Wealest

View Original

22 Wealth Creators and Their Philosophies

Here’s a list of 22 wealth creators and their philosophies (in no particular order).

A disclaimer first, though. Don’t take this as the whole truth. Each person has more than a single idea that makes up their point of view on wealth creation. I’ve pulled out a few core ideas that I find most interesting. Enjoy.

22 Wealth Creators & Their Philosophies

Warren Buffett:

Jump over 1-foot bars. Be greedy when others are fearful and fearful when others are greedy.

Naval Ravikant:

Productize yourself. Scale your ideas through digital media and escape competition through authenticity.

Rachel Sibande:

Leverage your intellectual capital - the greatest capital you have.

Nassim Nicholas Taleb:

Operate in positive Black Swan environments where randomness helps you. Use a barbell strategy to maximize upside and minimize downside.

Mohnish Pabrai:

Make low risk, high reward (Dhandho) bets. "Heads, I win; tails, I don't lose much!"

Sara Blakely:

Fail often. What you don't know can become your greatest asset if you have the confidence to do it anyway, even though you haven't been taught or shown the way.

Felix Dennis:

Ideas don't make you rich. The correct execution of ideas does.

Scott Adams:

Capitalism rewards things that are both rare and valuable. You make yourself rare by combining two or more "pretty goods" until no one else has your mix.

Peter Thiel:

You don't have to wait to start something. If you're planning to do something with your life, if you have a 10-year plan of how to get there, you should ask: Why can't you do this in 6 months?

Charlie Munger:

Bet heavily when the odds are in your favor. The big money is not in the buying or the selling but in the waiting.

Sheila Johnson:

Money doesn't fall out of the sky… You need to have a plan, you need to time things right, and you need to be able to persuade people to invest in you.

Marc Andreessen:

Invest in what 'nerds' do on nights and weekends. Strong views loosely held. Don't stop, don't slow down, and don't second guess.

Jim Rohn:

If you let your learning lead to knowledge, you become a fool. If you let your learning lead to action, you become wealthy.

Ramit Sethi:

Saving money is not the key to building wealth— investing is.

Derek Sivers:

It's not what you know; it's what you do consistently. Once you have some success, it's either a "hell yes" or a "no."

Tony Robbins:

Cap your downside, look for asymmetrical risk and reward, and then set-up an asset allocation system that allows you to be wrong. Finally, be a giver.

Reid Hoffman:

Solve the simplest, easiest, and most valuable problem. Repeat.

Seth Godin:

If you are pushing a business uphill, start another business- one that you can push downhill.

Paul Tudor Jones:

Focus on not losing money. Don't be a hero. Don't have an ego. Always question yourself and your ability.

Ray Dalio:

To have both the money you need and the job you want, you have to be creative and flexible. Make your passion and your work the same thing.

George Soros:

It's not whether you're right or wrong, but how much money you make when you're right and how much money you lose when you're wrong. * See my article on asymmetric outcomes for more details on this.

Oprah Winfrey:

Be thankful for what you have; you'll end up having more. If you concentrate on what you don't have, you will never, ever have enough.

There are 22 wealth creators and their philosophies. Start now!

If You Want More Ideas Like This, Subscribe To My Newsletter for Free ↓

See this content in the original post