The Road to Riches is indeed the road less traveled. That explains why only a small percentage of the population successfully reached their destination- that of amassing immense wealth and fortune. But for us who are willing to walk that path towards financial prosperity, which road are we going to take?
There are several routes that a person can take to become rich. Some may involve confusing roads and obstacles that would delay our travel. Some are very tempting shortcuts that could speed up our journey to riches, but at the expense of many things in our lives. However, becoming rich requires dedication and commitment. It involves a lot of factors- a mix of determination, patience, financial intellect, and of course, an ounce of good luck.
Some people became rich because they worked hard for it. A relative few, however, were just damn lucky. I’ve listed a broad summary of some of the paths taken by some people towards becoming rich.
Invented something either a product, a code, or a formula, and obtained a patent:
Scott A. Jones made a fortune by giving voice mail technology to the world.
Wrote a novel that became a best-seller, earning royalties for each book sold:
J.K. Rowling’s final installment of the wizardly adventures of Harry Potter helped add $300 million to her bank account, making her the richest author on the planet.
Invested wisely in the stock market:
Starting off his investment career when he was 11 years old, Warren Buffet is now the world’s richest person, with an estimated net worth of $98 billion as of 2022.
Started as a small-time entrepreneur, eventually evolving into a multi-national corporation:
Howard Schultz started his career working for a coffee beans company. He is now the proud founder and CEO of Starbucks Corporation.
Studied and earned a degree in a lucrative profession like a cosmetic surgeon, an engineer, an architect, a lawyer, a specialty doctor, or a stockbroker:
Gerald Hosier began his career doing pro bono criminal defense work. Now, he is a top-earning lawyer in the US with an estimated net worth of $40 million.
Gambled and hit the jackpot in the lottery:
Jack Whittaker became an instant celebrity after bagging $314 million in a Powerball lottery.
Invested in real estate properties:
Jeff Greene got rich investing in real estate and superrich betting against it. CNBC’s Jane Well’s reported that his $50 million investment is now up tenfold, to $500,000,000.
Owned rental properties:
Among the many investments of Donald Trump, his rental properties continue to give him the edge in terms of financial power.
Married someone who is rich:
In Lucy Bulmer’s article, Confessions of a Golddigger, she cited a woman named Beverley Charman who bagged £48 million from her former husband – the biggest divorce award ever.
Alice Louise Walton is the third richest woman in the world, with inherited wealth of $56 billion as of 2022.
Earned millions through Multi-Level Marketing, though legitimacy might be questioned:
Randy Allen, Eniva Executive National Director, is said to be the richest guy in MLM. All the public evidence available in the internet indicates his astronomical wealth.
Gifted with athletic skills, becoming a professional athlete, and reaping millions from advertisers:
Tiger Woods, Lebron James, Serena Williams, and Tom Brady to name a few over the years.
Hit it big in the entertainment world:
Oprah Winfrey remains No. 1 in Forbes Celebrity 100. She earned $275 million before taxes in the past 12 months, and she remains one of the most famous faces in the world.
Became a singer, wrote songs, endorsed products, used the money for wise investments:
To name a few, Kanye West, Jay-Z, and Dr. Dre made it big in the industry and invested their money wisely.
Had a good bank reputation and applied for a loan than invested wisely:
Henry Sy would not have become the richest Filipino in the world without the 1 million peso loan that he applied for in China bank.
An employee who aimed for a promotion or became the CEO of the company:
Oracle’s Larry Ellison has been named the top-paid chief executive in the US. Worth $102 billion as per the year 2022, Ellison persuaded Oracle to award him a fiscal 2008 pay package valued at $84.6 million this year.
Earned money online through advertising, affiliates, selling products, or offering their service.
Larry Page, the co-founder of Google, Inc., is now estimated to have a net worth of $93 billion as of the year 2022. Google earns revenue from advertising related to its Internet search.
There are more methods as to how other people become rich. Feel free to comment to add more to the list.