15 Secrets Only Billionaires Know
Alux.com・2 minutes read
There are 3,112 billionaires globally in 2023, with real estate making millionaires but private equity leading to billionaire status. Using other people's money, surrounding oneself with experts, and making high-value decisions are essential strategies for billionaires to achieve success.
Insights
- Leveraging external investors and utilizing other people's money are key strategies for billionaires to scale their businesses and achieve significant wealth.
- Warren Buffett exemplifies the importance of decision-making and persuasion skills in becoming successful, showcasing the value of making high-value decisions and effectively convincing others to achieve billionaire status.
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Recent questions
How many billionaires are there in the world?
3,112
What is a key strategy for becoming rich?
Using other people's money
What is a preferred store of value for the ultra-rich?
Art
What industry often exploits slave labor in cobalt mines?
Tech
What skills are crucial for billionaires?
Decision-making and persuasion
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Summary
00:00
"Strategies of Billionaires: Wealth, Investments, Art"
- As of 2023, there are 3,112 billionaires in the world.
- Billionaires typically own a percentage of their businesses, not the entire entity.
- Real estate can make you a millionaire, but private equity leads to billionaire status.
- Using other people's money is a key strategy for becoming rich.
- Billionaires often leverage external investors to scale their businesses.
- Buy low, sell high is a fundamental principle for billionaires in various industries.
- Art is a preferred store of value for the ultra-rich due to its portability and profitability.
- Stocks are not the primary path to becoming a billionaire.
- Crisis periods are seen as opportunities by billionaires to acquire assets at discounted rates.
- Surrounding oneself with experts is crucial for minimizing risk and maximizing returns.
17:21
"Google's Cloud Services Drive Billion-Dollar Growth"
- Google's cloud services generate 6.3 billion dollars quarterly, totaling 25 billion dollars annually, showcasing significant business growth.
- Convincing a business to buy requires the same effort as convincing an individual, but the income disparity can be substantial, potentially leading to significantly higher earnings.
- Many billionaires had advantageous backgrounds, such as wealthy parents, access to high-level education, and safety nets, enabling them to take risks and achieve success.
- The tech industry often exploits slave labor, particularly children, in cobalt mines, highlighting the harsh realities behind the production of electronic devices.
- Decision-making and persuasion are crucial skills for billionaires, with Warren Buffett exemplifying the importance of making high-value decisions and effectively persuading others to achieve success.
