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The latest news on Billionaires from Business Insider

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    Alisher Usmanov

    The mystery bidder who bought the Nobel Prize gold medal awarded to the US scientist James Watson for more than $4.7 million (£3 million) will give it back to its owner.

    Watson, along with Francis Crick and Maurice Wilkins, unravelled the double-helix structure and function of deoxyribonucleic acid (DNA) in Britain in 1953. They received the Nobel Prize for medicine in 1962 for their groundbreaking work in genetics.

    Now 86, Watson said he planned to donate part of the proceeds of the sale to charities and to support scientific research.

    Today, the bidder was revealed as Russia’s richest man, metal and telecommunications tycoon Alisher Usmanov, who has an estimated fortune of $15.8 billion (about £10 billion).

    Most Britons will also be familiar with him as one of the main shareholders of Arsenal FC.

    He said he decided to buy the medal and give it back to Watson when he learned Watson was giving part of the money to charity.

    It was the first Nobel medal sold at auction by a living recipient.

    Crick died in 2004 and his medal was sold for $2.27 million last year. A letter to his son also sold for a whopping $6 million (£3.8 million), in which he outlined the structure of DNA shortly before the discovery was published.

    Join the conversation about this story »


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    520 park avenue building new york

    Back in September, it was revealed that New York City’s new most expensive condo will be a $130 million triplex penthouse in the yet-to-be-completed 520 Park Avenue building.

    And though the city’s real-estate community was all abuzz, there were no renderings available of what the aforementioned penthouse will look like.

    Until now. BuzzBuzzHome reports that the 520 Park Avenue website is now live, giving all of us regular people a look at how the world’s billionaires will live.

    520 park avenue building new yorkThis mansion in the sky will have over 12,000 square feet, a 1,257-square-foot terrace, and gorgeous views of Central Park. It will go on sale with other units beginning early next year, according to Bloomberg, and will be completed with the rest of the building in 2017.

    The 54-story tower is being designed by Robert A.M. Stern Architects (RAMSA) and developed by Zeckendorf Development Co., the same firms behind the celebrity haven 15 Central Park West and 18 Gramercy Park.

    520 park avenue building new yorkIt will be nearby other luxury high-rises on the so-called Billionaires' Row, sitting between 60th and 61st Street. That makes it close to all of the things wealthy New Yorkers love to visit, from the Metropolitan Museum of Art to Barney's.

    520 park avenue building new yorkThere will be a total of seven duplexes in 520 Park Avenue, with over 9,000 square feet each and starting at $67 million. Twenty-three single-floor units will make up the rest of the building's condos and will be priced at a more modest $16.2 million with 4,600 square feet, according to the company press release.

    520 park avenue building new yorkNeedless to say, the residences will have only the finest marble, wood, and appliances.

    520 park avenue building new yorkAnd the view will be incredible.

    520 park avenue building new york

    The building itself will also have plenty of amenities, including a swimming pool, bi-level health and fitness center, sauna, children’s playroom, and screening room.

    520 park avenue building new yorkThere will also be an airy "salon" for residents to relax in, and a garden area.

    520 park avenue building new yorkBoth locations will be perfect for socializing with your wealthy neighbors.

    520 park avenue building new york

    The $130 million triplex will join the Woolworth Building’s $110 million penthouse and the $118 million trio of penthouse apartments at Battery Park City’s Ritz-Carlton Residences as some of the most expensive homes ever listed in New York City.

    Looks like 520 Park Avenue will fit right in.

    520 park avenue building new york

    SEE ALSO: The New Billionaires' Row — See The Incredible Transformation Of New York's 57th Street

    DON'T FORGET: Follow Business Insider's Life on Facebook!

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    warren buffettWarren Buffett could never stand school. 

    He was a pain to teachers in grade school, and just as bad in high school. 

    As a teen, he was already a hustling businessman, raking in $53,000 by age 16. So while he didn't see the need to go to college and study business, he dutifully attended the University of Pennsylvania when his parents told him to. 

    But in the spring of 1950, when he was just a few credits away from graduating, he found something to love about formal education. 

    Its name was Harvard Business Schoolminter of tycoons, US presidents, and oligarchs.

    By this time, Buffett already knew what he wanted to do with his life: become ridiculously wealthy, ridiculously quick. He wanted to be a millionaire by age 35, with all the security and freedom that comes with that kind of dough.

    Alice Schroeder writes in her biography, "Snowball," that HBS offered Buffett things he couldn't get by teaching himself: connections and prestige.

    So he took the train from Omaha to Chicago, where he'd have his Harvard interview.

    It felt like a sure thing — Buffett had already told a friend, "Join me at Harvard."

    But the certainty was, in Schroeder's account, misplaced. She writes:

    Warren was relying on his knowledge of stocks to make a good impression in the interview. So far his epicureans had been that whenever he started talking about stocks, people could not help but listen. His relatives, his teachers, his fellow students — all wanted to hear him discourse on this subject. 

    But he had misunderstood Harvard's mission, which was to turn out leaders.

    Buffett, a 19-year-old whiz kid obsessed with a single subject, was not ready to be one.

    "I looked about 16 and and emotionally was about nine," Buffett recalled. "I spent 10 minutes with the Harvard alumnus who was doing the interview, and he assessed my capabilities and turned me down." 

    Yet this might have been the most helpful spurning in business-school history. Schroeder says that Buffett would "later come to consider his rejection by Harvard as the pivotal episode of his life." 

    Barred from Cambridge, he was forced to look elsewhere. 

    Leafing through the catalog for Columbia University, his eyes fell upon a life-changing name: Benjamin Graham.

    "I had just read Graham's book," Buffett recalled.

    That book was the "The Intelligent Investor," a guide to stocks analysis. Buffett would later say that finding that book at age 19 was one of the luckiest moments of his life, since it gave him the framework for his investing. 

    All of a sudden, Buffett could go meet the teacher whose insights had already changed his life. If he went to Columbia, he could surely convince Graham to become his mentor.

    "It was like [Warren] had found a god," said his housemate at the time. 

    So he applied to Columbia. 

    Thankfully for Buffett, it was a written application, allowing him to tailor the way he presented himself.

    Even better, Columbia wasn't trying to create mature leaders of society; Graham and his colleagues taught the craft of investing. And Buffett was a young craftsman of exceptional ability. 

    He got in. 

    Now he's worth an estimated $74 billion, making him the second-richest man in America.

     

    NOW WATCH: Jeff Bezos Explains Why Failure Is A Great Thing

     

    SEE ALSO: 9 Books Billionaire Warren Buffett Thinks Everyone Should Read

    Join the conversation about this story »


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    buffett

    Back in 1951, a 20-year-old Warren Buffett was well on his way to fulfilling his goal of becoming a millionaire by age 35.

    He had made $53,000 by age 16He had gone to elite schools. He already had a knack for making money on stocks. 

    But a monster would need to be defeated in Buffett's quest for extreme wealth.

    If he were going to fulfill his destiny of becoming the Oracle of Omaha, he would need to give a speech or two. 

    "I was so terrified that I just couldn't" speak in public, he told his biographer Alice Schroeder in "The Snowball: Warren Buffett and the Business of Life."

    "I would throw up," he said. "In fact, I arranged my life so that I never had to get up in front of anybody." 

    Then, after moving back to Omaha after grad school, he saw an ad in the paper for a Dale Carnegie speaking course. Buffett trusted Carnegie, whose book "How To Win Friends and Influence People" changed his life.

    "I knew I was going to have to speak in public sometimes," Buffett recalled. "The agony was such that just to get rid of the pain I signed up for the course again." 

    The class met at a hotel in Omaha. There were about 30 students. 

    "We were all just terrified," Buffett said. "We couldn't say our own names. We all stood there and wouldn't talk to each other." 

    They got a book of speeches that was full of examples of talks you might give to keynote an event or if you were trying to win an election. And — gasp — the students had to deliver one of those speeches every week. 

    "The way it works is that you learn to get out of yourself," Buffett said. "I mean, why should you be able to talk alone with somebody five minutes before and then froze in front of a group?" 

    He picked up a few "psychological tricks" to sidestep his fear, and he got lots of experience speaking to a group of people in a low-stakes situation. The students supported one another, and slowly, slowly, slowly, Buffett got comfortable in front of a crowd.

    "Some of it is just practice — just doing it and practicing," Buffett said. "And it worked. That's the most important degree I have."

    Taking a public speaking course worked for us, too. 


    NOW WATCH: Jeff Bezos Explains Why Failure Is A Great Thing

     

     

    SEE ALSO: 6 Hustles Warren Buffett Used To Make $53,000 By Age 16

    Join the conversation about this story »


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    ODA   The Penthouse 23

    This ultra-luxurious penthouse in Manhattan is the home of an extremely private billionaire.

    So private, in fact, we can't even tell you his name.

    But we can show you inside the 18,000-square-foot apartment, located a whopping 90 stories in the air with 360 degree views of New York City. It was recently redesigned by ODA Architecture, and the pictures are incredible.

    The luxurious penthouse contains nearly every amenity you can think of, including a sculpture garden with a 30-foot water wall and reflection pool, a game room, a day spa, and a recording studio, according to ODA.

    The penthouse's extensive renovations reportedly took ODA four years to complete.

    Jill Comoletti contributed to an earlier version of this post.

    Welcome to the elegant ODA penthouse, located in Manhattan's Midtown East neighborhood.



    The lobby really sets the tone for the rest of the apartment.



    The high ceilings in the living room make the area feel extra spacious.



    See the rest of the story at Business Insider

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    vinod khosla

    One week after San Mateo County Court Judge Barbara Mallach issued an order for billionaire Vinod Khosla to open access to Martin's Beach, a gate leading down to the shore remains closed. 

    The Surfrider Foundation first filed suit against Khosla in March 2013, claiming that the billionaire was in violation of the California Coastal Act when he failed to obtain a permit before locking a gate leading down to the beach and posting signs forbidding entry. 

    Khosla, a prominent venture capitalist and cofounder of Sun Microsystems, purchased a 53-acre parcel adjacent to the northern California beach for $37.5 million in 2008.

    Judge Mallach ruled against Khosla in September, saying that he changed the nature of public access at the beach without obtaining the necessary permits from the California Coastal Commission.

    Last week, the judge issued a final order stating that Khosla must immediately restore public access to the beach as it was when he first purchased the property.

    According to testimony at this summer's trial, the family that previously owned the property kept the parking lot open every day of the year, unless there was inclement weather or a private event was taking place. The family charged $2 to park at the beach, which also once had a restaurant and convenience store that catered to visitors.

    martin's beachStill, one week after Judge Mallach's final order, the gate outside Martin's Beach hasn't been opened, and none of the forbidding signs has been taken down. 

    "Judge Mallach very clearly said Friday that this gate needs to be open. Saturday through Wednesday — that gate has been closed every day," Eric Buescher, a lawyer representing Surfrider in the case, said to Business Insider. California was hit by a powerful storm that left thousands without power Thursday. "Yesterday and today, given the storm, that I understand."

    martin's beach

    Khosla and his legal team appealed Judge Mallach's initial ruling, saying that as long as they don't arrest anyone who walks around the gate, it's not a violation of the California Coastal Act. Mallach rejected this claim because the gate had been left open under previous owners. 

    "In the history of Martin's Beach, as described by visitors who have come here for years and as described by guidebooks, it's always been a place you could go even if you were elderly, or handicapped, or not very mobile. That's not really the case if the gate is closed," Buescher said. "It also deters people who might not know it's their right to go there even though there's a gate. It's not fair to the public." 

    If Khosla doesn't open the gate within the next few days, one of two things could happen. In a letter sent to Khosla's property manager on Monday, the California Coastal Commission said that if the gate is not opened within two weeks, it can exercise its right to issue fines. If he applies for a permit, Khosla could negotiate terms with the commission. 

    "Issues such as the maintenance of parking at Martins Beach, the upkeep of public restrooms and other facilities, or liability issues are exactly the issues that can be addressed by working with the Commission on a long-term solution, in consultation with other applicable agencies and public access groups," commission enforcement analyst Peter Allen wrote in the letter. "We remain ready and willing to craft such terms for a solution to resolve your Coastal Act violations, and restore public access to Martins Beach similar to the form in which it has historically existed." 

    The Surfrider legal team could also go back to Judge Mallach, point out that the gate is still locked, and see what action she thinks is appropriate.


    NOW WATCH: 14 Things You Didn't Know About Whole Foods

     

    SEE ALSO: Judge Orders Silicon Valley Billionaire Vinod Khosla To Immediately Open Beach He Had Blocked

    Join the conversation about this story »


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    Pinterest is the new Craigslist. That's what Kevin Ryan, a serial entrepreneur believes.

    Ryan co-founded multiple startups, including Gilt Groupe, wedding site Zola, MongoDB and Business Insider.

    He's eying new companies to start and turning to Pinterest for ideas. Ryan's statement that Pinterest is the new Craigslist comes from a chart that was made four years ago by by Spark Capital investor Andrew Parker.

    The chart is a screengrab of Craigslist's homepage and it includes valuable startups that attack specific functionalities within Craigslist. For example, job site Indeed was acquired for about $1 billion and it is competitive with Craigslist's Jobs section. Etsy is a $1 billion-plus company that competes with Craigslist's For Sale category.

    "Some of [the startups] have IPO’d," Parker says. "Others are out of business. If you could have made investments in all of these companies back in 2010, you’d have a portfolio of 34 companies with roughly 6-8 billion dollar outcomes, which would likely be one of the best venture funds of the decade."

    Here's the Craigslist chart:

    Disaggregation of Craigslist

    And here's some opportunities Pinterest is presenting. Mobile, photo-heavy companies in the following categories could soon explode, particularly if they're tied to e-commerce.

    • Weddings (Companies in the space: Zola, Loverly, The Knot)
    • Travel (popular category on Instagram)
    • Animals (Buzzfeed, Barkbox, Petflow, Dodo)
    • Cooking/Recipes
    • DIY (Brit+Co)
    • Home and Office Decor (Houzz, Wish, Fab)
    • Photography (Instagram)
    • Beauty (Birchbox)
    • Fitness/Health
    • Fashion (NastyGal, BaubleBar, Chloe+Isabel, Gilt Groupe)

    Hurry up and grab them, they might just become billion-dollar ideas.

    pinterest

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    larry ellisonSome of the world's wealthiest people started out dirt poor.

    Here are 16 rags-to-riches stories that remind us through determination, grit, and a bit of luck anyone can overcome their circumstances and achieve extraordinary success. 

    This is an update of a story originally written by Vivian Giang.

    Kenny Troutt, the founder of Excel Communications, paid his way through college by selling life insurance.

    Net worth: $1.5 billion 

    Troutt grew up with a bartender dad and paid for his own tuition at Southern Illinois University by selling life insurance. He made most of his money from phone company Excel Communications, which he founded in 1988 and took public in 1996. Two years later, Troutt merged his company with Teleglobe in a $3.5 billion deal.

    He's now retired and invests heavily in racehorses.



    Starbucks' Howard Schultz grew up in a housing complex for the poor.

    Net worth: $2.3 billion 

    In an interview with British tabloid Mirror, Schultz says: "Growing up I always felt like I was living on the other side of the tracks. I knew the people on the other side had more resources, more money, happier families. And for some reason, I don't know why or how, I wanted to climb over that fence and achieve something beyond what people were saying was possible. I may have a suit and tie on now but I know where I'm from and I know what it's like."

    Schultz ended up winning a football scholarship to the University of Northern Michigan and went to work for Xerox after graduation. Shortly after, he took over a coffee shop called Starbucks, which at the time had only 60 shops. Schultz became the company's CEO in 1987 and grew the coffee chain to more than 16,000 outlets worldwide.



    Investor Ken Langone's parents worked as a plumber and cafeteria worker.

    Net worth: $2.6 billion 

    To help pay for Langone's school at Bucknell University, he worked odd jobs and his parents mortgaged their home.

    In 1968, Langone worked with Ross Perot to take Electronic Data Systems public. (It was later acquired by HP.) Just two years later, he partnered with Bernard Marcus to start Home Depot, which also went public in 1981.



    See the rest of the story at Business Insider

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    jack ma alibaba

    Alibaba founder and Executive Chairman Jack Ma was the biggest financial winner of 2014, according to a new report from research firm Wealth-X.

    Ma's net worth rose by $18.5 billion this year, eventually reaching $29.2 billion in December.  It was an increase of 173%, the biggest wealth increase of anyone in the world. 

    Ma's good fortune was helped by Alibaba's September initial public offering, the biggest public debut in the history of the New York Stock Exchange. He became the richest person in China after the stock continued to perform well in the following months. 

    Warren Buffett came in second on the Wealth-X list, adding $13.5 billion to his fortune in 2014.

    Bill Gates was third, making $10.5 billion and increasing his total net worth to $83.1 billion this year. It was a year-to-year increase of 10.5%. 

    Facebook CEO Mark Zuckerberg earned the fourth spot on the list, increasing his net worth by $8.4 billion to reach $33.1 billion at the end of the year. It was a gain of 8.4% over his December 2013 net worth of $24.7 billion.

    Swiss telecom billionaire Patrick Drahi rounded out the top five, with an increase of $5.1 billion.

     

    NOW WATCH: Dirty Jobs' Host Mike Rowe Got A Great Career Advice About Passion From A Pig Farmer

     

    SEE ALSO: Alibaba Founder Jack Ma Nearly Doubled His Wealth This Year — Here's His Inspiring Life Story

    Join the conversation about this story »


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    alibaba jack ma

    Fresh off the biggest IPO in history, Alibaba founder and chairman Jack Ma is now the richest person in China.

    Ma made more money that anyone else in the world this year. His wealth grew by $18.5 billion between December 2013 and December 2014, a whopping 173% increase.

    He's now worth an estimated $29.2 billion, which includes his 7.8% stake in Alibaba and a nearly 50% stake in payment processing service Alipay. 

    Ma's is a true rags-to-riches story. He grew up poor in communist China, failed his college entrance exam twice, and was rejected from dozens of jobs, including one at KFC, before finding success with his third internet company, Alibaba. 

    Jack Ma (a.k.a. Ma Yun) was born on October 15, 1964, in Hangzhou, located in the southeastern part of China. He has an older brother and a younger sister. He and his siblings grew up at a time when communist China was increasingly isolated from the West, and his family didn't have much money when they were young.

     Source: 60 Minutes, USA Today

     



    Ma was scrawny and often got into fights with classmates. "I was never afraid of opponents who were bigger than I," he recalls in "Alibaba," a book by Liu Shiying and Martha Avery. Still, Ma had hobbies just like any other kid. He liked collecting crickets and making them fight, and was able to distinguish the size and type of cricket just by the sound it made.

    Source: USA Today, Business Insider



    After then-US president Richard Nixon visited Hangzhou in 1972, Ma's hometown became a tourist mecca. As a teenager, Ma started waking up early to visit the city's main hotel, offering visitors tours of the city in exchange for English lessons. The nickname "Jack" was given to him by a tourist he befriended.

    Source: 60 Minutes

     



    See the rest of the story at Business Insider

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    Jeff Bezos Sad Wealth-X just announced its list of the biggest losers this year, proving that even the wealthiest hit rough patches. 

    Russian gas mogul Leonid Mikhelson lost the most, with over 40% of his fortune slipping away between Russia’s struggling economy and weak oil prices. 

    Here are the billionaires who lost the most in 2014:

    1. Leonid Mikhelson lost $7 billion.

    Mikhelson, CEO of Russian gas company Novatek, lost nearly 41% of his $17 billion fortune this year, leaving his current wealth at around $10 billion. His losses stem from a number of factors, including the decline of Russian currency, weak oil prices, and economic sanctions placed on Russia by Western nations in light of the Russia-Ukraine conflict. 

    2. Masayoshi Son lost $5.9 billion.

    Though he remains the richest man in Japan, the CEO of SoftBank, Asia’s top Internet and telecommunications corporation, lost nearly $6 billion this year. Losses from Sprint, which SoftBank purchased last year, dragged down the company’s overall earnings this year.

    3. Lui Chee Woo lost $5.5 billion.

    Chinese casinos struggled overall this year, and Galaxy Entertainment Group, which Woo owns, saw a 20% drop in revenue. Despite earning a strong $8.3 billion in 2013 as gambling surged last year, Woo ended this year with a $5.5 billion loss instead. 

    4. Jeff Bezos lost $5.5 billion.

    As Amazon shares shares continue to drop — down 28% in 2014— Amazon is predicted to lose an estimated $40.5 million this year, according to Bloomberg. Bezos’s personal wealth took a $5.5 billion hit as well, but the founder remains confident in Amazon’s recovery

    5. Sheldon Adelson lost $5.2 billion.

    It was a tough year for casino mogul Adelson, who is the CEO of the Las Vegas Sands Corporation. In addition to his personal monetary losses, hackers effectively shut down a major Las Vegas casino of Adelson’s in February, stealing customers’ Social Security Numbers and clearing hard drives.

    SEE ALSO: Here Are The Schools With The Most Billionaire Graduates

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    vinod khosla court

    On December 1, San Mateo County Court Judge Barbara Mallach issued a final order requiring Silicon Valley billionaire Vinod Khosla to immediately restore public access to Martin's Beach.

    Still, the gate hasn't been opened, and now Khosla's lawyers are challenging the ruling.

    Khosla owns a 53-acre parcel adjacent to the beach, which he purchased for $37.5 million in 2008. A few months after Khosla made the purchase, a gate leading from the Pacific Coast Highway down to the parking lot was locked, and signs forbidding entry were posted.

    The Surfrider Foundation filed suit against Khosla in March of 2013. In September, Mallach ruled in favor of Surfrider, saying that Khosla was in violation of the California Coastal Act when he neglected to obtain a permit before posting signage and locking the gate. 

    On Tuesday, Khosla's limited liability companies, Martins Beach 1 and Martins Beach 2, filed a motion to throw out Mallach's order to reopen access to the beach. Khosla is seeking a new trial, claiming "irregularity in the proceedings of the Court,""improper orders of the Court,""abuse of discretion by the Court," among other complaints. 

    The filing also claims there is newly discovered evidence as well as an "accident or surprise, which ordinary prudence could not have been guarded against." 

    Khosla's lawyers will have until December 26 to file a brief and provide evidence that supports their request for a new trial. 

    "We look forward to continuing to fight for Surfrider and the people of California to protect everyone’s right to access the coast," said Eric Buescher, an attorney at Cotchett, Pitre, & McCarthy, who represents Surfrider in the lawsuit.

    SEE ALSO: Silicon Valley Billionaire Is Ignoring A Judge's Order To Open The Beach He Blocked

    Join the conversation about this story »


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    michael dell hawaii

    Everyone needs to take a vacation every once in a while, especially during the holidays.

    But vacation means something a little different when you're a millionaire or billionaire.

    From massive island retreats to private superyachts, these tech executives' second homes take luxury vacations to the next level. 

    Facebook billionaire Mark Zuckerberg recently bought a 750-acre property on the North Shore of Kauai. He paid a reported $100 million for the property, which includes a white-sand beach and former sugarcane plantation.

    Source: Forbes



    When Microsoft billionaire Paul Allen isn't cruising the high seas on one of his superyachts, he can relax at one of his many luxurious retreats. In addition to an island in Washington and a beachfront Hawaiian estate, Allen owns a hilltop mansion on the Côte d'Azur called the Villa Maryland. He employs a staff of 12 and counts Bono and Andrew Lloyd Webber as neighbors.

    Source: Curbed



    Salesforce CEO Marc Benioff loves all things Hawaii. He wears Hawaiian shirts to work and even named his dog "Koa," after a type of Hawaiian tree. He also owns a 5-acre estate on the Big Island, which he purchased for $12.5 million in 2000.

    Source: Wall Street Journal, Honolulu Magazine



    See the rest of the story at Business Insider

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    Tesla Motors Inc CEO Elon Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California October 9, 2014.

    With 2015 right around the corner, that means new goals, new challenges, new opportunities and new milestones await.

    Here are 10 great quotes from successful entrepreneurs to inspire you to come out swinging in 2015, whether that involves growing a current business or starting a new venture.

     1. "I like thinking big. If you're going to be thinking anything, you might as well think big."—Donald Trump

    No successful entrepreneur starts something with the goal of being mildly successful, especially not Donald Trump. If you truly believe that you have an amazing idea or think you can expand your business, then go for it. The "go big or go home" mentality has worked very well for many — will you be next?

    2. "Move fast and break things. Unless you are breaking stuff, you are not moving fast enough." —Mark Zukerberg

    Sometimes, windows of opportunity don't remain open for too long. If you have an idea or see an opportunity, strike and move fast. It is impossible to tiptoe along and avoid all mistakes or pitfalls. Those that wait, or move slow due to being over-cautious will sometimes miss out.

    Facebook was struggling with monetization when the majority of its user base became mobile, but its team moved fast and now the company is beating Wall Street's expectations.

    3. "When you're first thinking through an idea, it's important not to get bogged down in complexity. Thinking simply and clearly is hard to do." —Richard Branson

    Look how most successful startups get off the ground. The companies set specific milestones that must be met in order for the concept to advance to the next stage. The longer it takes to hit each milestone, the greater the odds of the startup failing.

    Don't make things harder than they need to be in the beginning.richard branson

    4. "Going from PayPal, I thought: 'Well, what are some of the other problems that are likely to most affect the future of humanity?' Not from the perspective, 'What's the best way to make money?'" —Elon Musk

    When your product or service impacts people and changes the way we do things, it can be extremely rewarding. The best ideas always come from truly passionate individuals that started their company because they wanted to solve a problem. Musk recently decided to allow other companies to use Tesla Motors' patents — because he feels it will benefit the world, not his net worth.

    5. "To get GoPro started, I moved back in with my parents and went to work seven days a week, 20 hours a day. I wrote off my personal life to make headway on it." —Nick Woodman

    You have to be willing to make sacrifices, and in Woodman's case those sacrifices paid off big on June 26 of this year when his company went public — he even got to ring the opening bell at the NASDAQ stock market.

    6. "You always hear the phrase, 'money doesn't buy you happiness.' But I always in the back of my mind figured a lot of money will buy you a little bit of happiness. But it's not really true." —Sergey Brin

    If you were a diehard baseball fan and you were presented with the following two options, which one would you pick?

    • Start a Major League Baseball blog that allowed you to travel around the country and watch baseball games all day. Business revenue potential: $350,000 a year.
    • Open a sewage treatment plant that required you to literally work with crap all day. Business revenue potential: $850,000 a year.

    I would hope the first one would appeal to you much more. There is nothing more rewarding than doing something you absolutely love. 

    7. "Don't start a company unless it's an obsession and something you love. If you have an exit strategy, it's not an obsession." —Mark Cuban

    You have to love what you do and become completely obsessive with every aspect of your business. If not, you will get burnt out quickly, leading to failure. Nobody is going to care about your company more than you, so be prepared to set the bar high and work harder and longer than anyone else. The only way you will remain sane is by enjoying every minute of it.

    Mark Cuban

     8. "If you're competitor focused, you have to wait until there is a competitor doing something. Being customer focused allows you to be more pioneering."—Jeff Bezos

    Keeping your sights set on your competition will actually slow your growth. Constantly watching them takes your focus away from the one thing that is responsible for your success — your customer. Put all of your energy into creating happy customers and you won't have to worry about the competition because they will be behind you. 

    9. "Don't be threatened by people smarter than you." —Howard Schultz

    I love speaking with people that are smarter than I am. Anyone who truly believes that they are the know-all authority within their industry is delusional. Every entrepreneur has strengths, weaknesses and room to grow. Embrace every opportunity to speak with fellow entrepreneurs that are smarter, more established and more successful. That is priceless education.

    10. "Quality is more important than quantity. One home run is much better than two doubles." —Steve Jobs

    This couldn't be any more accurate. My online marketing company works with established companies as well as startups. At first, they all want the same thing: more website traffic. Well, more traffic doesn't necessarily mean more sales and revenue. Focusing on quality traffic over quantity always produces better results. Less is often more.

    SEE ALSO: 20 Of The Biggest Names In Tech Explain How They Achieve Success

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    Dyson

    Sir James Dyson, the billionaire inventor behind the famous bagless vacuum cleaner, now owns more land than the Queen after buying another 3,000 acres. 

    The Sunday Times reports Dyson, 67, has just purchased the 3,000-acre Cranwell and Roxholme estate in Lincolnshire. It takes his total portfolio up to 25,000 acres — 5,000 more than Her Majesty's private Sandringham estate in Norfolk. Much of the Queen's assets aren't owned outright. The businessman bought his latest grounds from the Crown Estate (nothing to do with the Queen, in case you're wondering).

    The acquisition means Dyson, who is worth about £3 billion, now has one of the biggest private landholdings in Britain — surpassing countless aristocrats and nobles who inherited vast piles from ancestors. Dyson boasts other acreages like Dodington Park in Gloucestershire and the Nocton and Carrington estates — both in Lincolnshire. He also has a townhouse in Chelsea, London, a property in the south of France, and a home in Norfolk. 

    The inventor easily tops the likes of the Duke of Bedford, who owns a 13,000-acre pile in Bedfordshire; passes by far the Duke of Marlborough's Oxfordshire domain at Blenheim, which is about 11,000 acres; and enjoys more than three times that of the Duke of Wellington, who has a comparatively meager 7,000 acres in Hampshire.

    Indeed, the aristocracy still collectively own swathes of the country. But most owned acreage belongs to the government's Forestry Commission (more than 2.5 million acres), the Ministry of Defence (592,000 acres), and organisations such as the National Trust (630,000 acres). The Crown Estate, with 358,000 acres, is a huge player too. 

    Dyson told The Sunday Times that he felt at home in the countryside. He grew up in rural north Norfolk and, although his fortune lies in engineering and technology, is becoming more involved in agriculture. 

    "I'm enjoying farming in Lincolnshire, which is similar to Norfolk," he tells the paper. 

    Dyson runs The James Dyson Foundation, which supports and nurtures innovation in design and engineering. He also invests significantly in future farming techniques to help make the industry more efficient; his latest Lincolnshire purchase appears to be with that in mind. 

    James Dyson Map


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    Evan Spiegel Snapchat CEO

    This year, boy-wonder billionaire and Facebook co-founder Mark Zuckerberg, 30, maintained his top spot on the list of the richest individuals under the age of 35.

    His net worth is estimated at $34 billion, landing at No. 11 on the Forbes list of richest billionaires in America and the 14th richest in the world.

    But who else made the cut at an age when many of us are still drowning in student debt?

    Bankrate took a look at published reports and compiled a list of nine, other than "Zuck," who are younger than 35 and at billionaire status. While some inherited their fortunes, most continue to work hard for their money in various fields.

    Here are the top nine in order of wealth.

    1. Evan Spiegel

    Age: 24

    Worth: Around $1.5 billion

    How he made his billions: The CEO and co-founder of Snapchat, a photo-messaging app, turned down a $3 billion cash offer from Facebook in 2013 and now runs a company worth an estimated $10 billion.

    2. Bobby Murphy

    Age: 25

    Worth: Around $1.5 billion

    How he made his billions: This co-founder of photo-messaging app Snapchat — along with fellow billionaire youngster Evan Spiegel — is the company's chief technology officer.

    Prince Albert von Thurn und Taxis

    3. Albert von Thurn und Taxis

    Age: 31

    Worth: Around $1.5 billion

    How he made his billions: A German prince, he inherited his billions on his 18th birthday in 2001. His diversified assets include art, timber and real estate. He remains a bachelor and spends his time racing cars for a German league.

    4. Marie Besnier-Beauvalot

    Age: 33

    Worth: Around $2.7 billion

    How she made her billions: She and her siblings inherited a French dairy company founded by her grandfather. The siblings now own 100% of the company and run it together.

    5. Elizabeth Holmes

    Age: 30

    Worth: Around $4.5 billion

    How she made her billions: The richest self-made female billionaire and a newcomer to the Forbes list, Holmes founded a blood-testing company, Theranos, in 2003.

    eduardo saverin

    6. Eduardo Saverin

    Age: 32

    Worth: Around $4.9 billion

    How he made his billions: Coming from a wealthy family, Saverin sued Zuckerberg after co-founding the social site and not being given credit for it. He settled out of court. He still is a part owner of Facebook and also is an angel investor for other companies.

    7. Yang Huiyan

    Age: 33 

    Worth: Around $4.9 billion

    How she made her billions: Yang Huiyan's father, Yeung Kwok Keung, created the high-end Chinese real estate development company Country Garden Group. Prior to the company's Hong Kong IPO in 2007, Keung transferred his shares to his daughter. She is in charge of the company's development strategies.

    8. Scott Duncan

    Age: 32

    Worth: Around $6.2 billion

    How he made his billions: Duncan inherited his money from his father, Dan Duncan, who started energy pipeline company Enterprise Products. One of four children, Scott Duncan's fortune grew by $1 billion last year after company stock rose.

    9. Dustin Moskovitz

    Age: 30

    Worth: Around $8.1 billion

    How he made his billions: Another youngin' gilded by Facebook's popularity, Moskovitz worked on the site in its early stages with Zuckerberg.

    SEE ALSO: 6 Simple Steps To Help You Get Rich

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    Want to rub shoulders with a billionaire? Your best bet is to attend one of the cultural, sporting, or business events where the super-rich flock each year.

    Wealth-X and UBS included a "billionaires' social calendar" in their recent Billionaire Census. We added a bit more information and created a handy version that you can print and hang on your refrigerator.

    Grab your derby hat, ball gown, and checkbook, and mark down these dates.

    BI_graphics_billionairesCalendar (1)

    SEE ALSO: The World's Most Expensive Yachts (And The Billionaires Who Own Them)

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    John Paul DeJoria, the man behind brands such as Paul Mitchell, Patrón, and Rok Mobile, is certainly successful by any measure. But his billionaire status didn't come easy. DeJoria describes his "rags-to-riches" story and explains why he thinks the dream is still alive.

    Produced by Justin Gmoser. Additional Camera by Graham Flanagan. 

    Follow BI Video:On Twitter 

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    "Venus," a 256-foot yacht designed for the late Steve Jobs, was spotted in the British Virgin Islands over the weekend.

    New photos snapped by the Cape Cod-based Woods Hole Inn and first reported by Gizmodo give a close look at the boat, plus a quick glimpse of its interior.

    Though the yacht has been photographed in the wild before, these shots are the best we've seen.

     on

     

    Jobs reportedly approached French designer Philippe Starck for help bringing his dream yacht to life. Jobs had spent several summer vacations sailing on friend Larry Ellison's yacht, and he wanted one for himself.

    Work on "Venus" wasn't complete until 2012, a year after Jobs' death.

    The final product is made of aluminum and steel, with simple, sleek lines reminiscent of an Apple product. 

     on

    According to a Vanity Fair interview with Starck, the yacht has six bedrooms and a complex home-automation system. 

    "Steve wanted to be sure that the teenagers could be set up in the front of the boat when he was at the back and vice-versa. He was obsessed with silence,"Starck said. "In his home, children did not make noise, nor the dog, nor his wife … no one made any noise, ever."

    "Venus" is currently owned by Jobs' widow, Laurene Powell Jobs.

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    SEE ALSO: Google's Larry Page Is Being Sued By A Painter Who Was Injured While Working On His Yacht

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    Elon Musk

    Elon Musk has gone through a lot of hell.

    When he was serving as CEO of PayPal, he was victim of a coup — getting fired while he was on vacation. 

    He founded a space exploration company when everybody thought the idea was nuts. 

    He invested his personal fortune in Tesla Motors when the company was perilously close to crashing, and then turned it around.

    So when a Reddit user asked during his Monday Ask Me Anything how he's been so resilient, Musk had the perfect response — care of one of the most dogged world leaders in history. 

    Here's the question from user catsx3

    Hi Elon, I currently work for Toyota Tsusho in Fremont doing the wheel assembly for Tesla. I want to let you know how proud I am to be however minutely linked to such a powerful and positively influential company such as yours. Keep doing the good work, sir. You are an inspiration to not only myself but countless others around the world.

    My question: You seem to have had to deal with a tremendous amount of adversity in a few of your ventures. Do you have any advice for those dealing with seemingly insurmountable adversity?

    And Musk's response

    There is a great quote by Churchill: "If you're going through hell, keep going."

    To refresh your memory, British Prime Minister Winston Churchill led the UK through World War II. He was a master orator; his "Finest Hour" speech given during the rise of Nazi Germany was arguably the single best piece of political rhetoric of the 20th century. 

    However, there's a fair chance that Churchill never said the quote Musk attributed to him. The Quote Investigator blog references a Winston Churchill publication that in 2009 declared that the "going through hell" quote is "not by Churchill, or at least not verifiable in any of the 50 million published words by and about him." The blog argues that the line can be best traced back to a 1990 newspaper profile of a self-help author. 

    Regardless of the line's origin, the sentiment stands: If you're going through startup hell, keep going.

    SEE ALSO: What It's Like Inside Elon Musk's 'Reality Distortion Field'

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