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How (Some) Billionaires Become Billionaires

Ann

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Found this little article and thought it might be worth looking at for fun. This is how Buffett started. I will add people to the list as I find them...

The No. 1 job billionaires and multimillionaires held before they got filthy rich

There are billions of reasons to do this job.


Many of today’s self-made billionaires and multimillionaires held a sales job, or jobs, when they were younger — a fact they consider crucial to their current success, according to research conducted by sociologist and historian Rainer Zitelmann and published in his recent book “The Wealth Elite.”


Zitelmann interviewed 45 individuals, whose net worth ranged, on the low end, from 10 million to 30 million euros (roughly $11.3 to $34 million) to, on the upper end, several billion euros (more than $3 billion), and whose wealth was either entirely self-made or built on inheritances that were later multiplied. More...
 
Here's Australia's latest rich list. What I'm less pleased about, is some of the wealthiest Australians are making their wealth through private companies. So if you want to become a shareholder of Gina Rinehart's or Harry Triguboff's company for instance, you won't find them on the ASX.

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Most billionaires start wealthy. There are only 3 that started poor in western culture.

e.g. Mark Zuckerbergs parents were both dentists who supported him for years as he got Facebook going. So he wasn't poor. Just setting the boundaries.

So who are the three?

George Soros, lived in a ghetto, escaped Germany with just the clothes on his back.

Jk Rowling. Everyone knows her story.

Oprah Winfrey.
Poverty upbring raised by her grandmother.

There are a few more creeping in mainly due to inflation.
eg Paul McCartney has now got to the magic amount late in life.
 
Most billionaires start wealthy. There are only 3 that started poor in western culture.

e.g. Mark Zuckerbergs parents were both dentists who supported him for years as he got Facebook going. So he wasn't poor. Just setting the boundaries.

So who are the three?

George Soros, lived in a ghetto, escaped Germany with just the clothes on his back.

Jk Rowling. Everyone knows her story.

Oprah Winfrey.
Poverty upbring raised by her grandmother.

There are a few more creeping in mainly due to inflation.
eg Paul McCartney has now got to the magic amount late in life.
The miracle of compounding...
 
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