Daily Management Review

First jobs of the most famous American billionaires


10/13/2016


None of the current billionaires was born rich and successful, and their wealth had not suddenly jumped to billions of dollars.



Michael Bloomberg | by Center for American Progress
Michael Bloomberg | by Center for American Progress
Every well-known modern American investor or financier had his own long and thorny road, only their first steps were completely different. Many famous people admit that they were carrying bags of walnuts, sold peanuts, delivered newspapers and waited in parking lots. Some of today's rich turned a penny as children, while others had to start a career in order to pay for their studies and ensure their livelihood.

Warren Buffett: chewing gum, Coca-Cola, newspapers

It is not surprisingly that today Buffett is considered one of the most successful and biggest billionaires, because he began to work at the age of only six. In those days, Buffett went from door to door to sell chewing gum. Later, young Buffett decided to diversify his product line and began distributing second favorite American product, Coca-Cola. He also managed to deliver newspapers every morning. Well, today Buffett heads investment fund Berkshire Hathaway, and is one of the most successful people in the world with a fortune of $ 44 billion. 

Michael Bloomberg: parking lots

When former Mayor of New York Michael Bloomberg was a young student, he had to earn money in parking lots to study at Johns Hopkins University. Years later, Bloomberg managed to get into a finance company, and founded his own office in 1981. Who would have thought, but today it has become one of the largest media empires in the world - Bloomberg LP Corporation. Perseverance and hard work brought Michael Bloomberg fortune of $ 22 billion.

Sandy Weill: New York directory books

In the mid 50-ies, Sandy Weill, former chief executive of Citigroup, sold New York directory books. Yet, he did not make a serious headway since he was more into games than of work. As a grown-up, he got a job at a brokerage firm on Wall Street, and headed Citigroup after many years of hard work.

T. Boone Pickens: his own newspaper

In his early years, Pickens delivered self-publish newspapers in his hometown in Oklahoma. He managed to seriously succeed in this business by increasing supply routes, and acquisition of a number of other local newspapers. Today, Pickens is chairman of BP Capital Management investment fund. He also has his own program The Pickens Plan, which aims to ensure US energy security. Wealth of the former newspaper publisher is estimated at $ 1.4 billion. 

Ray Dalio: golf club

Work of caddy, a carrier of clubs and other sports equipment on the golf course, is not the most honorable in the world. However, it is ideal for young men who want to have a few extra dollars in their pocket. At least so thought 12-year-old Dalio. In addition, aristocrats, investors and financiers from Wall Street gathered there to play their favorite game, so Dalio could also receive necessary and beneficial contacts. Later, Dalio founded Bridgewater Associates hedge fund, one of the most successful in the world. Wealth of the former caddy is estimated at $ 10 billion. 

source: businessinsider.com






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