The 8 Billionaire Secrets “Most of Us Don’t Know”

It happened  from zero to millionaire and wants to share the 8 secrets of rich people that “most of us don't know”.  Photo: Getty Images

He went from zero to millionaire and wants to share the 8 secrets of rich people that “most of us don’t know”. Photo: Getty Images

As the number of rich people in the world increases at an accelerated rate, the interest of millions of people to grab the best financial advice to avoid waste and create even more wealth grows.

The trend, which was noticed in 2021 and was driven mainly by gains in the stock market and house prices, revealed that up to 5.2 million entrepreneurs became millionaires, almost half in the United States alone, according to the latest report. Credit Suisse Annual Wealth Report.

And the statistics are more than impressive: this is the largest increase in the number of millionaires recorded for any country in any year of this century. Globally, the total number of millionaires stood at 62.5 million at the end of 2021, with global wealth of up to $463.6 trillion (an increase of 9.8%).

Unsurprisingly, the top two economies, the United States and China, saw the largest gains in household wealth, followed by Canada, India and Australia.

Credit Suisse even estimates that by 2024 the average adult will be worth US$100,000, while over the next three years it forecasts a 40% increase in the number of millionaires, with China leading the way. By 2026, there will be more than 87.5 million people with at least $1 million in the bank.

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“It took me 20 years of trial and error before I achieved a multi-million dollar net worth.” Photo: Getty Images

Secrets to succeed as a millionaire and not die trying

It is likely that most people love the status of “millionaire”. Even if they are not particularly interested in creating wealth on their own, there is still a latent aspiration to belong to this segment.

But before embarking on a journey towards that life, it pays to have a little idea of ​​what it really means to deal with so much money. For example, having a million dollars in the bank does not automatically make you abundant, said author – and billionaire – Daniel Mangena in Entrepeneur.

Among some of the lessons he learned with his new lifestyle, Mangena mentioned the importance of finding a financial mentor, practicing gratitude and remembering that time is much more valuable than bills. And, with his human vision, Mangena arrives at very valid points, but how to do in practice so that being millionaires is a permanent condition and not an ephemeral one?

“It took me 20 years of trial and error before I achieved a multi-million dollar net worth. Now, at 64, I earn income from the 18 companies I started and the 12,000 apartments I own,” businessman Grant Cardone, CEO of Cardone Capital, owner and operator of seven private companies and a portfolio of multi-family projects, told CNBC. of more than US$4 billion.

During those two decades, Cardone has established relationships with “ultra-rich” people and has come to understand their habits. According to him, there are at least eight financial secrets that millionaires know that most of us don’t:

1. They don’t diversify their investments right away

Cardone explains that it’s generally good practice to diversify your business portfolio by investing in a mix of different stocks, funds and other investments. But often, people “get involved in their own projects and then branch out as they start to earn more.”

Elon Musk, for example, gambled the $22 million he made by selling off his first company — an online business directory called Zip2 — to buy his next business, an online banking service called

When merged with PayPal, it made $180 million selling PayPal to eBay. That gave him the money to invest in Tesla, SpaceX and other companies.

2. Debt is for companies, not people

“As I built my net worth, I didn’t rack up debt on non-essential purchases like designer clothes or fancy homes,” says Cardone, who while able to pay her bills well, didn’t want to waste money on interest.

Instead, he wanted to put everything he earned into his businesses to make more money. “I also paid cash for my houses, and I have never accrued interest on a credit card,” she said.

3. A house is not always a good first investment

“You may think that buying a home is fulfilling the American dream, but it’s rarely what the rich look for first. In my opinion, owning doesn’t always give you the same return on investment as other places. I own three houses, but I didn’t buy them until I could buy them with cash.”

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Male and female colleagues looking at tablet PC.  Business people are working at desk.  They are sitting in a textile factory.

The morale? Invest time and resources in making and maintaining the right connections. Photo: Getty Images

4. Real estate with cash flow

To protect and grow money, Cardone recommends cash-flow real estate—commercial real estate where you earn a monthly rental profit after mortgage payments, property taxes, and rent. maintenance.

“You can earn passive income by owning these properties, and they are often easier to sell than a primary residence. When you sell a primary residence, you need to find a buyer who can envision living there. When you sell a profitable rental property, you just have to find a buyer who wants to make a profit.”

5. They always buy in bulk

Apparently, the rich are willing to spend more on each purchase to get a better price per unit and save time on repeat “useless activities.” This can apply to a business (the wealthy can hire to buy supplies or equipment in bulk) or to personal life.

“When I can, I buy everything that doesn’t have an expiration date in bulk,” Cardone said.

6. They invest in their network of contacts and friends

“I’ve never had someone invest in me who doesn’t know me. And most of the real estate I own today was purchased from sellers who chose me because we had existing relationships and they trusted my ability.”

The more someone knows you, the businessman explained, the more they will trust you and believe in your talents and abilities. This leads to better opportunities, faster decision making, and higher margins.

The morale? Invest time and resources in making and maintaining the right connections.

7. They are never satisfied

Millionaires are often not satisfied with what they have already achieved, preferring to focus on the next rung to climb. “They believe they can always achieve more. This helps them think big about future business ideas, inventions, investments, and other wealth multipliers.”

8. They don’t waste time trying to do everything themselves.

Like Mangena, Cardone agrees that the rich value time much more than anyone else: “It’s the only really scarce resource and you can’t buy that”

Therefore, it is essential to let go of the need to control every little detail of your business or portfolio, and learn how to outsource “and delegate effectively to good, smart people who will trade their time for money.”

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Elton Gardner

Elton Gardner is a seasoned writer and editor for He is a graduate of a prestigious journalism school and has contributed to numerous newspapers and magazines. Elton is an expert in various fields, including sports, entertainment, and technology. He is widely respected for his insights and engaging writing style. As an editor, Elton oversees a team of writers and ensures the website stays current with the latest trends and breaking news. His writing is characterized by its depth, clarity, and accessibility. Elton's spare time is spent with his family, playing sports, reading, and traveling to explore new cultures. With his talent, experience, and dedication, Elton Gardner is a prominent figure in online media and will continue to make waves in the years to come.

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