HOW TO BECOME A BILLIONAIRE aka very very rich anywhere in the world
The Forbes 400 list just came out. For those who don’t bother this is the list of the 400 richest people in
On your quest to US$1 Billion the how to’s are:
Look for opportunities in Economic or Social upheavals
The Russian oligarchs-Abramovich, Deripaska, Berezovsky and their ilk come to mind. One day in the nineties the Russian communist system imploded. The system became free market and the Government privatized hundreds of industries, sectors and workers who had never heard of Wallstreet were given share in their factories.
The clever Russians made money in 2 ways:
1. Buying the Share Certificates for peanuts from the workers. Similar to how some sly characters bought Mumias Sugar shares from poor semi-literate farmers in Western Kenya for Sh 1.50 a share when the market price was Sh 7.00.
2. The cleverer ones just bought State resources from the Russian Government for a song. Just like someone wanted to buy Kenya-Re for KSH800 million 7 years ago. Don’t forget 40% of Kenya-Re was sold recently for Ksh 2.2 Billion.
Closer home the liberalization of the Economy in the early nineties provided opportunities for Kenyans to become super wealthy.
There is no way you will become a billionaire without taking a risk. When SAFARICOM and KENCELL(now CELTEL/ZAIN?) came to Kenya they had a hectic time looking for major dealers for airtime. Many people were skeptical, they doubted that Kenyans could buy phones at Sh 10,000 and Airtime at Sh 500(there was no Bamba 50 or Sh 250 card).
At present all the main dealer slots are filed up and you can't join the club.
Richard Rainwater took a risk in buying into the Oil sector when Oil was US$15 a barrel during the Dot-Com boom but who’s laughing now. Everyone thought he was nuts, Business Week even did a cover calling him a Dinosaur.
Grow a thick skin
On your way to the top you will face many challenges . A thick skin helps overcome all the hurdles.