Other interesting findings:
1. They fail on a regular basis.Show me a billionaire who has succeeded at every single thing he or she has ever tried--go on, name one!
Everyone has failures and successes. Billionaires often fail at epic scale, thanks to the sheer size of the deals and investments they're involved in. The trick is, they understand that failure is just a bump in the road on the path to greater success.
Hotel magnate Kirk Kerkorian, at 97 years old, is worth an estimated $4.4 billion. Over the course of his lengthy career, he's made and lost millions many times over. Best known for helping to shape Las Vegas, Kerkorian also had a tumultuous relationship with the auto industry, including massive losses in his Ford stock during the 2008 economic crisis. Still, he kept taking risks and continues to this day.
Billionaires know that you have to fail sometimes. They just become more adept at it.
2. They do for themselves.
The Hollywood stereotype of the über-rich might have left you thinking billionaires don't do anything for themselves. They have dog walkers, maids, assistants, butlers, and drivers to take care of the monotonous chores of everyday life.
Contrary to this image, billionaires often do just fine fending for themselves. Dish Network chairman Charlie Ergen, worth an estimated $16.3 billion, still packs his own lunch every day! He told the Financial Times he prefers a sandwich and a Gatorade.
It's true that the supersuccessful often surround themselves with supportive people--they understand they can't do everything on their own. But this doesn't mean they're helpless or lazy when it comes to doing the same things each day that regular people do.
3. They are frugal.
Mark Zuckerberg drives a Volkswagen GTI. That's right, the founder and CEO of Facebook, who's worth an estimated $33 billion, drives a $30,000 car.
We often think of the superwealthy as indulgent, with opulent and even wasteful lifestyles. In truth, many billionaires are shrewd businesspeople who are incredibly frugal and personally accountable for their expenditures. Google co-founder Sergey Brin, for example, still shops at CostCo.
Azim Premji, chairman of Wipro Limited, is worth an estimated $12.2 billion but still drives an inexpensive car. He's said to travel by rickshaw to and from the Bangalore airport for business trips.
It flies in the face of the stereotype to have many billionaires actually be very frugal. In American culture, we tend to crave the flashy cars, the big houses, and all the toys. Billionaires are adept at making money but at keeping it as well, and part of that means living below their means for many.
3. Theyre curious... about everything.
What the average person sees as mundane or overly complicated is not viewed the same way with a billionaire mindset. I once had a 30 minute conversation with Enver about the height of the curbs in Washington DC versus Istanbul, Turkey. Billionaires are incredibly curious; what the rest of the world thinks is a problem and complains about — that’s what these people go and work on.
"They are incredibly curious; what the rest of the world thinks is a problem and complains about -- that's what these people go and work on," he says.
James Dolan of The Dolan Company is an example of this. "At one point, Dolan bought a hundred-year-old legal newspaper. The first thing he did was have the staff survey every single subscriber. They found the reason people were reading the paper wasn't for the news. It was for the legal notices of foreclosure they ran," says Jordan.
"So, Dolan turned the company on its head and created the largest national court reporting service on foreclosures. This process used to take three months and caused credit card companies and banks billions of dollars; Dolan turned it into real-time reporting all because he bought a hundred-year-old newspaper. Dolan saw something that everyone else overlooked; they figured it wasn't worth anything."
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