Billionaires seem like they’re a totally different breed of human being. We think, “What could someone with a bajillion dollars in the bank have in common with me?” We imagine that they spend their days on their yachts or buy private islands to build a big swimming pool full of money. Maybe they lounge around in their gigantor penthouses in the rich part of town.
But that’s now right at all. While billionaires are people like us, their habits set them apart, and not the way you’d think. Here are five things billionaires do everyday that you’ll think is weird.
1. They Save Money
Billionaires save their money. When we think about rich people, we usually think about that guy who’s living the life. Big house, big car, crazy expensive clothes. But spending habits like that do not make billionaires. It makes people poor.
It makes sense, doesn’t it? If you want to have a billion dollars, you need to be good at trimming expenses down to what you really need. Mark Zuckerberg, worth about $64.6 billion, doesn’t drive a Rolls Royce, he putters around in an Acura TSX, which costs about $30,000. Warren Buffet famously lives in the same house he bought in 1958. He’s worth $59 billion, but his house is worth an estimated $652,619.
You don’t get rich by throwing your money away. You get rich by saving where you can and slowly becoming successful.
2. They Get Enough Sleep
Arianna Huffington once said, “Our creativity, ingenuity, confidence, leadership, and decision-making can all be enhanced simply by getting enough sleep.” To be a great leader you need to have enough sleep to be a great thinker.
What happens when you don’t get enough sleep?
- You get sick
- Your heart suffers
- Your brain gets fuzzy
- You forget things
- You gain weight
- You become accident prone
You can’t forget the most important one: You get cranky! At least that’s what my wife tells me.
For billionaires to build the businesses that made them billionaires, they need to be clear-headed, strong leaders. You can’t do that when you don’t have enough sleep.
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3. They Keep Learning
Elon Musk says that he considers reading books key to his success. His brother, Errol, once said about him, “Elon has always been an introvert thinker…where a lot of people would go to a great party and have a great time and drink and talk about all sorts of things like rugby or sports, you would find Elon had found the person’s library and was going through their books.”
Yep. You heard that right. Billionaires aren’t out all night spending their money at parties. They don’t while away their days at super fancy restaurants.
Nope. They spend their lives reading. They learn from the best thinkers in the world, and they use their knowledge to do something great. While we’re all playing video games, they’re learning.
4. They Exercise
Exercise is about more than just what you look like in a bathing suit. Billionaires also use it to keep their brains sharp.
You’d think with all the work they do, all the reading, and the huge businesses they run that they wouldn’t have time for exercise.
It’s actually the other way around. They don’t have time to not exercise. Richard Branson considers fitness key to his success. He once wrote, “I’ve always believed that the fitter you are and the more time you find to look after yourself, the more time you’ll have for everyone else.”
5. They Fail A Lot
I’m sure you’re thinking, “Yeah. Right. There’s no way that billionaires fail a lot. You can’t be a billionaire and fail.” That’s where you’re wrong. The road to becoming a billionaire is paved with failure.
Bill Gates, worth $77 billion, started Traf-O-Data before he started Microsoft. They made a product that read traffic tapes. But they couldn’t get the machine to work and no one would buy it.
In 1951, Warren Buffet bought a gas station, but he couldn’t turn a profit. Still, he figured out how to be a millionaire just a decade later.
Early in his career, Michael Bloomberg was fired from his job at Salmon Brothers. When he couldn’t find a job, he started his own company. Now he’s worth billions.
Billionaires fail, because they try new things. Sometimes they try lots of new things before they finally hit the idea that makes them rich. If you want to get rich, you have to be ready to fail. A lot.
Billionaires are different from the rest of us regular folk, but it’s not in the ways you’d expect. Instead of being wild, crazy people, spending their money on anything and everything, billionaires become rich by being disciplined, frugal, and hardworking people. They just keep trying, even after they fail, until they finally succeed.