Do you ever wonder how many American billionaires exist in today’s age? To the new readers, I’m a blogger who loves to write down anything about making money online from cryptocurrencies to even digital marketing.
While I was scrolling through my LinkedIn feed, I saw a business snippet on the topic of American billionaires. I was amazed after skimming through tons of newsfeed to stumble upon an interesting headline: “Out of All The Billionaires in the World, 580+ Are American Billionaires.”
Doesn’t that give you the chills? Who would’ve known that there are so many billionaires? After reading the up on the topic, new questions pop up in my head one after another.
Random questions like:
Who is the richest woman in America?
How many billionaires in the world have marked their territory on the moon? (Yes, that’s a thing!)
Curiosity works wonder. I decided to do a research about the richest people in the world. I went on Google and started digging for more information on this subject because it’s quite captivating.
There are rich people in many fields of subject including technology, finance, and even hospitality.
I Wanna Be A Billionaire!
During the research in regards to this subject, ‘Billionaire’ lyrics by Bruno Mars did appear on the search results. It was a funny moment so I had to share it. It’s definitely a catchy song.
Back to the subject- look at how many billionaires there are in the US. The United States is basically the mother of opportunities for all sorts of entrepreneurs. Often times, investment stops entrepreneurs from scaling up on their idea(s). The US also ranks second on venture-backed capital in terms of GDP in the world.
This means that the country makes it accessible for entrepreneurs to find financial capital for their ventures.
An analysis report via the U.S. News states that the United States is the third most entrepreneur-friendly nation. What is the first two, you asked?
We’ve seen reports that stand as testimony to why Americans top the chart of billionaires. America as a country allows and facilitates its people to form their dreams into a reality. Our movers and shakers have marked their names in different industries. Let’s take a look at them now.
American Billionaires Disrupting Technology
Remember that day when Forbes released its richest American entrepreneurs’ list in 2015? You learn that many of them came from the position of an average America. That means you can do it too (maybe not the richest but give it a shot)!
Technology is evolving on a daily basis. We went from (Nokia) phone bricks with buttons to touch screen in such a short amount of time. Do you know how many billionaires in the US from the tech industry made it on the list? 34 out of 40 people!
Silicon Valley still remains the undisputed leader of technology-driven entrepreneurship. For years, the US has been a bellwether of tech entrepreneurship.
Companies like Airbnb, Facebook, Twitter, and Uber rose from that fertile soil and reached exalted ranks.
The American multinational company Amazon made its first-ever mark in the top 10 of Fortune 500 in 2018.
It’s not only veteran companies and entrepreneurs but also young American billionaires who make us equally proud. I was moved when I came across Drew Houston’s story. The 32-year-old had a keen interest in computers as a kid. At the age of 24, Houston co-founded Dropbox, which is now a billion-dollar company. Houston is truly an inspiration for many starting entrepreneurs.
American Billionaires Fast Tracking Finance Industry
One of the American billionaires that I would like to talk to you about in this article is the legendary investor, Warren Buffett. Buffett exemplifies that no matter where you come from, you can achieve your dreams. I totally agree with him. With the law of attraction in mind, anything is possible.
Did you know that Buffett purchased his first shares in the stock market at an early age? He was only 11 during the time! He bought the Cities Service Preferred at $38 a share. Buffett later sold it for $5 profit.
The aspiring investor didn’t even make it through Harvard Business School. Even though it disappointed him, Buffett didn’t back down as life had something better in store.
He joined Columbia Business School and was mentored under the iconic investor Benjamin Graham. Buffett is undoubtedly one of the best investors the world has seen. From being a paperboy to accepting rejections and building an empire, Buffett’s story is simply remarkable. We can take inspiration from him.
Thomas Peterffy, the founder of Interactive Brokers, started his entrepreneurial journey with nothing. In 1965, Peterffy immigrated to the US with no money. To add to his woes, he didn’t speak a word of English. He started off as a software engineer. Later, he got himself a job in the American Stock Exchange. Peterffy went on to invent the first hand-held computer and the rest, as they say, is history.
American Billionaire Heroes In Hospitality
Our billionaires have left no industry untouched.
Even in the hospitality segment, American hoteliers have made their presence felt. Their stories are sources of inspiration for they are not only rich and famous but also philanthropists who have left their mark on the world in their own way.
Sheldon Adelson is a world-famous hotel mogul. He is the CEO of Las Vegas Sands and has had a parabolic career. After reaching a benchmark of $24 billion, Adelson’s fortunes plummeted to $2 billion. However, Adelson didn’t give up and took his business back up to $37 billion. Next time when you face a loss, remember Adelson!
Bill Marriott Jr., the executive chairman of Marriott Hotel chain, is highly regarded as an inspiration in the hotelier circles. Giving preference to customer needs, Bill exhibited world-class work ethics from his beginning days. He paved the way for many innovations in hospitality. After acquiring the Starwood Hotel chain, Bill’s Marriott Hotel chain became the world’s largest hotel chain!
American Billionaires In Healthcare Industry
Doctors or surgeons, too, can be billionaires, and several of them from the healthcare industry in the US have made billions.
By keeping the world healthy and curing diseases, healthcare founders are joining the three-comma club. Thomas Frist Jr. is a co-founder of the Hospital Corporation of America. He is not only the world’s richest physician but also a magnanimous philanthropist.
Breaking The Glass Ceiling
American women entrepreneurs are amassing fortunes too.
You probably wonder who the richest woman in America is. So, I did what any tech-savvy person would have done. Google to find the results and I’m here to share it with you.
Not one, but many self-made American women entrepreneurs are emerging each year! The numbers were so overwhelming they’ve made Forbes expand its list.
Diane Hendricks is one of the richest self-made American woman billionaires. Hendricks is the cofounder of ABC Supply– one of the largest distributors of roofing, siding, and windows in the US.
After her husband’s death, Hendricks single-handedly took care of her business. She presently is the chairperson of her company. Hendricks is a good example of self-made and self-reliant entrepreneurs and is a true inspiration for many entrepreneurs who aspire to build a business of their own.
Everyone loves pizzas! An interesting survey states that approximately 3 billion pizzas are sold in the US annually. That’s certainly a lot for Marian Ilitch and her husband.
That’s why they’ve established Little Caesars Pizza. Ilitch is known for being unapologetically forthright. She never takes the backseat and was the face of her business even when her husband was alive and well. After her husband’s demise, Ilitch didn’t give up but took her business to new heights.
These are some of the stories about our American billionaires that inspired me. I am sure you would be too! Our billionaires have truly taken the world by storm and have positively transformed lives across the world!
If you’re reading this article on advice for beginners, then you’ve probably asked this general question, “how can I make money online?” This question is more common than you think. I pulled up the stats and there are over approximately 5,400 search results per month on this topic alone.
Practically, every “Make Money Online” ebook, course, website, blog, guru, etc will explain to you that the goal of digital marketing is to have a blueprint or a system that’ll earn you money on autopilot.
What The Online World Will Tell You
They will tell you to:
Find a niche/product that you can promote.
Write articles promoting that niche/product/offer.
Get traffic to your written articles.
When you’re laying out these steps, it really appears to be simple, isn’t it? Well, you can definitely achieve it with or without your own developed website with only three simple steps to make money online!
Five Simple Steps
The greater seminars, courses, and ebooks also add several extra steps to take advantage of an aged marketing motto that’s usually called by the “Rule of 7.“ So, if you’ve been in search of the answer to “how to make money online?” then here is the blueprint or formula that you should follow:
Find your desired (winning?) product to sell.
Create and set-up a website that’s highly targeted for the people that want to purchase that product.
Give your visitors an incentive to submit their email address for newsletter and updates.
You’re going to want to use an email responder to send a constant update (not too constant) promoting the product.
Set up a traffic campaign to motivate your visitors/readers to your developed website with the intention of buying that product.
The five basic vital steps can give you a dynamic (yet still simple and powerful) formula if you want to make money online.
With that simple formula and at a basic level, it truly is that simple. That’s the reason why digital marketing is commonly appealing to the people who are looking to “Get Rich Quick” because of how simple it appears to be. One of the problems is that ‘simplicity’ doesn’t mean that it’s as simple as ABC. The part that becomes more complex is making sure those steps are done in a highly effective manner. It requires a lot of self-discipline.
Are You Getting Scammed?
When it becomes too difficult, in their toughest time during the beginning of their journey, the “Get Rich Quick” followers usually jump off the bandwagon and begin screaming SCAM. What I’ve said above, ‘simplicity’ doesn’t really mean that it’s ‘easy.’ Because of the “Get Rich Quick” courses, videos, books, etc. usually do overhype this subject on how there’s no sweat involve and how easy it is to get results, it’s still a proven system and that’s a fact.
If you truly want to figure out how to learn to make money online in the internet world, then you will need to exclude and focus less on the hype. There is no way any gurus or mentors can promise you that you can make a certain amount of money in a specific time frame. There are way too many uncounted variables that must be taken into consideration. It can range from how great you are at product/niche research and all the way to how you utilize and understand your material and the following instructions.
What Are Your Current Expectations?
Several of the most important questions that you have to keep asking yourself are “what are your current expectations?”, and “how great are you at understanding at what you’re actually doing for each task/step?”
What you’re expecting will determine your outcome and how far you will follow through the plan with each and every step. When you’re expecting to earn $10,000 in two weeks time, and after three weeks you still haven’t made a single sale, then you’re probably going to give up and accuse of it being a scam (and usually makes you think that way because of the sales page guaranteeing you unrealistic promises). What’s more, is the importance of how you perceive and understand what needs to be done for every step of the way.
Even if you truly believe that it’s achievable and possible to make $10,000 in two weeks or less, it’s not likely to occur unless you’re executing and perfecting every step of the journey the right way.
You shouldn’t be expecting to be making $10,000 in a short amount of time. But instead, you should develop a goal that teaches you exactly how to execute each step that is necessary for a successful journey in the digital online world.
How Can I Make Money Online?
You’re most likely doing your research on the subject, browsing the search engines, reading threads on forums, reading ebooks on “how to make money online,” or even worse, looking for “how to get rich quick?” I’m sorry to burst your bubbles, but you’re asking for the wrong questions. You have probably realized that you see that same answer repetitively over and over again but still, you’re continuing to keep ignoring it believing that it’s not an effective strategy. You’re probably burying your head in the sand because of that step 3 or step 5 formula that I’ve listed above isn’t thoroughly enough for you to understand how you can make it work.
The questions that you should really be asking is about how to execute each and every one of those steps.
How can I find a good product to sell and promote?
What niche is the best niche to market in? How?
How can I set up my own website that could potentially be effective for the promotion of my chosen product?
How do I create the perfect article that can lead a visitor to a buy?
What incentives can I give my visitors to submit their emails?
What can I do to get visitors to my website with the intention to purchase my promoted product?
“How do I make money online?” is the wrong question to ask. You have to learn to ask the right questions in order to help you engrave your name on the stairway to success. When you’re learning to ask and find answers to specific questions, then that’s when you can truly learn how you can make money online. My best advice for beginners.
When you understand the law of averages in life, you’ll realize that it’s possible to be successful at anything you do.
Have you ever done sales but deal with potential customers that didn’t want to buy from you? Or play a sport with friends or strangers, but for some reason, you just can’t make the score? Yeah, it’s definitely a terrible feeling, but you’re not giving up on yourself, right?
Eventually, you’ll have to practice and get better unless you decided you had given up on yourself. If you chose the route to practice and get better, then this is where the law of averages comes into play.
By definition, the law of averages in life is an inaccurate generalization of the law of large numbers, which means that the number of events and the same likelihood of occurrences can change if given enough trials or instances.
To put it into a much simpler definition, you have a higher chance of changing your outcome if you continue to find the results through trial and error. It’ll take tons of self-discipline and consistency, but eventually, you will see that the outcome that you’re trying to achieve is quite possible.
When it comes to acquiring new skills and learning them, knowing the law of averages has been proven to be quite effective.
Examples for The Law of Averages:
Example 1: Basketball Shots
Let’s say you’re trying to shoot a basketball into a hoop but constantly miss. It’s frustrating, right? After about ten shots, you eventually make one and all of a sudden, it feels good. Finally, your first shot.
You decided that you should continue shooting and practicing, where you’ll eventually develop muscle memory to where you can make even more shots.
And from your many trial and errors of missing hoops, you’re finally making two out of ten shots. Because of your constant failure through trial and error, you’re learning not to miss those shots from practicing.
After about a thousand shots, you’re finally making one out of every two.
I’m sure you’ve heard of the famous Steph Curry from the Golden State Warriors.
Did you know that Steph Curry hasn’t missed a free throw shot during a postseason game in nearly four years?
That’s insane statistics if you really think about it. But what do you think he does every day that many others don’t do? Steph Curry spends hours every day perfecting and mastering his free throws.
Example 2: Sales
You just got hired at a company for a sales position. You’re still a beginner and inexperience.
Whether it’s door-to-door sales or cold-calling potential clients, you just can’t seem to be getting anyone interested.
In the law of averages, if you continue knocking doors or calling clients, you’ll eventually get someone that’s interested.
Even if you get a hundred “no,” you’ll eventually get someone that’s a yes. Your outcome and results will change for the better as you experience more practice from dealing with customers.
Law of Averages: Quotes
Below are some of my favorite law of averages quotes.
This one from Bruce Lee about the law of averages in quite motivational. You just have to put in more effort if you’re not seeing the results that you want. If you’re asking for a better outcome, the outcome is expecting harder work from you.
If I want to be rich, then should I just work at my regular job? No, I have to put in an effort such as creating streamlines of income and experimenting with ways to success. Only YOU can change your outcome.
Here’s another one from an American author.
In this quote by Jim Cathcart, an American author says that you will get results if you attract it simply by working towards your goal(s). Listen to Jim Cathcart! Don’t give up and continue striving for success.
If you want to become a writer, then work towards becoming one. If you want to be a video game streamer, you have the power of the internet.
Questions About The Law of Averages: Quora Questions
Is the law of averages (Quora) an illusion?
the law of averages is no illusion, but it applies only to averages. – Aaron Brown, MBA Finance & Statistics, The University of Chicago Booth School of Business (1982)
Brown stated that it’s only the averages that tend toward their value when it comes to long-term. Let’s say you flip a coin one time, you will end up with either 0% or 100% tails/heads. If you choose to continue flipping the coin, the averages will get closer to 50% (not with every flip) eventually.
Do you find the law of averages consistent of free will?
I’m not sure how the law of averages is inconsistent with the concept of free will. – John DeMarco, artist, author, and scientist of the zen-dao x-gnosis
According to John DeMarco from Quora, an average is a quantity,rating, or thelikethat correspond to approximates in arithmeticmeans. They’re usually used as means for determining patterns usually for random occurrences.
One of the examples that DeMarco stated, was if free tuition were all of a sudden available in the US, and students from schools weren’t pressured to enter the working world, then we’re likely seeing the average shift.
One thing to be considering is that an average while having particular meanings with numbers because of their firmness in value, usually becomes an abstract concept when you’re dealing with individuals.
Whatever you’re doing and no matter what it is, at any time, could be data for statistics. At the moment, you’re most likely using an internet device to read this article – you’re a statistic.
Law of Averages: From My Experience
I’ve worked for many sales departments before in the past. I’ve learned a lot about the law of averages at one of my departments where I’ve worked in the past. From my experience, those that continued on aiming for clients no matter how many times they’ve failed, they usually end up being the most successful people.
I’ve seen a salesperson with a lack of experience in sales, yet he continued on calling clients and made the most sales by the end of the month.
We were taught about the law of averages and everyone was motivated. If you want success or see results, don’t be hesitant to chase after it.
Motivation Guide: When you talk about motivation, what do you think about? While the meaning of the word motivation, “the reason or reasons one has for acting or behaving in a particular way,” there’s much more in-depth to this vocabulary than what you would normally hear. Without motivation, it’s difficult to reach your goals or success in your definitional terms. What motivates you to get up every day with that spark of fire in you? What gets you to study or take action towards the success of your goals? Motivation.
What’s your motivation to read this blog? To learn about motivation and how it could help you become successful.
This article will be providing you in-depth research about the motivational factors and a deeper meaning. This video inspired me so I had to share with you:
The Motivational Factors- Definition:
In most cases for this motivation guide, it usually begins with needs and why. Why are you attending school? Why am I working at this terrible job? Why should I lose weight? Why? It turns out, each and every one of us is motivated by one or two of the six motivating factors.
What is Motivation and its Type? Motivational Terms:
Truth: Individuals who are strong in the truth factor or what we call truth passionate are all about learning the right answers. These are usually the people who are trying to pursue higher education. They’re usually the ones that are answering the questions on why certain situations work the right way.
Power: Power passionate individuals are highly focused on their role. They’re usually the ones wondering of how they can influence the outcome of their authority.
Results: People who are results passionate focus on things like the final total of an account. They want to know about the return on investments (ROI) such as starting a business, investments, and projects. They want to invest their time and spend their money strategically.
Assistance: The people that are assistance passionate mainly focus on help or assisting other people. They usually find other people and figure out what their needs are.
Form: The 5th factor is form-passionate. They’re usually the people that are highly attentive to their own subjective experience. It’s most likely that it’s the experience with people and things around them or the experience of cooperation and harmony on a team. It could be a decorated house or garden. There’s something about form-passionate people that usually have to be something positive.
Structure: The structure passionate individuals are motivated to find a constant straightforward repeatable way of getting things done. They usually produce the same results equally over and over again. They usually follow the rules and guiding principles
Why do structure passionate individuals can sometimes have conflicts with truth passionate people?
When a structure passionate person is all about doing the same thing the right way every time but a truth-passionate is finding the right way to do things, you have changes. That’s going to start a conflict.
Why do power passionates sometimes have problems with result passionates?
If the person has power or authority over you at a work environment but all you care about is doing what’s best for the outcome, there’s going to be conflict.
Motivation Guide: What can you do?
You can’t change a person’s motivation but you can help the situation by learning about their motivation.
You can learn what motivates another person by asking the question, why? You can ask a person why they’re an environmentalist if they tell you that they like the experience of trees and nature, they’re a form passionate. If he thinks that because whoever controls the natural resources controls the world, he’s a power passionate.
Are You a Motivator? How Do You Know Who Is a Motivator?
When a person is a motivator, they provide a reason for themselves or another person to do something. Being a motivator can impact your life in a tremendous way and when you help others around you become successful, then that’s what makes you successful.
Motivation Guide- Examples of a Motivator:
Boss: Andy, you seem to be having trouble meeting your deadlines.
Andy: Yes, I get distracted and can hardly stay on top of them.
Boss: We know that your ability to stick to your schedule can be difficult for our business department. Because of that situation, I would like to sit down with you to make sure to help you focus and agree on priorities. We can brainstorm different solutions and determine the resources I can use to help you with your problem.
Andy: (Andy feels understood by his boss) Thank you, boss. I want to do a great job, but I have tons of responsibilities to maintain. I don’t know what to work on first.
Boss: My schedule is pretty tight within the next few days. Why don’t we meet around dinner time around 8 PM? Does that sound good to you?
Andy: Sounds great!
Drive and Motivation:
While motivation is the willingness to do something, the drive is the starting point of motivation. When we discuss motivation, we discuss the settings and goals. When we discuss drive, we discuss our personal drive and what helps us focus on the betterment of our goals.
Are you a motivator? I hope you’re motivating many people around you in this world. Life can be tough for some. People can lack motivation and with your ability to motivate them, can help exceed their limits in life.
Are you a demotivator? I hope you’re surrounded by motivators because life can be gloomy sometimes, and having a motivator in your life can be drastic changes to your future. I came from this at a point in life. Think of the “Butterfly Effect.” One little change can change your life drastically forever.
This is your motivation guide. Sometimes, we need a little motivation in our lives and that’s okay. If you’re having a difficult time, have someone there for you. If you want to be alone, have something that motivates you whether it’s videos or podcasts. Success is waiting for you on the other side of the fence.
When you have the mindset of an entrepreneur, sacrificing your valuable time and money can be a daunting decision. You have heaps of ideas but not sure about where to start. You have to constantly make decisions. You keep failing but continue trying. You run out of resources but continue scavenging. Your loved ones will constantly tell you to find a real career path, but you’re already extremely positive that you’re not going to retire at the age of 65. You lose your motivation halfway through your journey, yet you search for motivational videos to help you exceed your limits.
Being an entrepreneur doesn’t necessarily mean that you made it. People have different perspectives when it comes to being an entrepreneur. In my perspective, I believe an entrepreneur besides from taking large risks for success is an individual that doesn’t give up in order to achieve their dreams. Every person in this world has their own complication and struggle but what they do to achieve it all depends on them.
The reason why most millionaires are millionaires today is that they kept trying. They battled through their complications to find solutions to their problems. With the knowledge they have, they use their money to make more money!
The Mindset of an Entrepreneur: Utilize Your Resources!
When you’re at the early stages of entrepreneurship prior to discovering that pot of gold, your biggest challenge could most likely be resources. You could run out of funds for your ad campaign(s) for dropshipping or getting leads. You could be working a full-time job with not enough time invested in your project(s). You could be a student that’s extremely studious with hardly any time for yourself. There are many factors and reasons that can prevent you or slow you down from achieving success.
Eventually, your trial and error won’t be the only thing adding up but also your knowledge from learning. Part of being an entrepreneur when you’re low on funds is learning how to utilize your resources. While some projects require spendings, there are many free ways and tutorials out there and that is the beauty of the internet. Your greatest advantage to success is your motivation, time, resources, and consistency.
The Mindset of an Entrepreneur: Motivation and Inspiration!
There will be times where you will struggle and completely stuck. I did. Your life problems can divert your emotions in a different direction. There will be gloomy days where you lack motivation and not sure about what to do with your life. There will be days where you’re hype and continue on. For those lacking motivation, my suggestion is to read up case studies on your projects. You can read their journey to success. You can search up motivational and inspirational videos. Many entrepreneurs came from a difficult life, yet they made it to where they are because of that spark of fire in them. You want to carry that spark from beginning to end.
There was a time in my life where I lack motivation. I would watch this video about Allen Wong, a person around my age. When I’m at my lowest point in life, this video about Allen Wong being able to afford a Lamborghini from being extremely poor inspired me to continue and keep going.
You have to find the spark of your motivation and inspiration and it will do you more good than bad to achieving success. You have to mark down your small goals into achieving the bigger one. I also find writing down my daily results help me to figure out why I’m getting those results. Your motivation will become your best friend for success.
The Mindset of an Entrepreneur: Being Doubt.
The beginning stages of being an entrepreneur can be indigestible. You constantly take in negative comments about this career path that you chose. It becomes a regular thing for you and it’s up to you on whether you adapt to that environment or not. You can take these comments as your motivation to prove everyone wrong or you can take these comments and doubt yourself.
In 2017, I made a nice income from digital marketing thinking that people would believe in me. I was wrong. I was still doubt. I eventually learned to adapt to my environment and take every comment as motivation whether it is good or bad. I learned to be optimistic and confident about my future. I learned it the hard way.
The Mindset of an Entrepreneur: The Loneliest Journey.
You are choosing this path because you want a greater future but this journey can really get lonely and depressing. You’re sacrificing a lot of your time to improve your projects every day of your life and constantly canceling plans with your friends. You are sitting in your room, at the coffee shop, or in your school library planning your next move on the road to success every day. You become the black sheep in your life because you are willing to sacrifice while others are living a normal life.
Don’t overwork yourself. Sometimes, reward yourself and go out with friends because it can be a great impact on your health. Be consistent but balance things out.
The Mindset of an Entrepreneur: The Sacrifice.
Unless you truly enjoy entrepreneurship as a hobby or a sport, being an entrepreneur requires many sacrifices in your life. You sacrifice the time to go out, you sacrifice money for advertising spends, or you sacrifice your time with your family and loved ones. How you choose to balance your life is all up to you but understand that there’s a lot more sacrificing involve at the beginning stages of being an entrepreneur. Sometimes it can lead to negative emotions which is why I highly recommend balancing your life out.
The Mindset of an Entrepreneur: Mission Accomplished!
You finally made it and achieve your goals. You gained tons of knowledge from your project(s). Now what? Your group of circles will change as you advance to different levels of wealth. You have the freedom (if you earned a livable income from your project) to enhance your projects or create new ones with a similar process that helped your original one succeed. When my old boss made his first million, his goal was to be innovative and create different streamlines of income. He wanted to hit $10 million next.
After you succeed on your first project, the bus of opportunities should be waiting for you to get in. Enjoy this long difficult journey and continue on to your success. Your money is your experience points in a game. You will learn many valuable lessons from your journey as you level up as an entrepreneur.
For some reason, an individual I know attracts manyrich people in the world to his life. He doesn’t do anything marvelous nor extraordinary. He’s not famous or celebrity type. His friendship with these billionaires and the rich people gave him the opportunity of spending time with many successful bright-minded people that are extremely high net worth. He’s spent time with eight different billionaires. He’s dated one of the daughters of a billionaire years ago and has gotten a peek into the luxurious lifestyle. My old boss’ boss is the richest person living in Vietnam. I learned about their struggles and their goals. I learned how they live their lives and struggles were before they were rich. In this article, I will be explaining the levels of wealth and lifestyle.
There are different levels of wealth. The article will be more focused on the levels of wealth, the mindset of an entrepreneur, and rich people in America. These are my first-hand knowledge:
Wealth Level 1 “Creating Streamlines of Income”- $50,000 to $100,000:
At this level, you’re most likely starting off with ideas and slowly building an empire. With $50,000 in your bank, you’re already in the top 15.38% richest people in the world. You’re most likely investing your money into stocks/cryptocurrencies or considering a start-up. You want to create streamlines of income while brainstorming every night in your apartment or your parents’ house. You’re living a decent life but are still trying to survive. You’re probably still working at your 9-5 job with the boss you hate and thinking extremely hard on your plans and future. Your desire and motivation sometimes can be depression and sadness. You fight and battle this battle to achieve your goals.
You have a list of side projects hoping for it to succeed so you can become your own boss one day. You tell yourself every day that you will retire at an early age. You fail and fail consecutively but never quit. You probably hit the bar or reward yourself with something nice to enjoy on a once in a while. You tell yourself that money buys everything while others tell you it doesn’t. You set goals after goals. You meet with other entrepreneurs and learning new ways and using their knowledge to push yourself into the next level of wealth. With such a unique mindset, you realize that aiming to be one of the rich people will be one of loneliest journeys in the world.
Wealth Level 2 – $100,001 to $1,000,000:
Congratulations! You made it past $100,000. Whether it’s your cryptocurrency skyrocketing or your start-up became a success, you have finally made it to level 2. At this range of wealth, you achieve a feeling of near financial freedom. You have more time for yourself so you brainstorm more projects. More money equals more experience. You have more time to focus on your work and hobbies. You can live your life with less stress and burden when you used to live from paycheck to paycheck. You have decent savings. You can travel and learn. Remember the time when you wanted to work full time on your blog, photography, dance, or music? You have the time to work on it now. You have more time, but you are still careful with your money because you’re aiming to achieve level 3.
At this point, you are likely getting to know businessmen and many entrepreneurs. Your networking is starting to expand. Your start-up and business decision can be risky because you can lose money or gain money. You continue to execute plans after plans because you crave for success. You continue to fail at your projects but you learned how to avoid your mistakes.
Wealth Level 3 – $1,000,001 to $10,000,000:
Here you are still learning more ways to increase your net-worth. You are considered to be one of the rich people but to you, you’re not. You’re likely driving a nice car. You have the power to start several franchises. You own a nice house. You can manipulate market capitalization in stocks and cryptocurrencies. You have a little more power now. Other entrepreneurs and successful individuals are starting to become more aware of your success now. Your life is luxurious but you are still careful about how much you are spending because you want to achieve wealth level 4. You can start a new company and hire your own employees. You can open an office and have salespeople cold-call for your business. Life is great at this point but you want to become richer. Your business decisions can either make you money or lose your money.
Wealth Level 4 – $10,000,001 to $30,000,000:
At this level, the majority of your needs are met. Your life is comfortable. You’re almost stress-free (not including business stress because they exist at all levels). You’re living the dream. Your life is at a 4-star/5-star level. Occasionally, you can book a suite anywhere you want for around $2,000. You can sometimes travel the world flying first class. You have a great looking house, you can afford any healthcare you desire, and you’re not likely to deal with any emergency financial situation. You are not “wealthy” in a way that your net-worth doesn’t matter. You will still have to be reasonable and careful with your business decisions. The banking world and reserves still don’t classify you as ‘extremely high net worth.’
Wealth Level 5 – $30,000,001 to $100,000,000:
At this point, your network of successful people is completely different than when you had your first million dollars. You play with the bigger people; the big boys. You can fly privately. You can partially own a jet from companies like “Net Jets” or whichever it is that you’re content with. You’re traveling the world while constantly staying at 5-star hotels. You own multiple homes. Your vacation can be whatever you desire. You can travel to the richest city and celebrate Christmas for a week. You can go to Monaco for the Grand Prix. You can travel to Canne for the film festival where rent per night in these places can go for about $5,000 minimum per night.
Because of the success of your company, you have interests in other companies. You think about buying out companies or selling the ones you’re not content with. You socialize with political figures and leaders. You are a highly well-respected individual in almost any community. In Beverly Hills, you are just a casual minor player. You might not even get a reservation at the city’s hottest restaurant unless you throw around your weight. You have any selection of cars to choose from in the market for your next vehicle purchase. You have private personal assistants that are beginning to have ‘people’ that others have to speak to to get to you. You can travel anywhere in different styles. You can purchase pretty much anything that ordinary people think of it as ‘rich people stuff.’
Wealth Level 6 “The Wealth Beyond Wallstreet” – $100,000,001 to $1,000,000,000:
It sure is a wide range, but life doesn’t change much when you go from being worth $100 million to $900 million. At this point in your life, you’re likely to have your own private jet. You probably have multiple residences with your own selected staff and even nice cars at each of them. If you have an ownership or control over a well-known business that most of the public has heard of, you can socialize with celebrities or politicians. You might not get an invitation to all the parties, but you can basically go almost anywhere with your connections to powerful ‘people’ and staff. Your surroundings now are full of ‘yes men.’
Your ability to purchase valuable possessions becomes an art. One of your vacations could be a five-bedroom house in an expensive city, but that’s not truly impressive. Do you possess a mini private island? Your billionaire friend owns a nicer one. You just had breakfast with several political figures? Cool. But your billionaire friend just ate breakfast with the president. Do you have a Lamborghini? Your billionaire friend thinks their handling sucks and has a one-and-only-car in the world. You will meet many people, but it will be tough for you to emotionally connect. Friends and family who love you for who you are have become rare at this level of wealth. They exist but it’s difficult to know which person truly cares.
Wealth Level 7 – more than $1,000,000,000:
I’m not going to add a $10,000,000,000+ level because they live a head-of-state life. But when you’re at $1,000,000,000 dollars or more, your life completely changes. You can purchase anything for your desire in broad terms. You can buy influence. Influence for your brand, for a political party, or for anything you would want to bring attention and awareness to. You can buy time. You will never have to wait for anything and that includes traveling, You don’t wait for your plane because your plane waits for you. You will get to experience almost anything. If you dream of it, then you can have it. You want to shoot basketballs with famous athletes, then feel free. Your money can impact the world or changes a person’s life. You can cure a disease with the fundings you’ve provided. You will become well-respected from almost every person.
Your perspective of money is different at this level. One of the richest people in the world makes $400 million per year. If you compare it to a person that makes $40,000 a year, then that’s 10,000 times more. A new Lamborgini for the successful businessman from his perspective to an ordinary working person is $23.50 when the ordinary person views it at $235,000. First class ticket internationally? The $10,000 ticket becomes $1 to the rich man’s view. A $10,000,000 piece of rare art becomes $1,000. There is nothing you can’t buy except love and time.
You made it here. You are considered one of the rich people on this planet. What do you do next?
The perspective in the view of money has been unique in my eyes since I was a kid. From learning about rich people’s experience, it’s almost impossible to have a regular emotional relationship at this level in wealth.
My next article will be explaining in depth about what billionaires buy. This will be an in-depth article about their access, influence, time, experiences, impact, and respect. Subscribe to my blog to get notified on my next article. I hope that this article helped you see money in a way that most people cannot. You can alsocontact me if you have any questions.