What does the richest person you know, do for a living?
By know, I mean personally know. By richest, I mean self-made richest. How did they get their wealth?
Trending Content - Off Topic Forum
Career Resources
Lead PM. Largest fund. > $40B at > 1% Do I need to expand?
Do think you will make the Three Commas club too?
no
You really did not have to add this phrase.
You really did not have to add this comment.
The issue here is people post and don't know how to frame a debate or an analysis. You want comments about what the meaning of someone being self made is … or a look at some successful people in people's circles. I think you want the latter and just threw that in for no apparent reason in a breath of naiveté.
Also, no man is truly self made. The only self made being is the creator of the universe.
Don't be such a pedant, everybody knows even Jesus popped out of someone else. Probs just means not being like one of Sam Walton's heirs and doing nothing to expand their billions.
X
A family friend has over a $100mm net worth and accumulated most of it through selling a non-tech startup that was less than five years old.
I’ve met billionaire investors and F500 executives but wouldn’t say I know them more than on a surface level, so I’m not including any of them.
Started and sold two insurance companies
Created company sold it.... bought another company fixed it sold it.... invested in BTC sold it..... Wealthy people with 3 commas buy and sell assets. Not many 3 comma club guys are in finance sure there is a few but there are may more doing entrepreneurship
was gonna comment - the richest people i know work for a living, the wealthiest people i know live off their investments
What is the difference between rich and wealth in your opinion
Works out two hours a day, sips on $500+ wine everyday, plays three hours of golf and drives a $125,000 car. He's a generous guy though. Involved in multiple charities and gives pretty generous wedding gifts
I would prefer not to say his name as a billionaire but he was an early investor in Facebook and Crypto-Currency. I emailed him about a ETF regarding Crypto. He actually sent me email and gave his personal email to me after. He is a really nice guy, we speak on the regular and we have seen each other multiple times as friends.
One of the Winklevoss twins.
I have the personal phone number of a Fox Business commentator. Got it off of Twitter after I asked for advice. They said sure and told me to DM my number.
Chairmen/CEO of massive company or another person who is the founder of ~$40bn hedge fund (and all around legend)
Both happen to be very nice people...both worth roughly $7bn, which I think may be a conservative estimate
Former boss is 92(?) now and is worth about $1 billion by building apartments in the D.C. suburbs in the 1960s and never selling them. They are now Class C pieces of dog crap but they print cash.
CEO of one of the main online brokerage companies. Worked his way up through the company.
Old CEO is a billionaire real estate tycoon.
Another billionaire started out in energy and killed it, now he runs his own PE firm and rakes in the cash with all of his portfolio companies.
Another past CEO who is a billionaire started with a local trash company then moved into hotel development. Now he develops all property types and has a PE arm with the same management team who has the sauce - they turn no-name companies into billion dollar companies regularly, it is pretty impressive.
Coming from a pretty rural place, there's not a whole lot of wealthy people around - and thus people I would know on a personal level. But I know two guys that are in the mid 8 figure range
A: co-founder of a online betting company from the 15 years back, which was acquired by one of the largest betting companies in the world. AFAIK, he's not doing much these days. Travels the world to play poker, and has some low-key projects tied up to his hobbies. Used to be a developer, but put that away as soon as his share of the purchase came in.
B: Older man, probably the most extreme case of workaholic I know. Works 6 days a week, 12 hours a day - he pretty much lives in his shop. Apparently made most of his money during the 80s, buying up cheap real-estate which has skyrocketed in price ever since.
That seems also seems to be the trend among people in the 7 to 8 figure crowd where I'm from. They either own companies, real-estate, or both.
Inherited the family fortune and now just sits on company boards and attends events.
Before banking, I worked in PWM. One of the clients I met with was worth a lot.
woah
Well that narrows it down to about 3 people lol
Only a small fraction of their wealth was in the account I was dealing with.
Thinking about it - probably MacKenzie Bezos. We had spin classes together back in the day. She's nice.
She is truly a self made example. Without her skills in keeping the optimal environment for success in her house, much wealth would have not grown in the world today.
MacKenzie Bezos burner account
dw he isn't https://www.wallstreetoasis.com/files/styles/w800/public/inline/images/…
Buddy's grandpa started one of the first dish networks. $1b+ family but you'd never know it. Humble people.
Another family friend was an early investor in Apple. Not sure how much that made them but I know it was a massive sum.
I know, but haven't spoken to for a while, the founder of priceline. Still have his number. Nice guy.
My uncle, real estate billionaire in Southern California. Worth around $1b or so; the man always dresses in t shirt and short; goes work out everyday despite being 89 years old. Cheapest man I know, still wears a $10 watch and eats at a Chinese buffet everyday. Started working as an optometrist after the Vietnam war and built up his RE portfolio from there.
trolls on wallstreetoasis
A young billionaire friend who is intensely good at what he does. When us buddies get together for drinks and we ask him what his secret is—it's always about handling crisis right before it becomes a crisis. He's always one step ahead of a looming disaster in his company that it blows our minds out. Meanwhile, here I am just reading blogs on business management (case in point: https://www.netlawman.co.uk/ia/crisis-management-planning</a">this article)... in case I ever get to have my own business. LOL.
1) Family real estate development business
Started from nothing the entire family was very poor, built bit by bit entire family (dad and 2 sons) net worth today would be around $150 million, neither of the 3 attended university.
2) Large scale semiconductor distribution
Does not manufacture, only sales, self made from scratch personal NW would be around $40-60mn.
3) Water and tobacco products manufacturing
Business built by their grandfather who came from nothing current NW - $1B+
4) PWM practice
Worked in private banking for 8 years, started his own PWM practice he has no RMs under him only 6-7 support staff, currently manages $400mn you can imagine the yearly commission on that. Truly self made dad and brother passed away at a young age, dad left behind a portfolio which he panic sold entirely during the 1999 tech bubble crash to sustain him and his mother, that mistake motivated him to learn about the markets.
Aspernatur tenetur odit facere. Alias placeat voluptatem nihil. Fuga suscipit deleniti ut laborum alias libero ut. Quos voluptas hic aperiam architecto est quo dolores.
Libero pariatur ea est nihil unde libero quia quaerat. Suscipit dolor itaque mollitia modi sed molestiae sed et. Minus et voluptatem consectetur ut voluptas debitis saepe. Aut iste quis sapiente quasi.
Esse illo et recusandae animi est consequatur consequatur sed. Velit culpa necessitatibus eum et pariatur omnis maxime.
Qui porro sint nam maxime. Animi fugiat eos iusto atque et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quo cumque omnis tempora dolorem dolor quia iusto. Molestiae et est quos ut nulla error. Itaque aspernatur ut quibusdam pariatur. Vel reprehenderit numquam aut et inventore eos. Rem repellat quisquam nam aperiam. Quo eveniet sunt qui ipsam. Sed quisquam autem quaerat cum sapiente.
Amet eius facilis officia consequatur eius non velit ut. Repellat iste temporibus ex sed quos doloribus. Omnis quis itaque hic.
Dolore quia voluptatem enim corrupti adipisci ipsum. Ipsa accusamus dignissimos quibusdam impedit saepe quia.
Aut iste consequuntur consequatur quidem saepe aut a. Quia explicabo in omnis id. Hic nihil qui nemo. Magni delectus sunt tempore omnis nam adipisci.