How long it took 11 of the world’s richest people to become billionaires
Few of the entrepreneurs dream up businesses that turn them into billionaires virtually overnight while others work for decades to join the three comma club.
Moreover, in a further outlook, it takes a billionaire 21 years to make their first billion, according to an analysis of the Forbes’ 2020 Billionaires List by British sports betting firm OLBG. Few, like Facebook CEO Mark Zuckerberg, does the same job much faster while others, such as Zara billionaire Amancio Ortega, take a bit longer to amass their massive fortunes.
As of reference, none on the 2020 Billionaires List was inducted into the three comma club faster than eBay founder Pierre Omidyar, nevertheless, who made a billion dollars in just three years after founding the online auction house.
Keep on reading to survey how long it took some of the richest people in the world to make their first billion,sequentially placed in order of slowest to fastest time to billionaire status.
Note: This ranking, nonetheless, only includes self-made billionaires in the order they appeared on Forbes’ 2020 Billionaires List as it was originally published in March, so those who inherited their fortunes, like the Waltons of Wal-Mart, have been excluded in the due event likewise. OLBG concluded how long each individual took to become a billionaire by subtracting the year they founded their primary business from the year Forbes declared them a billionaire.
- Carlos Slim might be the richest man in Mexico, however, it took him 30 years to become a billionaire.
Current net worth: $53.2 billion ( as being attributed to Slim and his family)
Source of wealth: Telecommunications giant America Movil.
Slim, 80, and various of his family members control Latin America’s largest telecommunications company, per Forbes. He, nonetheless, has also invested in construction, consumer goods, and real-estate firms in Mexico, as an addition to holding a stake in The New York Times, per Forbes.
- As of information, it took Spanish fashion mogul Amancio Orteha 26 years to join the three comma club.
Current net worth: $63.3 billion
Source of wealth: Zara parent Inditex
The massive 84-year-old Spaniard began his career in textile manufacturing but, moreover, went on to cofound fast-fashion retailer Zara with his late wife Rosalia Mera in 1975, Business Insider previously reported.
- Warren Buffett’s conservative investing philosophy probably has made him a huge amount of money, but it was a slow process. It took him 23 years to become a billionaire.
Current net worth: $72.5 billion
Source of wealth: Berkshire Hathaway conglomerate
Apparently, investor Warren Buffett made his fortune running conglomerate Berkshire Hathaway, per Forbes. The company, moreover, owns fast food staple Dairy Queen and insurer Geico.
- Fashion billionaire Bernard Arnault took his time of 13 struggling years to become a billionaire.
Current net worth: $112.1 billion
Source of wealth: Louis Vuitton owner LVMH
The 71 year old French businessman Bernard Arnault, is the richest person in the fashion industry, as Business Insider formerly reported. Nonetheless, the pandemic temporarily reversed the luxury conglomerate CEO’s fortunes, sending both LVMH’s share price and Arnault’s net worth into a free plunging fall.
- and 6. It took Microsoft’s Steve Ballmer and Bill Gates a period of 12 years to become billionaires after founded the Software giant.
Current net worths: $113.6 billion (Gates), $72.1 billion (Ballmer)
Source of wealth: Microsoft
The 64 year old Bill Gates, founded the software giant Microsoft with his high school friend Paul Allen in 1975, Business Insider formerly reported. The company was reason to why Gates became a billionaire in 1986, the year after it went public, in accordance to CNBC.
Ballmer became one of Microsoft’s first employees after dropping out of Stanford Business School in 1980, as Forbes reported. Ballmer’s Microsoft stake also made him a billionaire. He spent 14 years as Microsoft’s CEO after Gates stepped away from the top post, and now owns the Los Angeles Clippers, per Forbes.
- Larry Ellison became a billionaire nine years after he found Oracle.
Current net worth: $72.4 billion
Source of wealth: Oracle
The 75 years old Larry Ellison, co-founded software firm Oracle to produce and sell customer relationship management databases, per Forbes. Furthermore, the two-time college dropout, Ellison is now best known as an international playboy and tech titan, Business Insider previously reported.
- and 3. It took Google co-founders Sergey Brin and Larry Page a time period of six years to become billionaires.
Current net worths: $67.5 billion (Brin), $69.3 billion (Page)
Source of wealth: Google parent Alphabet
Larry Page and Sergey Brin co-founded Google in 1998 while working for their PhDs at Stanford, per Forbes. The massive pair went on to spend decades atop Google parent Alphabet — with Page as CEO and Brin as president — before eventually stepping dowm in December 2019.
- Just not is Jeff Bezos worth more than any other person in history, he however also almost broke the record for becoming a billionaire the fastest. It only took him a time period of five years as witnessed.
Current net worth: $183.1 billion
Source of wealth: Amazon
Jeff Bezos, now age 56, left his job at a New York City hedge fund to sell books on the internet in 1994. That company, renowned as Amazon, became the world’s largest retailer and made its CEO the world’s richest man in the ongoing procedural battle.
- Mark Zuckerberg, how so ever, might not have graduated from Harvard four years after enrolling, but he did join the three comma club in that amount of time.
Current net worth: $87.9 billion
Source of wealth: Facebook
Mark Zuckerberg, now of the age of 35, founded the social networking platform in his dorm room at Harvard, Business Insider previously reported. Zuckerberg’s 15% stake in the company helps him become the seventh-richest person on the planet according to Forbes, but the billionaire has said that he and wife Dr. Priscilla Chan however plan to give most of their wealth away.
Writer – Soumili Roy.