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Mar 8
Forbes Billionaires List
The buzz this week includes Forbes updating the 2008 list of the world's billionaires. Bill Gates is no longer the world's richest man.  He dropped to number 3.

 

 

How are billionaires made? Many people think that billionaires or wealthy people in general, for that matter, come from rich families, but on a perusal through the list, or any list on rich people in America, there is the note that many wealthy people come from poor backgrounds or broken families.  Take for example, Tyra Banks who repeats on her talk show about her divorced parents.  Another example is Sara Michelle Gellar whose father left her when she was young.  Then there is Andrew Grove who came to the United States penniless.  There are not many like Paris Hilton who are born rich, and then continue the wealth on their own. 

 

What are the secrets of wealthy people?  People who are not born with money all seem to have ambition as their drive.  If someone does not have money, but ambition, they are able to make money in the future.

 

 

Are there billionaires in the making in law? There are attorneys who start law firms in areas of law that are not of current interest to the main population, but because of insight they have in the future they gain notoriety in the field when the practice areas become mainstream.  Take for instance those who advised on China laws before China became a member of the WTO.  These people knew to specialize in a place where many people later wanted to do business in, but did not understand the legal requirements for entrance.

 

 

Why is Bill Gates no longer the richest man on earth?  Many people can make money in their fields of endeavor, but after a while, making money itself may become meaningless.  Bill Gates has become an example of someone who knows how to give away money.  There is nothing wrong with wanting to make a lot of money especially when that goal also includes the power to decide how to give it away.  Many of the young and wealthy in Silicon Valley are following Bill Gates in creating foundations to give away funds to education and other social causes.

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