Rich means wealth, wealth derives from Capitalism, which means one word… Ownership.
Analyze any really wealthy person: the characteristics will be different, there will be educated and non educated, clever and silly, men or women, White men or Asians or of whatever ‘race’. So if they have different characteristics, then what is common among them, if there is any?
What is the one common characteristic that have all the big rich? Well, there is one commonality ; just one. They own or control some assets, then exercise their right to leverage on these assets and collect from those.
For example: Bill Gates owns Microsoft (1st in the The World’s Billionaires List), Amancio Ortega owns Zara (2nd in the The World’s Billionaires List), Warren Buffett owns an investment company (3rd in the The World’s Billionaires List), the Mexican tycoon Carlos Slim Helu owns telecom industry (4th in the The World’s Billionaires List), Jeff Bezos owns Amazon.com (5th in the The World’s Billionaires List), Mark Zuckerberg owns facebook (6th in the The World’s Billionaires List)… Donald Trump owns half of Manhattan, J. K. Rowling owns copyrights from her books, Elon Musk owns high tech automobiles company Tesla, Tim Cook owns shares of tech giant Apple, Usain Bolt or Oprah own their own brand (themselves) e.tc. … and Vladimir Putin ‘owns’ an entire nation.
All the richest guys in the world, they have ownership on something ; we don’t care how they acquired it, legally or not, if they inherited, if they lied and cheated, if they stole it from others, or built it from zero. The common characteristic is that somehow acquired, the ownership on some or many assets and then, they exploited them.
Again, be careful ! It’s not the income that makes them very rich but ownership. Someone, can be rich for a while, if he / she has a nice look and good voice, he / she can be a popular singer and make a lot of money for as long as he / she sings. When he / she stop singing, if he / she hasn’t acquire ownership on something, his / her wealth can easily reduced or even disappeared. So, it’s a good thing to have a good income from your job, but for to be a really rich and permanently rich, you have to own something. Period.
Of course, it is essential for to be permanently rich and get richer and richer, to exploit the asset you own. If you own some asset but you don’t exploit it, then you will not have income from it and you will not be rich or if you are rich, your wealth will be reduced.
Some articles mention as important for someone in order to be rich, to build their networking and communication skills. Although it is a plus but by itself, it’s not sufficient. No one succeeded to be rich, only by developing networking. Go to the Biography section of a library and count on how many people through human history, became wealthy by being socially networked and compare them with other people, that owned and leveraged personal assets.
So, now you know the one and only commonality of the permanently rich people, of the people that are getting richer and richer as time passes by. Now, you have the opportunity to use this capitalism’s ‘tool’ of wealth creation, in your favor.
The good news is that capitalism offers you the opportunity, to win from others successful people’s efforts. You don’t have to create a successful business by yourself, from the beginning! That would be difficult, because other wouldn’t have the lots of money needed to create a new company, others wouldn’t have the time to do this, others wouldn’t have the skills to do it etc. But capitalism gives to anybody, the opportunity to own / participate a company that produces some product or service and creates wealth. This is happening through shares and stock markets: anyone can buy and own, some shares on a very strong company like Google, Apple, Intel, Amazon etc, that elsewhere wouldn’t have the ability to create his own Google, Apple, Intel, Amazon…
See Buffett: he is 3rd in the The World’s Billionaires List without to be an entrepreneur himself ; instead, he is an investor (long term), through stock markets.
So, even if you don’t have a large amount of money and you are relatively poor, even if you don’t have the knowledge to create such a company or you don’t have the time to do it, you can very easily, buy some shares on a company and thus, have a share of ownership on it. It’s so easy that anyone can do it.
Of course, having the convenience to acquire some shares in some companies, is one side of the coin, in order to become rich. The other side of the coin is to do it successfully and by this, I mean WHAT to buy, WHEN to buy, WHEN to sell, WHAT to sell. These issues are crucial to succeed in stock markets.
Shares and Stock markets are a wonderful ‘tool’ of wealth creation but if you don’t know some basics, instead to get rich, you can lose. And I think, you you’ve heard of many who lost, from their engagement in stock markets. But don’t worry…
In my book HERETIC INVESTOR, I explain How To win easily from markets. By this, I mean that I present you, a complete and easy method to understand how markets work and all the important for someone to profit from the markets, e.g. When and Why to buy, When and Why to sell, What to buy, What to sell.
I emphasize that my book is for investing, not for trading and speculation, as only through investing – as I explain – you can get rich from the markets.
Now, the ball is in your hands. Will you score or not?
P/S: (1) My book is FREE on Kindle Unlimited.
(2) After you read it, if you want make a review on Amazon.
(3) HERETIC INVESTOR’s Page on facebook, here.