15 Secrets Only Billionaires Know
Summary
TLDRThis video script from alux.com reveals the strategies and mindsets of billionaires, highlighting that most do not own 100% of their businesses, emphasizing the importance of using other people's money to scale and the significance of private equity. It also touches on the role of art as a store of value, the power of buy low-sell high in various forms, and the importance of decision-making and persuasion skills. The script dispels myths about wealth accumulation through stocks and luck, and it underscores the reality of wealth creation during crises and the advantage of enterprise deals over consumer ones.
Takeaways
- 😀 Wealth concentration: Most billionaires do not own 100% of their businesses, instead, they own a significant but smaller percentage of a much larger, more valuable business.
- 🏘️ Real estate vs. Private Equity: While real estate can make you a millionaire, private equity investments are often the path to billionaire status, as they represent a larger share of a billionaire's net worth.
- 💼 Leveraging other people's money: Billionaires often use other people's money to grow their wealth, starting with small investments and scaling up through various funding rounds.
- 📈 Buy low, sell high strategy: The core principle of wealth accumulation for billionaires is buying low and selling high, applied across various scales and industries.
- 🎨 Art as a store of value: Art is a favored asset class for the ultra-wealthy due to its portability, potential for high returns, and ability to be easily moved or stored.
- 📊 Stocks and luck limitations: Stocks may not be sufficient for reaching billionaire status, and luck can help achieve millionaire status but not necessarily billionaire.
- 🤝 Network and influence: New billionaires often bring others along with them, turning early investors into millionaires through their success.
- 💸 Liquidity misconception: Most of a billionaire's wealth is not liquid; they often use assets as collateral for loans rather than selling their holdings.
- 🌐 Crisis as opportunity: Billionaires view economic crises as opportunities to acquire assets at discounted prices, setting themselves up for future growth.
- 🧐 Expertise and mentorship: Billionaires rely on a network of experts to minimize risk and maximize returns, often employing executive coaches to maintain focus and clarity.
- 💼 Enterprise over consumer: Most of the wealth in business comes from enterprise deals rather than direct-to-consumer sales, emphasizing the importance of B2B relationships.
- 🚀 Starting advantage: Many billionaires had a head start due to their family's wealth, education, and connections, which provided them with the means to take risks.
- 🛠️ Exploitation in supply chains: The wealth of industry tycoons is sometimes built on the exploitation of cheap labor, particularly in the extraction of resources like cobalt.
- 🤑 Obsession with wealth: A common trait among billionaires is an intense focus on wealth and success, often at the expense of other aspects of life.
- 🧠 Decision-making and persuasion: The most valuable skills for high-level success are the abilities to make sound decisions and to persuade others effectively.
Q & A
How much of their businesses do billionaires typically own, and why is this significant?
-Billionaires typically own a smaller percentage of their businesses, often under 50%. For example, Jeff Bezos owns 12.7% of Amazon, and Elon Musk owns 13% of Tesla. This is significant because owning a smaller percentage of a large, multi-billion dollar business is often more lucrative than owning 100% of a smaller business.
What is the difference between how millionaires and billionaires invest in real estate and private equity?
-Millionaires often invest heavily in real estate, with 35-50% of their net worth tied up in it. In contrast, billionaires primarily invest in business interests and private equity, which make up over 70% of their net worth.
Why do billionaires prefer using other people's money to grow their wealth?
-Billionaires use other people's money to leverage and scale their businesses. By raising funds from investors at various stages of growth, they can accelerate their business expansion without using their own money, which increases the company's valuation and their own wealth.
What is the fundamental principle behind the 'Buy Low, Sell High' strategy used by billionaires?
-The 'Buy Low, Sell High' strategy involves purchasing assets or businesses at a low cost and selling them at a higher price. Billionaires optimize their profits by focusing on markup and scale, conducting many transactions with a small margin (like Amazon) or fewer transactions with a high margin (like Tesla).
How do billionaires use art as a store of value?
-Billionaires invest in blue-chip art as a way to store value that can easily be moved. Art is less susceptible to inflation compared to cash and can be used as collateral or leased to museums, providing both appreciation in value and liquidity.
Why won't stocks alone make someone a billionaire?
-Stocks require a large time horizon and substantial initial investment. While they can build significant wealth over time, they lack the rapid scaling potential that other investment vehicles, like private equity or business ownership, provide.
How do new billionaires contribute to creating other millionaires or billionaires?
-New billionaires often bring along early investors who believed in their vision. For instance, Peter Thiel's initial $500,000 investment in Facebook turned into $628 million after its IPO. Similarly, early investments in promising startups can yield substantial returns for investors.
What is the liquidity situation of most billionaires' wealth?
-Most billionaires have less than 5% of their wealth in liquid assets. Instead of selling their assets when they need cash, they use their holdings as collateral for low-interest loans, avoiding the need to sell and incur taxes on their wealth.
Why do billionaires see crises as opportunities?
-Billionaires view crises as opportunities to buy valuable assets at discounted prices. They focus on long-term strategic moves, making a few significant investments per decade that yield substantial returns during economic downturns.
What role do experts play in the success of billionaires?
-Billionaires rely on experts to minimize risks and increase returns. They hire top accounting, legal, and managerial talent to handle various aspects of their business, allowing them to focus on high-level strategic decisions and exponential growth.
Outlines
💰 Wealth Insights from Billionaires
This paragraph introduces the unique perspective billionaires have on life and business, highlighting 15 secrets known only to them. It emphasizes that most billionaires do not own 100% of their businesses, using Jeff Bezos, Elon Musk, Bernard Arnault, Warren Buffett, and Larry Ellison as examples. It also points out that real estate is considered a 'dumb millionaire's game' compared to private equity, which is the primary source of wealth for billionaires. The paragraph concludes with a step-by-step explanation of how billionaires leverage other people's money to scale their businesses and increase their net worth.
🏆 The Billionaire Blueprint: Scaling and Investing
This section delves into the strategies billionaires use to scale their wealth, focusing on the 'buy low, sell high' principle applied across various industries. It mentions that billionaires trade in commodities, shipping, and attention, optimizing their markup and scale to increase transactions. The paragraph also discusses the importance of art as a store of value, the role of Masterworks in democratizing art investment, and the limitations of relying on stocks and luck for wealth accumulation.
🤝 Leveraging Networks and Capitalizing on Crises
The paragraph discusses the importance of using other people's money to grow wealth, as illustrated by the journey of a startup to an IPO. It also highlights how new billionaires can turn millionaires into billionaires by involving them early in their ventures. Furthermore, it points out that less than 5% of a billionaire's wealth is liquid, and they often use their assets as collateral for loans instead of selling them. The paragraph concludes with the idea that crises present opportunities for billionaires to invest and grow their wealth.
🛡️ Minimizing Risk with Expertise and Strategic Moves
This section underscores the role of experts in a billionaire's life, from accounting to legal firms, ensuring that financial risks and liabilities are mitigated. It also discusses the importance of having executive coaches to maintain focus and clarity of thought. The paragraph mentions the ALUX app, which offers access to industry experts at a fraction of the cost, and how it has helped users achieve their goals. It also touches on the significance of enterprise deals over direct-to-consumer sales for generating substantial income.
🚀 Context and Connections: The Path to Billionaire Status
The paragraph explores the backgrounds of many billionaires, noting that they often had advantageous contexts such as rich parents, access to education, and safety nets. It challenges the notion of 'self-made' billionaires and points out that their achievements are built upon a foundation of privilege and opportunity. The section also addresses the controversial aspect of industry tycoons getting wealthy through the exploitation of cheap labor in industries like technology and fashion.
💼 The Drive for Wealth and the Skills of Billionaires
This section delves into the mindset of billionaires, suggesting that they are often sociopathically obsessed with money and success, willing to make significant personal sacrifices to achieve it. It also identifies decision-making and persuasion as the key skills that set billionaires apart, emphasizing the importance of making high-value decisions and the ability to convince others to join and support their mission.
🌐 The Billionaire Investor Portfolio and a Call to Action
The final paragraph presents a visual of the average billionaire investor's portfolio, illustrating how the composition of wealth changes with increasing net worth. It discusses the disparity between the wealth of the top 10% of Americans and the bottom 90%, urging viewers to start investing in assets that appreciate over time. The paragraph ends with a call to action for those interested in escaping mediocrity and a prompt for viewers to subscribe and engage with the content.
Mindmap
Keywords
💡Billionaires
💡Ownership
💡Real Estate
💡Private Equity
💡Other People's Money
💡Buy Low Sell High
💡Art as an Asset
💡Stocks and Luck
💡Crisis
💡Liquid Assets
💡Enterprise Deals
💡Decision Making
💡Persuasion
Highlights
Most billionaires do not own 100% of their business, instead they own a significant but smaller percentage, allowing for growth through external investment.
Real estate can make you a millionaire, but private equity is often the path to becoming a billionaire, as it represents a larger share of their net worth.
Using other people's money to grow a business is a common strategy among billionaires, leveraging external investment to scale rapidly.
The 'Buy Low, Sell High' principle applies to all scales of business, from commodities to attention in media, with the goal of maximizing markup and scale.
Art is a preferred store of value for the ultra-wealthy, offering liquidity and the potential for high returns, especially in inflationary times.
Investment platforms like Masterworks enable everyday people to invest in high-value art, democratizing access to a traditionally exclusive asset class.
Stocks alone are unlikely to yield billionaire status; a combination of strategies and a long-term perspective is necessary for significant wealth accumulation.
New billionaires often create a ripple effect, enriching early investors and demonstrating the power of backing promising ventures.
Billionaires typically maintain a small percentage of liquid assets, opting for low-interest loans against their wealth for liquidity needs.
Crises present opportunities for the wealthy, as they can acquire assets at significant discounts, a strategy that has historically built wealth.
Surrounding oneself with experts in various fields is a common trait among billionaires, who rely on this expertise to mitigate risks and seize opportunities.
Enterprise deals often hold more wealth potential than direct-to-consumer models, as seen in the profitability of Amazon's AWS over its retail arm.
Many billionaires have not started from the bottom, often benefiting from family wealth, education, and a safety net that allowed for risk-taking.
The exploitation of cheap labor, particularly in the production of commodities like cobalt, is an uncomfortable reality behind the wealth of some industry tycoons.
A near-sociopathic obsession with money and success is a trait shared by many billionaires, who are willing to sacrifice nearly everything for their goals.
Mastery of decision-making and persuasion are the key skills for wealth generation, with the ability to convince others and make high-impact choices being paramount.
The billionaire investor portfolio often includes a diverse range of assets, with a significant shift towards trusts and away from traditional retirement funds as net worth increases.
Wealth is created by owning assets that appreciate over time, a lesson that differentiates the wealthy from the majority who focus on earning.
Transcripts
as of 2023 there are 3 112 billionaires
in the world the billionaire perspective
on life is quite different from anything
you've ever experienced and it'll
definitely go against many of the things
you believe here are 15 Secrets only
billionaires know
welcome to alux.com the place where
future billionaires come to get inspired
number one you don't usually get to one
billion dollars and still own 100 of
your business
Jeff Bezos owns 12.7 percent of Amazon
Elon Musk owns 13 of Tesla Bernard Arno
owns 46 of lvmh Warren Buffett owns 16
of Berkshire Hathaway Larry Allison owns
35 of Oracle you get the idea most
millionaires are share protective they
guard their shares like Hawks without
realizing they're actually keeping
themselves from accelerating upwards in
a shorter period of time here's a
wake-up call owning 15 in a
multi-billion dollar pie is a lot more
financially lucrative than owning 100 of
your three million dollar business
number two real estate will make you a
millionaire private Equity makes you a
billionaire
the running joke around the ultra
wealthy is that real estate is the dumb
millionaires game you can become a
millionaire in real estate even if you
don't have the brain power to do
anything else ask any millionaire and
they'll tell you almost half 35 to 50
percent of their net worth is tied up in
real estate ask any billionaire and
you'll quickly realize business
interests private Equity make up for
over 70 percent of their net worth the
most productive way to increase your net
worth is by owning a business blow it up
and then use the funds to buy pieces of
other businesses and do it all over
again
number three do not use your own money
use someone else's to make yourself rich
you can literally earn your way to one
million dollars there are plenty of jobs
out there where if you put your head
down put in the Years stack those checks
you'll get to Seven figures doctors
lawyers Tech Engineers they all earn a
ton of money from their salaries but you
cannot get to one billion dollars the
same way your financial life unlocks
vertically when you realize you can use
other people's money to make yourself
rich here's how most billionaires do it
step one the go-to friends family Banks
and Angel Investors with an idea that
they're willing to go all the way to
make it happen they need one hundred
thousand dollars to start the business
and give off twenty percent of the
company this values the company at five
hundred thousand dollars their eighty
percent share of this new business is
worth four hundred thousand dollars and
we barely started
step two they get some revenue and they
build a team ready to scale let's say
the company at this point is making one
million dollars in recurring Revenue per
year
step 3 they then go to some external
investors and sell twenty percent of the
business and a 10 million dollar
valuation meaning they now have two
million dollars in cash and the
remaining sixty percent of the company
is now worth six million dollars
use that two million dollars to go from
one to ten million dollars in yearly
recurring Revenue
step five you guessed it you go to raise
funds again this time at a 100 million
dollar valuation you sell twenty percent
more of the business to get that 20
million dollars at this point the forty
percent you're left with is worth 40
million dollars
step six you use the 20 million dollars
to develop a product for other companies
and hire sales people this blows up your
recurring revenue and in two short years
your company is ready to go public
step 7 you file for an IPO where the
company floats ten percent of its shares
on the public market at a 10 billion
dollar valuation you and everyone that's
invested in your company along the way
is now a billionaire at every stage of
this journey you used other people's
money to scale up to hire people to
develop products to get new sales and
with every one of those moves the
valuation went up now before you call
on what we just told you know
that this is the simplified model uipath
has used to IPO at a 35 billion dollar
valuation and we were fortunate enough
to learn from the founder along the way
number four everything is a Buy Low sell
High equation only the scale differs
some billionaires trade in Commodities
coffee medals Etc others trade in
shipping those Commodities where the
cost of gas people and transport is
lower than what others are willing to
pay you to get it delivered others trade
in Risk in debt Tech and media companies
trade in attention and eyeballs buy them
low sell them high use the profit to do
it larger over and over again once you
understand that every business is in the
Buy Low sell High business the way you
look at yours starts to change there are
two important things to optimize if you
want to be rich one what your markup is
and two what your scale is meaning the
number of transactions you're able to do
Amazon as an e-commerce store has tiny
margins but a lot of transactions Tesla
has incredible margins and a decent
number of transactions a business grows
when one of three situations occur one
you charge more and maintain the same
number of transactions artists use this
model two you charge the same but
increase the number of customers when
fast food chains open up new locations
and three you charge more while
increasing the number of transactions
luxury brands use this strategy which
actually made Bernard Arno the richest
man in the world the secret most
billionaires know is that once you move
into a different bracket of scale you
have incredible negotiating power on how
low you can buy only billionaires know
that the profit is made at the point of
purchase not the point of sale
number five art is a preferred store of
value that can easily be moved around
when you're that rich most of your money
is locked up in stocks other businesses
or hard to move assets you don't want to
keep it in cash because at that scale
cash is losing five to ten percent of
its value year over year due to
inflation so where do high net worth
individuals turn to Art yep they buy art
in bulk lease it off to museums around
the world or seal it off in shipping
containers and use it as a bargaining
chip it's a lot easier to move 500
million dollars in art than 500 million
dollars in gold or silver most people
don't realize that blue chip art is one
of the most profitable Investments out
there fine art is often referred to as
the billionaire asset for a good reason
actually blue chip art not only performs
incredibly well in high inflation
environments like the one we're in right
now but it's traditionally consistently
outperformed form the S P 500 according
to a recent groundbreaking study from
UBS 62 percent of ultra high net worth
investors surveyed allocate a shocking
30 or more of their investment
portfolios into art and collectibles now
we know what you're thinking damn these
Ultra Rich individuals getting an
opportunity to invest in ways that
average people just can't because who
has the money to buy a 5 or 50 million
dollar painting well that's where our
friends at Masterworks come in
Masterworks is a platform that allows
Everyday People to invest in
multi-million dollar paintings for just
a fraction of the price instead of
buying the entire painting you can
invest in shares of it and once that
painting is sold the profits are split
amongst the share owners so far those
profits have been pretty impressive
Masterworks last three art sales
generated net returns of 10 14 and a
stunning 35 percent now since Mass Works
was kind enough to support our community
and thousands of you have been
successfully investing with them go to
alux.com Art right now or click on the
link in the description with it you can
skip their waiting list to join and
start investing like this super wealthy
today
number six stocks won't get you to a
billion and neither will luck
stocks work well when you've got a large
time Horizon and a ton of money to start
with back in the 80s and 90s there was
this trend of financial advice where
they said if you simply invested five
dollars every day in the stock market
starting when you were 20 years old and
kept doing it until you were 65 you
would be a millionaire
and like Ugh yes okay we get it the math
checks out but the market is also
evolving and so are costs these
Financial models tell a fancy tale
that's all surface and we think they do
more harm than good and here's what we
mean by that
Warren Buffett paid 31 500 for his house
back in 1958. adjusted for inflation and
market value that same house costs
around 877 thousand dollars in today's
dollars sixty years later that house
costs 28.3 times more it's the same
house nice and old didn't grow any new
bedrooms take a moment to process this
the house just by doing nothing has
almost matched the performance of
professional investors if you keep
saving the five dollars a day by the
time you get to your million dollar
retirement a million will barely buy you
anything it's the same with luck you
might luck your way into becoming a
millionaire but going from that million
to a billion is a whole different ball
game
number seven every new billionaire turns
other millionaires into billionaires
remember the use other people's money
example well every newly minted
billionaire brings with them those who
believe in their Vision enough to open
up their wallets in the early days Peter
Thiel was the first outside investor to
back Facebook he invested five hundred
thousand dollars in exchange for 10.2
percent of the company when Facebook
ipo'd he sold two-thirds of his shares
for 628 million dollars after investing
500 000 friend of the channel Gary tan
the current CEO of Y combinator was the
first investor in coinbase in 2013. that
initial investment of only three hundred
thousand dollars ended up being worth
2.4 billion dollars go anywhere in
Silicon Valley and these types of
stories always pop up make your money
first and then use it to back promising
businesses one of them might just be the
next Airbnb
number eight less than five percent of
their worth is liquid average people
think the rich are hoarding resources
when they say billionaires they picture
Scrooge McDuck jumping into a vault
filled with gold coins but in reality
almost all of them are paper
billionaires meaning shares they own in
companies are worth in excess of one
billion dollars on paper the assets are
worth as much usually billionaires keep
less than five percent of their worth
liquid and if they do need money they do
not sell their assets instead they go to
Banks show them the paper that says
they're worth x amount and then use that
as collateral for low interest loans the
bank provides them with a line of credit
and they go off to buy even more income
generating assets
when Elon bought Twitter he didn't
actually sell his shares in Tesla or
SpaceX in order to come up with that
money the bank gave him the funds to buy
it here's something most billionaires
know you do not pay tax on debt so they
would rather borrow that money using
their assets as collateral
number nine the real money is made in a
crisis
billionaires look at the world
differently than most people poor people
look at life in terms of Days the middle
class in terms of months the upper class
in terms of quarters the rich in terms
of years and the super rich in terms of
decades people made fun of Warren
Buffett's Berkshire Hathaway for
underperforming for the past 10 years
and critiqued his large cash position
losing its value due to inflation but
Warren and Munger were just sitting on
cash waiting they were okay with losing
one to three percent per year because
when this recession hit they were able
to purchase companies at 50 to 75
percent discounts
for billionaires recessions are like the
Black Friday event of the decade
everything you really want is on sale
and that's one of their secrets it's not
the day today you focus on instead you
make two to three plays per decade which
are strategic for growth
number 10 they all had and still have
experts minimizing risk and increasing
returns there's no such thing as a
self-made billionaire at least not in
the way that people think about them in
order for you to have the time and
mental space to focus on exponential
growth you need to know that almost
everything else is taken care of you
find great accounting firms to mitigate
all Financial Risk you find great legal
firms to mitigate all liabilities great
managers and CEOs steadily take the
company to the next level along the way
you have to rely and Trust other
people's expertise to get you to the
next level all of these billionaires
surround themselves with experts who can
point out exactly the inflection points
and how to position yourself for them
these people are called executive
coaches and every big CEO has a couple
of them on council at this level they
cost between a few hundred thousand
dollars to a couple of million dollars
per year their job is to keep the CEO
focused and provide Clarity of thought
very much like a coach trains and
prepares professional athletes for a big
game just think how incredible it would
be to have one of these world-class
super coaches available to you just how
quickly would your life improve and how
quickly would you crush your goals well
now you can my friend we pay these
coaches on your behalf and you get to
learn from them in the alux app for a
fraction of the cost this way you have
access to not one but multiple industry
experts that are focused on the
Practical side of growth we recently did
a survey among star users and over 60
percent of respondents say they've
already crushed their main goal after
one year of using the alux app with
another 30 percent saying that they're
closing in fast everyone who uses the
app has founded a game changer and we
couldn't be more proud to be the ones
behind it honestly the alux app will
probably create more millionaires than
any Financial book out there so go to
alux.com app right now and just see what
it does for you and your life
number 11 very few billionaires are
direct to Consumer most of the money is
in Enterprise deals
you probably don't realize this but
Amazon's direct to Consumer isn't
actually profitable a couple of days ago
we made a video on why Amazon is
actually losing money on this front
instead Amazon's Cloud infrastructure
business AWS is printing cash 35
year-over-year growth over 80 billion
dollars per year in Revenue almost the
entirety of the internet is now hosted
on Amazon's servers a company is more
comfortable to pay you 100 per employee
that uses your service every month
here's something interesting you might
not know Gmail is free for the average
consumer but for us as a business on a
monthly basis we pay ten dollars for
every business email we have with Google
since we've got over 20 at alox.com
emails for this business alone every
year just for something like email we
end up paying Google thousands of
dollars in recurring revenue and we're
just a small sized company Google is now
bringing in 6.3 billion dollars
quarterly from its cloud services that's
a 25 billion dollar per year business as
long as you do business know that it
takes the same amount of effort to
convince a person to buy as it takes to
convince a business it's still one sale
but the difference in income is
substantial most of you could actually
earn 10 to 50 times more than what you
do but you're deploying effort on the
wrong thing
number 12. most billionaires don't start
from the bottom yep we're going there it
takes a tremendous amount of work to
achieve any form of financial success
these people have earned their way up to
the top but more often than not the
context was a little bit more favorable
to them than you might think most of
them had Rich parents access to high
level education infrastructure and a
safety net if they failed so they could
risk it all a couple of times elon's dad
was a multi-millionaire real estate
developer who married a model Jeff
bezos's parents gave him 250 000 to
start the company Bill Gates mother
comes from some serious money the list
goes on going from zero to a quarter
million dollars takes years for most
people not having to worry about where
your next meal comes from is also what
gives you an edge what all of them have
achieved is incredible so the takeaway
here should be if you're in a position
to have access to education you have a
device to watch this video on and access
to Twitter LinkedIn where you can reach
out to almost any professional in the
world please know that you're also not
starting at the bottom the bottom are
the two billion people who don't have a
phone or internet access but if you're
looking for a more controversial Point
well here it is number 13 most industry
tycoons get Wealthy by exploiting slave
labor where you can't see it and the
world doesn't really seem to care the
phone or laptop you're watching this on
the electric cars scooters drones all
electronic appliances like your fridge
Smart TV Etc they all use Cobalt now
here's a recent picture of what's
supposed to be an industrial Cobalt mind
in the Congo the key word here is
industrial because according to of
official documents from all the major
Tech players not a single human being is
supposed to be digging in these Cobalt
mines the average adult gets paid less
than two dollars a day of bringing
Cobalt up out of the ground they
actually prefer to use children because
they're smaller and cheaper for this
kind of work and none of this is new
information here is a video of children
in a Cobalt mine from six years ago as a
developed Society we enjoy the Comforts
technology brings us because we are
sheltered from the reality of what it
actually takes to be produced assembled
and shipped to you and this is not just
the tech industry the international
labor organization estimates that
approximately 170 million children are
used for production although they are
not old enough to work sustainably in
the fashion industry the children are
literally working in the fields picking
cotton transferring pollen for a little
to no pay that's how fast fashion and
Ultra fast fashion is able to get you
those products so cheaply but hey as
long as you get it for cheap right
number 14. almost all of them are
sociopathically obsessed with money and
success
look here's the truth you really really
need to want it to be able to get to
that kind of wealth as it will require
you to sacrifice almost everything else
in your life you don't have a family
life you don't get to spend time with
the kids you're hyper competitive and
traveling all the time you don't sleep
well at night for years and the amount
of stress you're dealing with is nothing
others will ever experience their brain
is wired differently they look at life
differently and see life as building
blocks life will grant you one wish but
you have to figure out what it is and be
absolutely obsessed with one wish
non-stop for decades not sure many
people are really able to do that
number 15 decision making and persuasion
are the only two billionaire tier skills
the job of a senior executive is to make
a small amount of high value decisions
that have major upsides you are rewarded
based on what percent of times you're
right about your decisions
Warren Buffett is regarded by many as
the greatest investor in the world
because of his ability to consistently
make high-level decisions that generate
a lot of money for the investors the
higher you climb the higher the stakes
with every decision you make if you're
in the earlier days persuasion
translated as sales and clear
communication is probably the most
valuable skill there is you will need to
get people to trust you enough to join
you and create a product you will need
to persuade customers to give you money
for your product and persuade investors
to back your company even if you do not
know how to build something with the
right level of skill you will be able to
convince someone else to build it for
you in exchange for a piece of that
reward as you progress there's always
someone new you need to convince to do
something that will benefit you and the
company moving forward if there's one
thing you take away from this entire
piece it's this
systematically improve your
decision-making process and you do this
by taking your mind to the gym
consistently as a result of learning
mental models the second one is learning
to speak clearly and convince others to
follow you on your mission we feel the
word selling doesn't really seem to do
it justice for what exactly you need to
do these two are the only billionaire
tier skills to master which is why the
alux app focuses on them so much you
know billionaires are a different breed
and we're curious to know have you ever
looked behind the curtain of a
billionaire what did you learn Alexa let
us know in the comments and as a thank
you for watching this Sunday
motivational video until the very end
here's your bonus this is what the
average billionaire investor portfolio
looks like thanks to our friends at
visual capitalist for this visual now
the most interesting thing you'll notice
is just how quickly the retirement fund
becomes irrelevant as you climb in net
worth and how that large position is
replaced by a trust fund the wealthiest
10 percent of Americans own a record 89
of all U.S stocks the bottom ninety
percent of Americans barely have any
investable assets at all so here's what
you need to remember you survive by
earning you get rich by owning if you
don't want to end up like 90 of
Americans start buying things that
increase in value over time if this
isn't a wake-up call to start taking
this more seriously Alexa we don't know
what is it's gonna be a really
interesting year and we feel like a lot
of things might change for you if you're
on a mission to escape media write the
word Escape in the comments that way we
know how many of you are interested in
taking this seriously thanks for
spending some time with us today Alexa
we're so glad you did if you found value
in today's video please give us a like
hit that Bell icon to never miss an
upload and hey don't forget to subscribe
foreign
[Music]
تصفح المزيد من مقاطع الفيديو ذات الصلة
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Unlock the Path to $10,000,000 Net Worth in 3-6 Years – Adam Coffey Reveals How!
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The 8 Laws of Money to GET RICH (Apply them NOW)
After I Read 40 Books on Money - Here's What Will Make You Rich
How to Build Wealth From Nothing? The Untold Truth About Money!
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