People with 9 big zeroes in their net worth are called billionaires. And It appears to me that not so long ago, millionaires were the real heavy hitters. There are numerous millionaires nowadays, and it is billionaires who set the bar for megawealthy people.
Dozens of billionaires have become famous worldwide, and many wish to be like them and achieve their level of success, while others despise them for hoarding money.
Although you may have an opinion on billionaires, they contribute significantly to the economy’s growth and many of them are genuinely charitable.
How did billionaires come to be where they are now? What is the typical lifestyle of a billionaire? Who are the average billionaires, and what do their lives look like?
In this article, we go through six facts about billionaires that you may not have known.
1. Most Billionaires Has Self-Made Businesses
Self-Made businesses are what make people millionaires to billionaires. No one has earned a billion dollars doing a 5-8 job. Every billionaire pursued their business on their own skill, despite having no support from anyone.
Here are the top 5 people who became billionaires through self-made businesses.
1. Bill Gates, the richest man in the world, is a self-made billionaire. He dropped out of Harvard to start Microsoft.
2. Mark Zuckerberg, the founder of Facebook, is a self-made billionaire. He started Facebook in his dorm room at Harvard.
3. Larry Page, the co-founder of Google, is a self-made billionaire. He dropped out of Stanford University to start Google.
4. Richard Branson, the founder of Virgin Group, is a self-made billionaire. He started his first business at the age of 16.
5. Carlos Slim Helu, the richest man in Mexico, is a self-made billionaire. He started his business career as a stock trader.
2. Billionaires Do Charity Donation
Many billionaires give a lot of their wealth back to society through donations. Bill Gates, the co-founder of Microsoft, has been the world’s most generous philanthropist for more than a decade. He has given more than $29 billion to charity.
Warren Buffet, the world’s leading philanthropist, gave away almost all of his money. So far, he has given more than $42 billion—much of it through annual gifts to The Bill & Melinda Gates Foundation, which is being used to combat poverty and healthcare problems in the United States and developing countries.
The Bill and Melinda Gates’ two-decades-old, Melinda Gates Foundation, which funds about $5 billion a year in grants, entered the field of medical research with a $1.75 billion commitment to be spent over two years in 2017, with the aim of delivering tools against the pandemic to those who need them worldwide.
According to his Bloomberg Philanthropies, Mr. Bloomberg has invested more than $11 billion in charitable causes, focusing on climate change, gun control, and public health.
All, billionaires had mostly an open heart, that helps people in their living.
3. Many Billionaires Have Unique Interests
Billionaires have taken up some unique hobbies and interests. These can be a reflection of their personality and what they like to do in their spare time.
Some billionaires enjoy racing cars. For example, Richard Petty is a NASCAR owner and has won several races. Other billionaires enjoy playing golf.
Bill Gates, the co-founder of Microsoft, is a great golfer and has even played with Tiger Woods. There are also billionaires who enjoy skiing, snowboarding, and other extreme sports.
Many billionaires also enjoy collecting things. Some collect art while others collect antique cars or rare coins.
4. Billionaires Are Worried About the Future
Although billionaires have a lot of money, they are still worried about the future. They know that no matter how much money they have, it can’t buy them everything.
Many billionaires are worried about the future of our world. They see the problems that we are facing and know that we need to do something to fix it. Many of them are funding programs to help solve these problems.
Some billionaires are even starting their own foundations to try and help make a difference. This includes Bill Gates, who has donated more than $30 billion to charity over the years.
5. Billionaires Have Different Opinions
But they all share a few things in common, like their unique hobbies and interests.
For example, Richard Branson, the founder of Virgin Group, is passionate about space travel. He has invested in several space companies, including Virgin Galactic.
John Malone, the chairman of Liberty Media, is a big fan of trains. He’s collected more than $2 billion worth of railroad memorabilia, including locomotives and dining cars.
Another interesting hobby of billionaires is collecting art. For example, Steve Cohen, the founder of SAC Capital Advisors, collects artworks by Andy Warhol and Jeff Koons.
Some billionaires are into sports. Michael Jordan, the owner of the Charlotte Hornets NBA team, is one of them.
6. Billionaires Have Different Political Views
In the U.S., billionaires tend to be Republicans. Out of the top 50 richest people in the U.S., 34 are Republicans, while only 16 are Democrats.
But there are some billionaires who have different political views. For example, George Soros, the founder of Soros Fund Management, is a major donor to the Democratic Party.
And Michael Bloomberg, the founder of Bloomberg LP and former mayor of New York City, is an Independent.
Not all billionaires are interested in politics, but they all have their own unique views on life.
The Bottom Line
So, what do we learn from billionaires? A lot! We’ve seen that they come from all walks of life, with different backgrounds and interests.
They have different opinions on the future and how to make it better. But one thing is for sure – they all worked hard to get where they are today. And many continue working just as hard to maintain their wealth and give back to society.
Charity donations are only a small part of what these philanthropists do for the world, but it’s a good place to start
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