Bill Gates is one of the world’s richest men. He was born in 1955, married to Melinda Gates, and has three children. He is an entrepreneur and programmer. He co-founded the world’s largest personal computer software company, Microsoft Corporation with his childhood friend, Allen, and owns the Gates foundation which stretches its hands of benevolence towards African countries and the whole world with his wife, Melinda Gates. Currently, he is one of the world’s richest men, he continues to expand his streams of income and is worth $128.1 billion. Learn 10 ways Bill Gates build his wealth.
Bill Gates is one of the richest people in the world with a net worth of 128.1 billion dollars and he is currently more interested in giving out his money than he is interested in earning. He is a role model to many, a figure to watch out for, and has built his wealth in some ways that are worthy of emulation.
They are:
- Education and quest for knowledge: Bill Gates has an unquenchable thirst for knowledge although he dropped out of Harvard, he says he was transformed by his years at Harvard and would often attribute his success to Harvard because of the opportunities it presented to him while he was there. He said he used to be in classes in didn’t sign up for just to learn a few things and that knowledge has helped him amerce his wealth.
- Supportive parents: Gates had supportive parents as he had often said in an interview. He considers his parents to be his role models because while growing up, they would return home and talk to him and his siblings about the world of business, law, and philanthropy that had been engaged in. when Gates chose to drop out of school, his parents were not happy but they supported his through his choice and helped him gain contracts for Microsoft.
- Choice of business partners and partnerships: During the growing years of Microsoft, Gates was intentional about the kinds of friends and partners he kept and when to end partnerships. He went into partnership with his childhood friend, Paul Allen, and co-founded Microsoft, and since then been great friends as they learned a lot through the growth of Microsoft.
- Confidence in his dream and vision: Bill gates was opportune to attend an elite school that exposed him to the use of computers at an early age and built the idea that nothing is impossible in his consciousness. When Allen and Gates started Microsoft, people didn’t buy the idea they presented but they were focused and confident in their dream.
- An emergency fund for Microsoft: Gates grew with the knowledge that to become successful, he has to amass enough emergency funds to pay salaries and keep the company afloat on rainy days and this idea helped in the growth of Microsoft as there was no bankruptcy.
- Learning from his mistakes: Gates said that one of the things that have contributed to the growth of Microsoft is the company’s ability to accept mistakes and learn from them and the company’s large purse helped it try new things when on failed.
- The habit of getting enough rest: In an Interview, Gates said that he sleeps for seven hours for his intellectuality to produce effective results. He could do anything without sleeping but for him to think creatively, he needs seven hours of sleep at night.
- Diversification of his portfolio: During the time of Microsoft’s growth, Gates committed all his time to build of Microsoft to become the best Tech company in the world but when Microsoft become successful, he sold some of his shares and invested in different other stocks to diversify his source of income and save him from financial calamity.
- Giving up control/humility: Gates implored the habit of not just writing codes every day but trusting his employees to do the job and seeing him as a mentor instead of a co-worker. That way, it helped him lose control of some things and gave him time to do other things. Passion for his work: To grow at what you do, you must love it. Gates was passionate about his work and this helped him grow, see opportunities, and explored them.
Conclusion
Bill Gates is one of the richest people in the world and is currently worth $128.1 billion. Although he dropped out of school early in his life, he attributes his success to Education, great partnerships, diversification of his portfolio, his supportive parents, ability to give up control, storing of an emergency fund, learning from a mistake, confidence in his visions and getting enough rest.
Frequently Asked Questions
- What does Bill Gate do with his money?
Recently, Bill Gates is more interested in giving out his money than he saves it. He has contributed to fighting diseases in African countries with his foundation and a major part of his wealth goes into the foundation and other charitable engagements he has created.
- How else does Bill Gates earn?
Since the success of Microsoft, Bill Gates has diversified his portfolio into several other sectors. Some of the sectors he has invested in are communication service, consumer cyclical, real estate, financial services, etc.
