How to Be a Billionaire: Tips from the Titans of Wealth

How to be A Billionaire, by Martin S. Fridson Martin starts out with several fundamental strategies: * Take Monumental Risk * Do Business in a New Way * Dominate your Market * Consolidate an Industry * Buy Low * Thrive on Deals (my favorite) * Out-manage the Competition * Invest in Political Influence * Resist the Unions And key principals: ? Pursue the Money in Ideas ? Rules are Breakable ? Copying Pays Better Than Innovating ? Keep on Growing ? Hold on to Your Equity ? Hard Work is Essential ? Use Financial Leverage ? Keep the Back Door Open ? Make Mistakes, Then Learn from Them ? Frugality Pays ? Enjoy the Pursuit ? Develop a Thick Skin I can tell you first hand that these concepts and strategies are key to growing a business and creating wealth. While building a real estate holding company with $25,000,000 in assets in less than 5 years many of the concepts in this book were a big help. Take this excerpt which illustrates the point of being tough, having thick skin and self confidence: "In a classic confrontation over Icahn's hostile bid for Phillps Petroleum, Morgan Stanley investment banker Joe Fogg declared the proposal preposterous. "What the hell do you know about the oil business?" he demanded to know. "You don't understand, Joe," Ichan calmly replied, "I'm not here for an interview" I wend out and bought, "King Icahan: The Biography of a Renegade Capitalist" by Mark Stevens as soon as I read those lines. There are several other great quotes, stories and examples for the business minded to further explore and tuck away in there mental business toolbox. By Kevin Kingston, Author of: A 20,000% Gain in Real Estate

Mr. Fridson has clearly dissected for us all the possible ways of achieving a net worth beyond a billion. The book is written in a clear, concise manner. It's almost like a tree diagram, if you will. Meaning the goals are like the nodes of the tree and the pathways to get to the goals are like the interconnections in a tree diagram. He has backed up each section and node with examples of individuals who have travelled those paths such as H.L. Hunt, Ross Perot, Sam Walton, John D. Rockefeller, Bill Gates, Paul Getty, and Warren Buffet just to name a few. This book is an extremely good starting point if you would like to reach the top ranks in net worth. As the author correctly points out, we are lucky to have such a book in existence today, since even a decade ago people were not lucky enough to have a powerful source of information at their disposal. A word of caution for the individuals in the investment field: Mr. Fridson points out and proves that to amass billions just by mere investments is not possible. He proves that to achieve billions in the investment field, one must acquire a substantial stake in a company and control the management and the direction of the company as a whole. This is precisely what Warren Buffett has accomplished (in despite of the common myth that he is just an investor).The book is concluded in what I would say the most beautiful chapter. This is where we realize that tenacity and perseverence are traits ascribed to the great fortune builders. More than loving the money, self-made billionaires love the pursuit of money. We learn here that ordinary efforts and conventional approaches do not produce extraordinary results. One needs to do things differently and persistently to outmanage the competition. To sum up, this is the greatest book (if not the only one) to teach us the pathways to amass billions and leaves the choices to us as to which path we like to follow to get there.Good Luck!Steve.

I found this a very enjoyable study of the characteristics and practices of great wealth builders. The ideas here are applicable to building great businesses, whether you aspire to the Wealthy 100 list or not. For the most part the biographies both amplify the principles put forth and give interesting insights into the essence of the personalities behind these successes.Use this book to refine your focus on the personality skills you need to further develop to attain the level of financial success you desire.

Nowadays being a millionaire is much like being well dressed at the prom: "you look good but you're not really special." Billionaires however have attained a level of wealth that truly sets them apart. "How to be a Billionaire" recognizes this and masterfully tells the story of today's most famous titans of wealth such as Bill Gates, Ross Perot and older money like H.L. Hunt and John D. Rockfeller. The Book is organized along priniciples such as "Copy don't Innovate" and utilizes the highly specific examples of wealthy industrialists like Gates to clearly explain these kernels of wisdom. Great Book. Read Think and Grow Rich if you want motivation and to feel empowered. But if you want to make "Billions" read this book.