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How to Become a Billionaire
By kumcheong
Have you ever wondered how world's richest 10 persons earn their billions? And they achieved this while the rest of us struggle with our monthly paychecks?
Their secret to success is plain to see: all of them amass their massive fortunes through creating many income sources. That is, they all had successful multiple streams of income.
Here's proof on how they did it. Below is a list of the world's Top 10 richest people in 2007 and their income sources.
1) Warren Buffett (US; Net worth: US$62b): Stocks and shares investments, acquiring out-of-luck companies, re-structuring them and re-selling at much higher prices. His financial vehicle Berkshire Hathaway holds controlling stakes in big companies such as Coca-Cola, Kraft Foods, Johnson and Johnson, Wrigley and so on.
2) Carlos Slim Helu (Mexico; Net worth: US$60b): Major investments in Mexican equities market, telecommunication networks, electronics.
3) Bill Gates (US; Net worth: US$58b): Operating software, computer hardware, portable entertainment systems, acquiring competitors.
4) Lakshmi Mittal (India; Net worth: US$45b): Heavy industries, manufacturing, controls the world's largest steel-maker Arcelor Mittal.
5) Mukesh Ambani (India; Net worth: US$43b): Heavy industries, petrochemicals.
6) Anil Ambani (India; Net worth: US$42b): Heavy industries, petrochemicals, telecommunications, power supply.
7) Ingvar Kamprad (Sweden; Net worth: US$31b): retailing, restaurants, furniture and household appliances.
8) K. P. Singh (India; Net worth: US$30b): real estate, land investments.
9) Oleg Deripaska (Russia; Net worth: US$28b): aluminum trading, coal production and energy deals.
10) Karl Albrecht (Germany; Net worth: US$27b): retailing, grocery and discount supermarket business.
Of course, success leaves clues and can be replicated by anyone determined enough. However, chances are none of us are in the midst of buying a steel mill or launching a satellite telecommunication system next month.
So let's get back to reality. The good news is everyone, including you, is absolutely capable of making his first million bucks. And just like them, from multiple streams of income, of course. See what I meant by 'success leaving clues'?
In fact, earning passive income from multiple streams can be pretty easy once you learn the tricks, practice hard and get the hang of it. Start humble like them and perhaps one day you'll make it to the top 10 list of the world's super-rich. Best of luck!