Money Tips From Some Of The Richest People In The World

Want to make a million but not sure on how to get started? Check out these tips from some of the world’s wealthiest businesspeople, celebrities and self-made millionaires.
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  1. Bill Gates: Don’t be afraid of growth.

The founder of Microsoft never imagined in 1975 that one day a computer would be in nearly every home across the world. He thought that “A computer on every desk and in every home, we didn’t realise, oh, well we’ll have to be a big company. Every time I thought, Oh God can we double in size?”

Bill Gates would eventually get over his fear of growth and go on to spearhead one of the largest corporations in all of history. The lesson remains: don’t allow your fear of growth stop you from reaching your goals.

  1. Carlos Slim Helú: Start early.

The Mexican businessman, who has held the title of ‘richest man in the world’ for a few years, has some simple yet invaluable advice. Start early. The sooner you start managing, investing and saving your money wisely, the more time you will have to correct mistakes and branch out into new business ventures.

Carlos Slim Helú practises what he preaches. He started buying shares at a Mexican bank at twelve years old, after working for 200 pesos a week at his father’s company.

  1. Oprah Winfrey: Find your passion.

Self-made billionaire Oprah Winfrey has said that “You become what you believe. You are where you are today in your life based on everything that you believe.” You can change your situation, your job and anything else in life, but in order to succeed you need to be passionate about what you do.

The old mantra, ‘do what you love and you’ll never work a day in your life’, rings true here. If you haven’t found your passion in life, start researching options online or at a library. The sooner you start the better!

  1. Warren Buffet: Keep it simple.

You don’t need every luxury available, even if you can afford them. Warren Buffet still owns and lives in the same house that he bought in 1957. And his investment principles are just as simple and down to earth.

Buffet made his fortune by focusing on simple principles. He invested in companies with a large annual cash flow, also choosing to invest with lower-risk businesses. Whether you have R100 or R100 000 to invest, sticking with the fundamentals is an excellent place to start.

  1. Steve Jobs: Change the world.

One of Steve Jobs’ most famous quotes is “Being the richest man in the cemetery doesn't matter to me. Going to bed at night knowing we've done something wonderful, that's what matters to me.” Steve Jobs was a man that was just as passionate about changing the world as what he was about making money.

He saw Apple as a way to improve people’s lives, and his products reflect that fact. Never let your passion for making money overshadow a passion for improving the world we live in.