Names like those of billionaires Warren Buffett, Jeff Bezos and Elon Musk are well known to us. We know about them that they are founders and heads of companies and that they are simply rich. But how did they make their first million and how long did it take them to go from millionaires to billionaires? Is there any regularity? Let’s see.
Research by CEOWORLD magazine showed that it usually takes nine years before people become members of the billionaire club after starting their business. Also, the world’s richest people started their highly profitable companies when they were, on average, 29 years old. They usually make their first million when they are around 38 years old.
In the case of the world’s richest man, Elon Musk, the CEO of Tesla took only four years to reach this milestone. Musk’s current net worth is over $225 billion, keeping him at the top of the billionaires list.
It took Jeff Bezos, the founder of Amazon, just three years to reach the milestone in his early 30s. It took Microsoft founder Bill Gates twice as long to reach his first million (in his mid-twenties). For the fourth richest person, it becomes a reality in six years. The tycoon Warren Buffett needs five years to make his first million.
For the founder of Inditex, Amancio Ortega, it was not so easy. He worked for 11 years to reach his first.
Here is a list of some of the world’s most famous billionaires, their current net worth and how many years it took them to make their first million:
Name
Net worth in dollars
Years of work to the first million
Jeff Bezos 148 billion 3 years Michael Bloomberg 96.3 billion 7 years Warren Buffett 12.6 billion 5 years Pony Ma 32.1 billion 3 years Mark Zuckerberg 109.5 billion 2 years
Philip Knight
41.1 billion 16 years Elon Musk 225 billion 4 years Li Cashin 36.3 billion 8 years Larry Ellison 128.8 billion 9 years Hui Ka Yang 3.1 billion 3 years Larry Page 114 billion 1 year Bill Gates 108.5 billion 6 years Amancio Ortega 84.7 billion 11 years Sergey Brin 109.4 billion 1 year Wang Jianlin 6.2 billion 3 years Jack Ma 25.1 billion a few months
2023-11-04 14:15:39
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