Common traits of Billionaires

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1. “Self-made” billionaires, he says, are different. Most of the billionaires Badziag interviewed didn’t come from well-off families or ideal situations, but they pursued their dreams no matter the circumstances around them — no matter the “weather outside or inside,” he says.

2. They don’t do it for the money
Most “drifters” are dying to have big incomes but never quite achieve a high net worth status, or if they do, they lose motivation when they have some good in money in bank, says Badziag. (He refers to it as “the gold digger’s trap.”)

However, Badziag found that the “self-made” billionaires he interviewed aren’t motivated by wealth. Instead, they “have a strong sense of purpose and passion for their work,” and are motivated by a desire to “to grow and learn no matter how big thbig their bank accounts get,” he says.

Murthy told Badziag he was driven by the belief that the only way to solve the problem of poverty was “through the creation of jobs with good incomes and that entrepreneurship was the best instrument for such a solution.”

3. They are frugal
“Drifters” love spending money, according to Badziag, often going into debt to spend even more than they have. Even successful people are prone to showcasing their wealth via cars, expensive clothes and lavish vacations.

But the billionaires Badziag interviewed were different: They “get pleasure making money, but don’t enjoy spending it,” he says.
Take for example, Warren Buffett, the fourth-richest person in the world with a net worth of around $87.3 billion. Despite his massive wealth, the 88-year-old still lives in the same modest Omaha house he purchased in 1958 for $31,500 (which is around $277,00 in today’s dollars). He also keeps his breakfast budget low, only spending around $3.17 a day at McDonald’s to get one of three items: two sausage patties, a sausage, egg and cheese or a bacon, egg and cheese.

And Peter Hargreaves, the founder of Hargreaves Lansdown, one of the UK’s largest financial services businesses, told Badziag a few years back that he was still driving an eight-year-old Toyota Prius. Hargreaves’ net worth is estimated at $4.2 billion.

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Reference
Scipioni, J.2019. Three traits that Billionaires have in common according to a guy who interviewed them.
Available from https://www.cnbc.com/2019/07/02/self-made-billionaires-have-these-traits-in-common.html