Becoming a billionaire surely is a great goal. Unfortunately, that dream seems to be like a star that is beyond reach. While it’s undeniable that some had an economic, family, and educational advantages getting there —certain key characteristics led them to billions.
Climbing to the world’s wealthiest is not an easy task, and it doesn’t happen like magic. It’s not luck either. Being a billionaire is no joke. Success always comes at a price and ultra-successful people have paid a price that most people are not willing to pay.
Although it seems like billionaires rarely made mistakes, which helped them get into the success they are right now. It’s actually the opposite — they failed and made mistakes several times before finally succeeding.
Let’s walk through the five shocking habits of billionaires that brought them to the top.
Frugal
Have you ever told yourself once that once you become a billionaire, you will buy all the things that you want? But now, let me ask you this, when you have billions in your bank account, where will you use it?
Most people would probably buy a new designer’s collection, expensive cars, and spend on luxury. However, most billionaires won’t do that. One shocking truth about billionaires is they are frugal. They view enormous sums of money as a tool to make their dreams come true, and not a dream come true itself.
Surely, some ultra-successful people can buy expensive things without thinking about the price. They are always on top of trending items and limited editions. But what lies behind their current successful achievement is frugality.
Before they turned into people that we admire today, they were once the people who sacrificed laps of luxuries by using all their resources to accomplish small business milestones.
And even when their business thrives and is stabilized all over the globe, the habit of sacrificing a bit of luxury remains, so they are more mindless and strategic about spending. They still have the same discipline when it comes to money the same way before they had too much of it.
Are you doubting this shocking truth about billionaires? Try looking at the way they live now!
Berkshire Hathaway’s CEO, Warren Buffet has $108.9 billion net worth, but he remained living a humble life in Omaha with his $31,500-house that he bought way back in the 1950s! It was just recently that he changed his flip phone.
What’s more shocking is that he doesn’t even have a computer in his office as reports say. To add more, despite having the means to afford a whole fleet of grand limousines, he would rather drive his Cadillac XTS which he had purchased in 2014 for only $45,000.
If you own one of the largest social media sites in the world, would you still go to wholesale events? I guess not. But Mark Zuckerberg’s fortune didn’t stop him from hunting items from wholesale bargains with his wife at Costco.
Another penny pincher billionaire out there is Jeff Bezos, the founder of Amazon. The American CEO still drives his Honda despite having $185.1 billion. Aside from having whooping net worth, these billionaires have something in common: they are frugal. Maybe, it is the essential quality that made them rich in the first place.
Sharp Decision-Making Skills
Decision-making is one of the critical skills needed in every business. A decision can either make a person end up in a shantytown or a luxurious uptown — it determines failure or success.
In establishing a business and making it thrive, you will meet several crucial decisions. Decision-making cannot be avoided. You can’t always balance things out. Sometimes, there are circumstances where you will need to make complicated choices that will greatly affect the lives of people around you. Choices have a ripple effect in the world. Billionaires are aware of that fact, so their minds are programmed to always make the best decision.
If you want to become a billionaire, be aware of the fact that you will be responsible for the people who work under you. So, you cannot make a decision on a whim. You have to think carefully about the options you have, the possible outcome of your decision, and alternatives. You have to keep your focus on the ball without fail.
Lifelong Learning
The world always has something new to offer and striving to learn those new things every day is a habit that most billionaires have. Innovation is all around, and trends keep emerging, so billionaires need to keep up with the change to maintain their position on the top.
Billionaires are thirsty for new knowledge, and they set aside even just a small time to learn something new about their field of interest every day. The renowned Warren Buffet noted that reading 500 pages of a book a day is a good habit. He vouched that knowledge builds up through consistent reading just like how compound interest increases as time goes by.
Mark Cuban, the billionaire owner of Dallas Mavericks, sees reading the same way and spares a few hours a day to read. If you were to ask the CEO of SpaceX, Elon Musk, the wealthiest man in the world, where he learned so much about the rocket, he would answer — through reading.
The world has so much knowledge to offer, and billionaires are mostly the consumers. Despite the hectic schedule, they always make sure to have some time for learning.
Planning and Scheduling Tasks
Billionaires are definitely the busiest people in the world. From attending meetings, interviews, conventions, emails, and other important events, 24 hours a day might seem not to be enough. With such a busy schedule, they would probably be crazy right now without proper planning and scheduling.
Our minds often wander on other things different from what we’re supposed to focus on. For instance, there must be a time when you are trying to pay attention to your writing job than some lyrics of a song start popping into your head. To avoid falling prey to such distractions, try the 5-minute interval task management.
Focus your thoughts on one specific task in 5 minutes, then take a break. If the mind is programmed to do a task for a 5-minute task, there’s a lesser chance that it would not wander somewhere else. Schedule your brain to focus on one task at a time.
Health
Today’s world is too complicated to handle. There are many responsibilities, pressure, and expectations, which sometimes causes stress to our brains. This is especially true for billionaires.
Mental and physical well-being is essential to a billionaire. After all, what’s the purpose of all the money when they don’t have the luxury to enjoy it? Billionaires value their health more than anything else. They value having time with themselves and enjoying their own company.
Twitter’s CEO, Jack Dorsey, revealed that he wakes up as early as 5 am to meditate. The famous American talk show host, Oprah Winfrey, is also an advocate of self-meditation.
Meditation possesses several benefits for the body and mind of a person. It encourages clarity in thoughts, clearing the mind, which helps a person come up with ingenious ideas for life, business, or career. Exercise is also good for improving brain function and physical endurance. With regular exercise, lung and heart health improves, and this gives billionaires more energy to accomplish everyday tasks.
