Tag Archives: becoming a successful millionaire
Bob’s father passed away when he was just a teenager. He began to assist his mother to run the existing family business smoothly. He had never been wealthy but, when he immigrated from the Soviet Russia, he managed to attend the prestigious private school in Chicago. He made a good network of friends who later on evolved as important business contacts.
During the World War II, he discovered that he had an IQ of over 150 through a test. This helped him to get into the department of counter intelligence. As his first step towards becoming a successful millionaire, Bob concentrated in establishing a strong wholesale network across the Midwest. This was when he returned to resume the responsibility of his family business. His firm emerged as the sole supplier of a popular brand of cookers.
In 1960s, Bob diversified his investment as he realized the unforeseen potential of the FM radio. He indulged in radio manufacturing and bought several radio stations. Two decades later, Bob had already reaped his benefits and decided to retire after selling most of his interests. He has also focused on the private-placement bonds, real estate and venture capital. He has always reiterated that to become a millionaire one needs to think, plan, invest and work in tandem. He observes, “The success lies in making more good decisions than bad decisions”.
John Jacob Astor is America’s first millionaire. He was a German immigrant who arrived at Manhattan with just five English pounds with himself, at the age of sixteen. But, that did not deter him from evolving himself as the most reputed and well-known millionaire in the American society. He inculcated his business strategies so as to successfully amass the vast swaths of Manhattan and eventually, his dream of becoming a successful millionaire was fulfilled. He became the largest and the wealthiest landowner in New York. Astor was born in Baden, Germany in 1763 and apart from being a millionaire businessman; he was a real estate builder, inventor and writer as well. His father was a butcher by profession and he was the third son.
He started off with a fur trading firm and focused on building his network across the whole of America. In 1811, he laid the foundation of Astoria, which happens to be the first American settlement in the West Coast. He crossed the Pacific and traded with China, his products included opium and then he gradually switched over to a more lucrative option – liquor. He exchanged liquor for fur with the Indians. He even made a $10million donation for covering the expenses of the World War I, although he was completely against the war. His fortune multiplied when he was presented a bundle from the war bonds.