What can you learn from people that are worth more than $5 Million
Posted by Mukund Mohan at 8/5/2008 1:58 AM and is filed under Technology,entrepreneurship,News and Happening,Economics,Blogging 
There are over 1 Million people in the world who have a net worth more than US $5 Million. Here's what's common to them all:
1. First and foremost, they are almost always entrepreneurs — risk takers for whom wealth is a byproduct of pursuing their passion.
2. They're friendly and fond of new experiences, traits that put them on a collision course with new opportunities.
3. They're too pigheadedly optimistic to heed the long odds and call it quits.
4. And almost all of them made their fortune in a big lump sum after many years of effort.
5. Rich folks often make their fortunes after they make up their minds to solve a problem or do something better than it's been done before.
6. Getting rich also requires a certain amount of stubbornness and clarity of purpose.
7. The odds for solo founders were more like the oft-quoted one in 10, in part because they often found themselves working at cross-purposes with hired guns who see things differently.
8. Paradoxically, the road to riches often means acting as if you already have that freedom.
1. First and foremost, they are almost always entrepreneurs — risk takers for whom wealth is a byproduct of pursuing their passion.
2. They're friendly and fond of new experiences, traits that put them on a collision course with new opportunities.
3. They're too pigheadedly optimistic to heed the long odds and call it quits.
4. And almost all of them made their fortune in a big lump sum after many years of effort.
5. Rich folks often make their fortunes after they make up their minds to solve a problem or do something better than it's been done before.
6. Getting rich also requires a certain amount of stubbornness and clarity of purpose.
7. The odds for solo founders were more like the oft-quoted one in 10, in part because they often found themselves working at cross-purposes with hired guns who see things differently.
8. Paradoxically, the road to riches often means acting as if you already have that freedom.
There are also a lot of rich people with a net worth over $5M whose wealth is a byproduct of being born into a rich family. Their parents or grandparents may have shared some of the traits you mention, but sometimes those lessons aren't passed along with the money.
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BTN
I think that a significant portion of the over $5 Million net worth individuals are first time earners, and not "inherited" money. I cannot quantify the number, but I think its fewer people that have inherited money and very small percentage of people that "did a job" and made over $5 Million.
In other words the Google employees (not the founders) are an exception not the rule.
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BTN has a good point, but I think item number 8 is the key, but I'm not sure it is acting like you have that freedom, it's more lack of fear and clarity of what's important. While I don't see $5M as rich, I do think that finding the necessary balance in life and prioritizing the important things, makes it easier to get to a comfortable spot.
~jon
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