How Millionaires Make Their Money I believe that at one point in every body’s life, there’s been a dream or aspiration to become rich and amass great wealth. Unfortunately, only about 16 million people out of the entire world’s population have had this dream become a reality. While a good portion of the rest of the world’s population only admires and even envy the 16 million millionaires in the world, others like us – ‘us’ because you’re reading this piece – simply want to know how they successfully got to such heights. We want to understand how they were able to overcome the shortcomings and risks that have so lined the world’s civilization today to get to where they are. Being curious to understand how they make, sustain and increase their wealth, I have been able to come up with a view points as to how they were able to accomplish such financial feat. Before we move on to the things they did – and still do – to attain their financial status, I find it necessary to say that your mindsets are the most powerful determinant of how far you’d go on the financial success ladder. They can either push you forward or limit the efforts you decide to make towards becoming a millionaire. You should therefore develop and maintain a positive mindset towards your goal (or dream) of becoming listed among the lucky 16 million. That being said, here’s a list of how those famous millionaires make the wealth they possess:
1. THE MEDIA With the current trend around the world today, people who have made money at one point or the other through entertainment have go ahead to become millionaires while those who were already making millions from the media are right on their way to becoming billionaires by just giving people what they love to see and hear. Let’s begin with younger millionaires like Justin Bieber, who started loading in cash from the media while still a teenager. With his timely release of albums, he has gained popularity – and even reverence – among young lovers of improvised jazz. PewDiePie (Felix Arvid), a video game commentator from Sweden has the YouTube channel with the highest number of subscribers (30 million) in the world. PewDiePie makes over $10,000 daily from his channel where he plays video games on Red Bull and comments on them for viewers to watch. You think the media is an effortless route to the top of the ladder? Let’s see how you gather up to 30 million active subscribers on your own channel!
2. WINE AND DINE We just cannot do without eating and drinking. So, if you’re wondering how marketing food and drink earns one enough income to become a millionaire, ask Roger Eaton, the CEO of Kentucky Fried Chicken or better still, you could look up the profile of Steve Easterbrook, CEO McDonald’s. You can also imagine how much people who are able to acquire franchise under these powerful food brands (and other brands too) earn on a yearly basis given that man’s desire for food is never completely satiated. With an average annual revenue of over $24 billion, the food industry qualifies as one of the most lucrative industries even amidst the huge competition. 2|Page
3. PRODUCTION The profile of the owners and forerunners of the Volkswagen Group would definitely give you more insights as to how manufacturing is also a profitable source of income. Having a current annual revenue of $288,888 million, this business has made its owners nothing short of millionaires. Other companies like Apple, Toyota and Samsung are also perfect examples of booming brands in the manufacturing industries with annual revenues of $229,234 million, $265,172 million and $211,940 million respectively. While the manufacturing industry remains a notable one in terms of profitability, it requires a large capital base for startup and a basket full of patience before a break-even point can be reached.
4. ENERGY AND PRODUCTION We canâ€™t stop using energy, life would be bland without it. Little wonder the worldâ€™s largest companies according to market capitalization are energy firms and energy producing/servicing firms like Royal Dutch Shell, Total, Eni and a host of others. It might also shock you to know that Saudi Aramco, a Saudi Arabian petroleum and gas company has been estimated the largest company existing on earth with worth of up to $10 trillion.
5. FASHION In the world today, good clothing and accessories have become the order of the day among celebrities and even ordinary members of every society. The likes of Phil Knight, founder of Nike, Alain and Gerard Wertheimer, owners of Chanel and Amancio Ortega, founder of Zara and a host of others have climbed to the top of the financial ladder just by seizing the opportunity to put good clothing and accessories on humanity. I’m sure you’ve heard of Viola Tan and Rachel Lim, co-founders of Love Benito, one of Singapore’s most successful fashion retail. Love Bonito started out as a local fashion blog and retail business selling used clothes and owned by teenagers. Today, it has become a substantial international brand with branches in different locations of the world and a net worth of seven figures.
6. TECH Given the rate of technological development around the world today, you can’t agree less that technology is one of those top notch ways millionaires make their money. Virtually every sector of the world’s economy today as well as our day to day activities have been in one way or the other influenced by technology. You’d wonder why Bill Gates, founder of Microsoft, remained the world’s richest man for over two decades; and Mark Zuckerberg, founder of Facebook remained the world’s richest person under 30 until he clocked 30. Mobile apps and games are being downloaded every seconds from online stores belonging to Google and Apple. For every of these apps and games downloaded, their developers get to earn stipulated amounts of income and I bet you that owners of Fortnite and Helix Jump can’t be anything short of millionaires. 4|Page
7. GROSS INVESTMENTS If you’ve been wondering how the likes of George Soros, Warren Buffet and Abigail P. Johnson got to the top of the ladder without having brands in the market, it is important you know what they did – and still do. They invested! They are still investing in other people’s businesses. Having invested in and currently benefitting from the yield of a lot of top-notch companies and financial institutions, a lot of these world-class investors have now parted their money into philanthropy.
8. REAL ESTATE Ask anybody, real estate is the most valuable asset any one can have because land and landed property cannot depreciate. For this reason, real estate happens to be one of the most lucrative business in the world. Michael Otto, a German property tycoon now has his group – Otto Group – trending as the second biggest online retailer (after Amazon). The likes of Lee Shau Kee and Wang Jianlin are currently on top of the food chain, thanks to the ever-appreciative nature of property.
9. ONLINE MARKETING Strategies for generating money online isn’t as complicated as they may seem but people who became millionaires from online marketing did not do so in one day – energy, time and devotion remain essential to every online marketing success. While there are a lot of things millionaires do to make money online such as affiliate marketing, consultancy, lead sales, freelancing, and building online communities; you can also transit your current business onto an online platform if you wish to hit six figures. Just as 23-year-old Sabrina Philipp did to become a six digit income earner, right before you establish your online marketing platform, ensure you set up where your target clients can find you. Social media has become a platform most online businesses cannot survive without. Sabrina’s financial success on the digital market can be largely contributed to a flawless reputation and her investment on a digital coach.
I hope this gave you a better idea of different vehicles that millionaires leverage to make their fortunes.
Best thing about it… I HAVE SOMETHING THAT YOU CAN LEVERAGE!!
Disclaimer: Vehicles mentioned in the rapport are vehicles leveraged by different people to create their wealth. Years of hard work goes into it and it does not guarantee success or results. This is purely information gathered and given to you