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||Five years|
|Pony Ma||32.1 billion||3 years|
|Mark Zuckerberg||109.5 billion||2 years|
|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||few months|