Warren Buffet actually became Billionaire when he was 31 years old; today there are youngsters who become billionaire when they are just 8-year old! Here are some fun facts about the rich in the U.S.
1. Warren Buffet
He became millionaire in 1985 when his Berkshire Hathaway’s stock jumped over $2,000 per share. To compute that with today inflation, that would have been over $170,000.
$1M is only equal to .002% of his total wealth. He learned to invest when he was just 11 years old, thanks to his father who was a stockbroker and U.S. Congressman.
At 13, he opened his business as a paperboy and sold his own horse-racing tip sheet (cheat sheet to help people decide which horse to bid on in a race). According to biography.com, when the young Warren Buffet filed his tax that year, he claimed his delivering bike as a deduction!
2. Inheritage and Wealth
14% millionaires say they earned their first monetary support from their parent. 42% of the rich say they do not think they are that rich.
17 Differences in The Mindset of the Rich vs. The Poor
3. The Path to Wealth
Entrepreneurs are usually self-made millionaires and billionaires, they know the harder they work the more lucky they become. Many of them started life in poverty, having nothing but the empty hands.
90% billionaires graduated from college. Yet their mastered field is less likely related to the business that takes them to success. Todd Wagner is one of those 5% have a degree in Legal, Justice and Laws; while 3% of others were on their way to be a doctor.
Those who came from nothing to become somebody usually do not waste their money on luxurious cars. On the other hands, people who inherited wealth from their parent more likely to spend over $150,000 on their vehicle. Lexus SUV is most bought by average income families.
6. Where Do They Live ?
Did you know it’s harder to differ a rich to an average person in the East than the West of the U.S ? Plus Maryland tops the country in Millionaires. Such a great deal for a petite state !
7. How Much Do They Invest on Average ?
Wealthy people never stops investing. Poor people tend to hold on to their fund for so-called emergency situations, but it’s more than often they spend it on impulsive purchases.
1/6 of the Billionaires are still single.
Take Jack Dorsey for example, he’s the creator of Twitter and Square and yet married.
Are you also single and successful ? Share your story today !