10 Ways the Richest Billionaires Stay Rich

10 Ways the Richest Billionaires Stay Rich

Learn how to get rich and stay rich by listening to the experts.

By Autumn Rose

 The richest people in the world climbed to the top of the fiscal food chain with smart investments and dreams of making a meaningful impact on the world. They also had a good deal of business savvy.

 See these inspiring tips from billionaires like Bill Gates and Warren Buffett to find out how to get rich — and stay rich.

Bill Gates: Focus on Development

Net Worth: $86.8 billion

 Microsoft founder Bill Gates built a reputation for being not only one of the richest men in the world, but also one of the smartest and most serious thinkers alive today.

It should come as no surprise that Gates became one of the richest people in the world by focusing more on development and innovation than the business side of things.

 In 2014, Gates told Rolling Stone, “You know, development sometimes is viewed as a project in which you give people things and nothing much happens, which is perfectly valid, but if you just focus on that, then you’d also have to say that venture capital is pretty stupid, too. Its hit rate is pathetic. But occasionally, you get successes, you fund a Google or something….”

 Warren Buffett: Think Long Term

Net Worth: $74.8 billion

 Self-made billionaire Warren Buffett believes in using long-term investment strategies. In fact, he accumulated most of his impressive wealth after turning 50 and continues to make smart investments today, pulling off what Forbes called his “biggest-ever deal” in August 2015.

 According to Time, Buffett once said, “Successful investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: you can’t produce a baby in one month by getting nine women pregnant.”

Jeff Bezos: Be a Missionary to Stay Motivated

Net Worth: $77 billion

 Amazon.com founder and CEO Jeff Bezos is a billionaire businessman whose many accomplishments include successfully launching a rocket into sub-orbit with his aerospace company, Blue Origin. In a 2010 interview with Fortune, Bezos revealed that he thinks of business as a mission.

“I strongly believe that missionaries make better products,” he said. “They care more. For a missionary, it’s not just about the business. There has to be a business, and the business has to make sense, but that’s not why you do it. You do it because you have something meaningful that motivates you.”

 Mark Zuckerberg: Think Like a Hacker

Net Worth: $59 billion

 Nineteen-year-old Mark Zuckerberg was a student at Harvard when he founded Facebook back in 2004. Since then, he’s become one of the world’s richest and most successful people.

 Zuckerberg attributes his success to a willingness to take risks and a desire to create something that can change the world. Additionally, he believes in following a business strategy known as “The Hacker Way.”

 In a 2012 letter to potential Facebook investors, he wrote, “The Hacker Way is an approach to building that involves continuous improvement and iteration. Hackers believe that something can always be better, and that nothing is ever complete.”

 Larry Ellison: Be Aggressive With Acquisitions

Net Worth: $54.5 billion

 Larry Ellison started his career building databases for the CIA before founding his own database software company, Oracle, in 1977. Over the years, Ellison has gone from being someone who despised growth acquisitions to someone who uses them to his advantage.

 Ellison’s open-minded acquisition style — which helped Oracle acquire successful companies like PeopleSoft, Eloqua and Siebel — enabled him to turn the organization into a giant worth $168.9 billion. Moreover, Ellison stresses the importance of having cash on hand for the next big acquisition.

 According to Business Insider, in a discussion with Wall Street analysts, he said, “We use our money for a variety of things. We buy back stock, we pay dividends.

We haven’t made any large acquisitions for a while. You know? We’re kind of saving our nickels and dimes. We might do something interesting, one of these days.

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