7 principles of billionaires: how to become rich

Journalist and analyst Barry Ritholtz, who talks extensively to business influencers on Bloomberg's Masters in Business podcast, has compiled a list of recommendations for becoming a billionaire. As follows from the text he published on Bloomberg, to achieve this goal, it is not enough just to dream, believe in yourself and visualize your achievements. Ritholtz bases his recommendations on two-hour interviews with businessmen such as Mark Cuban (owner of Dallas Mavericks, $3.7 billion), Ray Dalio (founder of Bridgewater Associates, $17.4 billion), Howard Marks (founder of Oaktree Capital Management, $1.92 billion). ), Leon Cooperman (founder of Omega Advisors, $3.2 billion), Jeff Gundlach (founder of DoubleLine Capital, $1.86 billion), Bill Gross (CEO of PIMCO, $2.5 billion), Ken Fisher (co-founder and head of Fisher Investments, $3 .6 billion), Mario Gabelli (founder of the Gamco fund, $1.69 billion).

How to enter the "club of billionaires"

1. Be realistic. Almost everyone with whom Ritholtz spoke noted that it is important to understand the real state of affairs, about which other people may be mistaken. Without a clear perception of reality, you will not be able to achieve long-term success. Ray Dalio writes about this in his book Principles.
2. Work hard. You have to work long and hard, especially at the start of your career. Among the interlocutors of Ritgolts there was not a single billionaire who would have inherited his fortune. They all came to success on their own. Many of them have become successful, surpassing their competitors in efficiency, perseverance and intellectual development.
3. Focus on the process. All billionaires differed in their focus not on the result, but on the process. Be aware of the possible consequences of your decisions, learn from mistakes, but do not focus solely on the results.
4. Read a lot. Billionaires read not only books about finance, but also literature on history and philosophy, as well as biographies. They want to become smarter, learn new things, understanding the world more and more.
5. Luck must be on your side. Perhaps the most surprising revelation from the interviewees was the recognition of the special role of luck. Successful people note that a happy coincidence has repeatedly played an important role in their lives.
6. Don't miss the opportunity. Opportunity is a combination of hard work and luck. You can be lucky, but if you miss some chance without even trying, your luck is absolutely useless. It is necessary to be ready to “capitalize” the gift of fate.
7. Don't be arrogant. Another amazing revelation from billionaires was advice on self-perception. You need to understand that you are no better or worse than others. Although this thought can sometimes weigh on self-esteem, remember that if you are on your way to success, you can't look down on people.

Even if you do not plan to conquer the Forbes ratings, following these tips will help you fulfill your potential in any direction. You can find out how famous Russian businessmen came to their success in our project "

Liana Faizova