Australia's Youngest Tycoon: Nathan Tinkler
Nathan Tinkler was a $400/week electrician not too long ago. Then he took a chance to jump into a fast growth sector of the Australian economy: mining. Then in just 18 short months he parlayed an A$1 million grubstake into A$445 million.
...Nathan Tinkler is on track to becoming Australia’s youngest and fastest-ever self-made billionaire.
This rags-to-riches tale, highlights how the mining boom is changing lives and creating a new generation of super wealthy in Australia. As a teenager, Tinkler left his small hometown of Inverell and made his way to the coal rich mines of the Hunter Valley. There he earned A$400 per week working as an apprentice electrician, before starting his own business servicing the mines.
But Tinkler was hungry for bigger things. In 2004, he saw an opportunity in a small unwanted Queensland coal mine.
The gamble paid off with Tinkler's current net worth estimated to be A$610 million ($596 million USD). Tinkler now has even grander plans.
“I have plans to develop the infrastructure around the mining industry as well as developing more minerals assets the team and myself have identified,” he said. (source)
There are a couple of obvious take-ways here for anyone interested in building wealth. One, you need to focus on fast growth industries. Two, at some point you have to overcome your fears and roll the dice. Most people just wait and wait for more proof until the opportunity has passed.
More on how billionaires become billionaires.