How Billionaires Become Billionaires

Nathan Tinkler Australia's Youngest Billionaire

Nathan Tinkler, Australia's biggest billionaire, has gotten a lot richer since taking his company public last August.

From mining to pizza, technology to dental care, rising share prices and successful company floats have added tens of millions  and in some cases hundreds of millions  of dollars to the wealth of leading businessmen and women since July.

Heading the list of big winners is coal tycoon Mr Tinkler, who has made a $100 million bid to buy the Newcastle Knights rugby league club.

Already one of the state's richest men, the public listing of his Aston Resources company in August - and increases in the value of stock since - has boosted his bank balance by at least $634 million, earning the 34-year-old a place in Queensland's exclusive billionaire club with an overall wealth estimated at about $1.027 billion.

"Nathan is a true entrepreneur," Mr Hannigan, who was headhunted from Xstrata to run Aston, said.

"His skill lies in identifying an opportunity, moving quickly to secure it and building the right team to develop it."

Nathan Tinkler is definitely worth tracking if you're interested in learning from tycoons.

 

Who is the World's Richest Man?

Looks like the world's richest man is Egyptian president Hosni Mubarak. The Guardian estimates his fortune at 70 billion USD. Yes, with a big fat "B." Either the Egyptian civil service pays extremely well or this scumbag has been robbing his people blind for at least 30 years. No wonder he holds onto power like Gollum. (Mubarak evens looks a bit like him.)

President Hosni Mubarak's family fortune could be as much as $70bn (£43.5bn) according to analysis by Middle East experts, with much of his wealth in British and Swiss banks or tied up in real estate in London, New York, Los Angeles and along expensive tracts of the Red Sea coast. After 30 years as president and many more as a senior military official, Mubarak has had access to investment deals that have generated hundreds of millions of pounds in profits. Most of those gains have been taken offshore and deposited in secret bank accounts or invested in upmarket homes and hotels. According to a report last year in the Arabic newspaper Al Khabar, Mubarak has properties in Manhattan and exclusive Beverly Hills addresses on Rodeo Drive.

His sons, Gamal and Alaa, are also billionaires. (source: Mubarak family fortune could reach $70bn, say experts)

Last time I checked, Carlos Slim was estimated to be worth only $54 billion.

Becoming a Billionaire: One Helluva Quote

Just came across this gem:

John Raese, a senatorial hopeful told an interviewer without apparent irony, “I made my money the old-fashioned way — I inherited it.” (Source)

Most of us will have to make it using tycoon strategies.

 

Billionaire JK Rowling on Pulling Success From Defeat

JK Rowling is someone who has impressed me over the past years although I have never read a Harry Potter book or even seen a movie based on her bestsellers. However, I have heard her speak enough times to recommend this talk she gave at Harvard.

Anything's possible if you've got enough nerve. - J. K. Rowling

 

J.K. Rowling Speaks at Harvard Commencement from Harvard Magazine on Vimeo.

 

The Tycoon Playbook Site Goes Live

The Tycoon Playbook website has finally been launched.

The Tycoon Playbook

How Billionaires Become Billionaires: Why People Fail

Siimon Reynolds' has a new book out: Why People Fail

Siimon Reynolds explains why people fail in this short video. He also mentions a related book by John Kay called Obliquity – Why our goals are best achieved indirectly. For example, you will probably be more successful financially if you concentrate on doing something well instead of on merely making money. You should have a mission in life that empassions you. 

Obliquity is the principle that complex goals are best achieved indirectly.  This book explains why the happiest people aren’t necessarily those who focus on happiness, and how the most successful cities aren’t planned (look at Paris versus Brasilia).  And if a company announces shareholder return as its number one goal, perhaps we should beware: the most profit-orientated companies aren’t usually the most profitable.

At one time Boeing’s leaders would ‘eat, breathe, and sleep the world of aeronautics’.The company created the 747 and its fortunes soared.When in 1998 it shifted focus to shareholder return and return on investment the company, well, took a dive.

Merely pursuing wealth for its own sake is an empty goal for most of us. It has little power to motivate and inspire.

Donald Trump Biography All American Billionaire Part 1

Donald Trump Biography All American Billionaire

This one hour look at Donald Trump's controversial golf course development in Scotland turns out to be a pretty good biography of the man himself. It ends up being inspirational.

Here's part 2.

Donald Trump Biography All American Billionaire Part 2

Donald Trump Biography All American Billionaire

Here's the second of four parts.

Here's part 3.

Donald Trump Biography All American Billionaire Part 3

Donald Trump Biography All American Billionaire

Here's the third part of four.

Here's the fourth and final segment.

Donald Trump Biography All American Billionaire Part 4

Donald Trump Biography All American Billionaire Part 4

Here's the fourth and final part of the BBC special on The Donald.

Find out how tycoons make their fortunes.