How did he get rich

get rich

Some people are born rich and have enough wealth to fulfill all their desires in life, while others strive hard to obtain life's minimum requirements. But most people wish to have a lot of money, so they seek in many ways to acquire wealth, so they work hard, create a project of their own, or develop ideas and plans to achieve their goal. A wealthy person is defined as a person who has enough possessions to spend and consume without worry, thus obtaining a life of comfort, luxury and enjoyment.

How to acquire wealth

A person may obtain money from his family’s heirs, without any effort or trouble on his part, and others may need to think and create small, very profitable and inexpensive projects, and follow advice to own them. Wealth is not limited to a specific group that can achieve it, because it only requires determination, perseverance, and challenge. Before starting to work hard to become rich, an individual must realize that working on the psychological aspect and creating positivity are among the most important elements for achieving wealth. Below is an explanation of how to acquire wealth:

Self-improvement

Achieving wealth requires psychological preparation for the journey of obtaining it, as the individual may be exposed to many obstacles in the beginning. If he has not improved and fortified himself before starting it, he may retreat and lose his opportunity to become wealthy. Self-improvement can be done by following a set of tips:

• Self-belief: One of the most important secrets to obtaining wealth is for a person to believe in himself, because by doing so he will create opportunities until he reaches his goal. However, if he lacks confidence, he will always doubt success and have a lot of fear in every step he takes.
• Trust intuition: If a person wants to succeed in something, he must trust his decisions and intuition, not be bound by the opinions and experiences of others, and stand in front of every opportunity to study and analyze them so as not to be lost in the face of confusion.
• Understanding luck: Luck is real, but it is linked to fate. A person should do everything he can and then put what he has created in the hands of fate. He should not imprison himself with the concept of bad luck that restricts him and prevents him from achieving what he wants.
• openness: A person should not limit himself to options that he believes are the most successful because he has not tried others. He must try everything that is available to him, and be more open to options.

Practical steps

When thinking about becoming rich, an individual must follow the principles adopted by people who have achieved wealth in their lives. Below is a set of these principles and tips:

• Financial resources management: Every person has certain sources of income, which come from certain sources. If the person does not manage them well, they will be lost, even if they are many. Therefore, he must manage it well, determining his necessary expenses, and thus his income will be higher than his expenses and not the other way around.
• Make plan: Wherever a person goes, he needs a plan that will lead him to his goal, so a plan must be drawn up that shows the career paths or projects to which he can go.
• Taking risks to make money: Staying in a safety zone due to fear of failure will not help you achieve success. The risk must be thoughtful, subject to discussion with specialists, and include part of the money and time, not all of it. The risk is also determined by certain factors, which are:
  • Age: The younger an individual is, the more capable he is of taking risks.
  • Family obligations: A person who has children has less ability to take risks.
  • Income or wealth: The risk is not higher than the wealth. If he loses, he will lose his wealth and incur debts.
• Saving: It should start from a young age by setting a certain percentage of income to save.
• work hard: Because wealth comes with hard work, not rest. The wealthy had willpower and sacrificed their rest and hours of sleep at the beginning of their quest to achieve their wealth.
• Finding new sources of income: This is done either by developing some of the skills he possesses, so that he can exploit them to bring him new income, or by investing some money in real estate or projects that bring income.
• Getting rid of debt: By making paying off his debts a priority, and not borrowing except when absolutely necessary.
• Contact with successful people: When a person surrounds himself with people who have goals, or people who are successful in their work, he will benefit from their experiences and be encouraged to achieve his goals.

Ideas to become rich

Below are some ideas that may help increase an individual’s financial income:

• Real Estate Investment; Owning residential apartments, agricultural lands, warehouses, shops, offices, etc.
• Investing in entrepreneurial projects and startups, examples of which include:
  • Establishing a consulting institution that provides services for concluding deals between several parties, provided that it receives a percentage of the cost of the deal, or a percentage of the agreed upon profits.
  • Learn how investment portfolios work, speculate, and invest in the stock market and the stock market, while building the knowledge necessary to delve into this investment field.
  • Businesses of various types, but they require capital and a strategic plan to continue supplying or exporting goods and producing them according to supply and demand.
  • Investing in business via the Internet is one of the easiest ways, but it is not without risk, and it is necessary to develop specialized knowledge in a specific field because the fields on the Internet are many and very numerous, as services can be provided remotely, or freelance work can be done, and goods can be sold and marketed.
• Writing, printing and publishing books.
• Investing in famous websites.
• Investing by saving small amounts daily and securing your financial situation from savings in the event of any emergency, or to finance other investments.

Preserving wealth

After an individual achieves wealth, it is important for him to realize how to maintain the wealth he has achieved. In order to ensure the continued existence of financial wealth, the following is a group of reasons related to preserving wealth:

• Avoid get-rich-quick schemes: It is one of the prevailing ideas about rich people who are keen to achieve quick wealth. By participating in a range of activities, such as buying stocks, but many rich people are interested in preserving their financial wealth. By applying a slow and steady approach to investing, rather than taking the risk of implementing get-rich-quick plans, which are described as volatile.
• Interest in saving for retirement: It is one of the necessary things that the rich seek to pay attention to. Saving for retirement is one of the most important priorities for the rich. Because they are interested in maintaining their lifestyle during their wealthy or working years; Therefore, it is important to save money to benefit from it when you retire.
• Pay attention to taxes: It is a direct influence on the rich; They are subject to a higher rate of taxes; Therefore, most of them seek to reduce the impact of taxes on them by using investment portfolios that constitute places for distributing investments and financial assets using various financial accounts, in terms of being affected by the tax.
• Building diverse sources of income: It is one of the important reasons for maintaining wealth. A rich person must realize that he cannot achieve wealth by relying on a fixed salary, as he may lose his job unexpectedly. Therefore, it is important to take appropriate measures to protect oneself from being exposed to this situation. By searching for other sources of income, such as investment businesses.

Actions that keep you away from wealth

Some people take wrong directions to achieve wealth, which may make them believe that they are moving in the right direction to achieve wealth, but their endeavor does not bring any success. Among these wrong behaviors are:

• Focusing on saving and believing that it is the means to achieve wealth. Despite the importance of saving, earning money is more important than saving it for the rich.
• Sticking to work that gives a fixed income may lead to wealth, but it is slow, but freelance and diverse work earns more money and gives broader experiences.
• Living luxuriously and spending on things a person does not need, or buying expensive things with the possibility of replacing them with the same things but at lower prices.
• A person seeks to achieve the dreams of others, and forgets his own dreams and goals, and thus does not practice his work with love, and thus does not achieve success in it.
• Spending on all the necessities and luxuries of life, and thinking about saving with the remaining income, and what is more correct is that a percentage of the money must be saved before spending any of it.

Personalities who went from poverty to riches

In the world of the wealthy, there are many examples of individuals who lived a life of poverty, then worked hard and expanded to become possessors of enormous wealth. These are models that give hope to every person who wants to become wealthy, and confront every person who fails to strive on the grounds that it seems impossible. Among the most famous figures who went from poverty to riches are:

• Oprah Winfrey: Oprah was born into a poor family in Mississippi, but she did not give up her dream of becoming a broadcaster. She obtained an educational scholarship to the University of Tennessee, and at the age of nineteen she became the first African-American television reporter. She later had her own program, and achieved a fortune amounting to $2.8 billion.
• Starbucks founder Howard Schultz: Schultz grew up in a poor area, but he dreamed of becoming like other rich people, so he got a scholarship to the University of Michigan, and after that he started a small coffee shop, which at that time had 60 branches, and he began to develop it until Starbucks became one of the most famous coffee shops, and it has 16 thousand branches around the world. Schultz now has a fortune of $2.8 billion.
• WhatsApp founder Jan Koum: Jan Koum moved to live with his mother, until he was forced to work as a cleaner in a store. Because of his bad condition, he is 16 years old. Jan began learning different computer techniques, and in 2009 he participated in founding WhatsApp. The largest phone messaging service, he sold it for the equivalent of $22 billion, and now he owns approximately $9.1 billion.

The world's richest people

Here are five wealthy people in the world mentioned by Forbes magazine in 2018:

• Jeff Bezos: Jeff Bezos was able to reach this list thanks to the Amazon website that he created (Amazon.com). Jeff Bezos founded the Amazon website in a garage in Seattle, where he initially sold books, but it later became a comprehensive store.
• Bill Gates: Founder of Microsoft, Bill achieved huge profits through this company that made him one of the richest people in the world. Bill also founded the Bill and Melinda Gates Foundation, which contributed to the fight against polio and malaria. He also made donations to fight Ebola.
• Warren Buffett: One of the most famous investors interested in value investing, he was known as (The Oracle of Omaha). Warren bought shares in a textile company (Berkshire Hathaway) and was the first to own shares in it, then he became the owner of the largest stake in it in 1964 AD.
• Bernard Arnault Family: One of the important wealthy people on this list is Bernard, CEO and Chairman of the Board of Directors of LVMH, which is the largest luxury goods company in the world, as this company owns a group of the largest trademarks.
• Mark Zuckerberg Mark Zuckerberg: He is one of the inventors of Facebook and the CEO of Facebook. This company made Mark's name shine as one of the richest people in the world thanks to its large profits. Mark shared his wealth in many charitable works, such as his donations to public schools in the state of New Jersey.