All The Richest People In America Have This In Common
According to Forbes the number of billionaires in America is 513 and only 400 of these have made it to annual list of richest people in America. The total wealth of these rich people was in the range of $2.29 trillion. The net worth of each of these billionaires came out to be $5.7 billion.
Similar stories across the nation
One common trait connects all these billionaires who have made it to the top list. While some of these billionaires started business on their own, others acquired it from their families.
None of these people acquired the billionaire status by being an employee. The exception could however be those people who had some substantial shares in the profit of the company.
Allen and Steve Ballmer who joined Microsoft in 1980 also became billionaire over the period. The rise of Ballmer can be attributed to the stock option that he exercised to attain his billionaire status as initially he was an employee of the company.
Interestingly, Microsoft has turned into a money minting option for not only its owners but many of its employees too. While Gates, Allen and Ballmer have become billionaires owing to their status in the company, Microsoft has also helped its 12,000 employees to turn millionaires over the years.
These employees also received stock option grants over the years which boosted their financial status and helped them become millionaires.
However it is not as if only people associated with technology industry have benefitted from these gains. Larry Ellison of Oracle, Jeff Bezos of Amazon and Mark Zuckerberg of Facebook are also among the top 10 richest people in America. Warren Buffet also turned his textile business into a money minting company. The list of richest Americans is interesting enough as it includes businesses as candy making, plumbing product making and real estate development that have helped their owners turn into billionaires.
However, you will not find any billionaire in the list who has made these gains by working on a typical 9 to 5 job. Nor does the list have mention of any person who has made these gains owing to winning any kind of lottery.
Such earnings, if any do not compound as it happens in business because the gains are always invested in the business to move ahead.
Lessons to learn
By reading through the stories of these billionaires one can safely say that net worth of rich Americans has a relation to the assets they possess not to the salary they might have earned. These rich people buy their assets from wealth that has reached its compound value.
These rich people also hold over to their assets for years together. The top lot of these billionaires do not believe in selling off their assets and instead hold on to their gains and do not sell companies.
The ride to the top is difficult indeed and if you wish to reach this mark ever, it is better to turn an entrepreneur and venture into something that you have passion for.