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Archive for Billionaires

Tenacity vs Intellect: What Makes an Entrepreneur?

via ForaTV

As I readĀ  and watch videos about successful entrepreneurs, this same question pops up in my head. Was the cause of this persons success due more to to this person being an egghead, or them being passionate and driven? Leonard Brody eloquently answers this question by intelligence is a commodity- you hire smart people- but passion is the driving force. When I look at the Forbes Richest people list many of them were college drop outs and some never finished high school. I have no doubt this these people aren’t all intelligent, their success was due more to the fact that they had a passionĀ  to succeed or fear of failure.

There’s a good article on Street Capitalist which underscores this point. The author writes about Warren Buffet talking about Rose Blumkin who had a grade school education but was able to turn her investment of $500 into the biggest furniture store in North America.

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From Nothin to Somethin: Forbes Rags to Riches Billionaires

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Self Made Billionaires

“Two-thirds of the 1,125 billionaires on our list are self-made, having built their immense empires from scratch. While earning a billion bucks is admirable under any circumstances, some billionaires have overcome especially daunting odds en route to their fabulous wealth. From academic struggles and family tragedies to substance abuse and extreme poverty, these modern-day Horatio Algers have lived a capitalist fairy tale.”

Devon Pendleton

BILLIONAIRES: Notable Newcomers

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New Billionaires

“One out of every five billionaires is new to our list this year. One-third of the 226 newcomers are Americans. Another third come from Russia, China and India. The rest come from 29 other nations including Portugal, Greece and Nigeria, which welcomes its first billionaire. Here are our picks for some of the more notable new entrants including Asia’s richest newcomer, India’s youngest billionaire and the year’s only new self-made woman.”
–Luisa Kroll, Forbes