I have always thought of the day I would be a billionaire, being a billionaire is not an easy task as the zeros are not little as they look. There are several zeros in a billion and this is one major concern. How long will it take to be the world richest man currently, even while paid a good sum of money per hours.
Being a billionaire in your lifetime with the US minimum wage.
In the United States, which is one of the largest economies in the world, the minimum wage is $7.25 per hour, impressive. In so many countries, $7.25 per hour is a large sum of money to earn on an hourly basis but then, how long will it take for a person who started working at the age of 12, getting the current minimum wage in the US while working for 24 hours without rest, no inflation, nothing to spend on and no tax. It would take about 15,450 years to make $1,000,047,600, this is not including tax, vat, expenses, inflation and working non-stop.
If it takes this hard to be a billionaire, then why do so many people aim to becoming a billionaire? It falls back to achieving great milestones and being among the billionaire club. So how do billionaires become billionaires at the age of 30 years. This is what I will be looking at next.
People making the billionaires.
Most of the billionaire status of several businessmen are called paper billions, money of the public. One reason why a lot of people go into business is because it is easier to achieve the billionaire status by creating a business and taking public than being paid salary or investing in stocks and bonds. Let me tell you the truth, it is not easy to become a billionaire even by investing in stocks solo. Warren buffet owns a company Berkshires Hathaway in which people trust for their investment and people pour in their money in other to give liquidity and enough funds for investing.
The truth is most billionaires today are billionaires thanks to the help of other people and their money. They make little millions from scratch and then pitch their ideas to other people who are willing to invest into the business. These investors invest into this business giving the business liquidity and enough power its plan.
The billionaire status is then identified by the share value of the company available on paper. Jeff Bezos sells $2 billion of his shares yearly to keep up with his billionaire status life as well as do other investment. This is how a lot of people attain the billionaire status rank at a very early age and very easy.