Is pop music dead? In a recording sense maybe, but definitely not at the live gate. Pop star Pink might be more near the twilight of her pop career, but she is still raking in the big bucks, recently grossing over $80 million on the Australian and New Zealand leg of her world tour alone.
It seems that she is still a massive across the world as legions of fans have come out to support her most recent tour on the continent.
Pop Star Pink is Massive Down Under
Did you know that pop star Pink is now the second highest grossing musical artist in Australia and New Zealand? She is second only to the Rolling Stones in terms of career gross earnings.
The Aussie/New Zealand leg of her ‘Beautiful Trauma World Tour’ saw the pinkish vocalist sell a ginormous 559,361 tickers. According to stats published by Billboard, the recent Pink tour in Aus and NZ grossed in the region of $80 million.
This is her biggest tour of the region up to date, even surpassing the figures at the height of her career in the late 2000s. Her 2013 tour, The Trust About Love Tour, grossed upwards of $73 million.
Over the course of her career, pop star Pink has performed approximately 180 shows in Australia and New Zealand since first playing in the region back in 2004.
Massive Career Earnings in Australia
Some of Pink’s most popular songs include her first hit single ‘There You Go’ back in 2000 and other favorites such as ‘Stupid Girl’, ‘Who Knew’, ‘Just Give Me a Reason’, ‘Leave Me Alone’ and a myriad of other hit singles and albums.
Pink is now the second highest selling musical artist in Australia and New Zealand, with a career gross of $228 million, which is staggering. She is second only to the Rolling Stones who have grossed a total of $429.8 million.
The fact that she is a higher grossing star than The Beatles, ABBA and even Michael Jackson should put things into perspective for you.
Pop star Pink finished up on the last day of her 42-date tour of Australia and New Zealand in September, but the stats have only just come to light. She is still currently in the middle of her world tour with a further 60 dates left across the UK, US, Europe, Canada, and South America, which will not finish until mid-way through 2019.
Strap on your seatbelts, pray to your deities and get ready for blast-off! India’s first homegrown satellite, built by Exseed Space is almost ready to take-off and will be launched on Tuesday on-board SpaceX Falcon 9.
India is poised to send their first-ever satellite into space, designed and produced in Mumbai-and Hyderabad, by the Mumbai-based startup company Exseed Space.
One Small Step for India and Exseed Space
The first living thing human beings successfully sent to space was a monkey named Albert II on June 14, 1949. We don’t want to tell you what happened to the original Albert I. It’s safe to say he went on a scenic journey to a special place in the cosmos.
A new chapter for India’s space exploration history will be written on Tuesday when their first ever homegrown satellite, named ExseedSat-1, will be launched into space from Vandenberg Air Force Base in California.
The Indian satellite ExseedSat-1 will be one of 70 satellites from 16 countries that will be launched on-board Elon Musk’s SpaceX Falcon 9 rocket on Tuesday. It’s an exciting time not just for the Indian space industry and Exseed Space, but also on a global scale.
Exseed Space From Mumbai
Exseed Space is a Mumbai-based startup that has designed and constructed Indian’s first privately built satellite. They will become the first ever Indian company to send a satellite to space.
The firm was first established in 2017, founded by Kris Nair and Farhan Ashhar to build and develop small satellite platforms. They are hoping to become a major player in the design, assembly, testing, and integration of satellites.
Exseed Space is currently working to create Indian’s first satellite manufacturing facility that can cater to the growing interest and demand in global markets for Nano and Microsatellites, and Cubesats.
Exseed Space was funded by a Mumbai finance company named First Cheque, who is also in the early stages of helping 100 new startups over the course of the next five years in India.
The takeoff time for the SpaceX Falcon 9 and ExseedSat-1 will be at 6.32 pm GMT on Tuesday, November 19. Everyone will be holding their breath simultaneously as the Exseed Space satellite will be propelled into outer space creating history for India.
Rich people have lavish lifestyles and eccentric hobbies. They also make extraordinary purchases when it comes to the art of gifting. Some of them like to spend their money on themselves while others prefer to spend it on their friends and family.
While the Taj Mahal, built by the Mughal emperor Shah Jahan, remains one of the most admired gifts in the world, rich people in the last two decades have tried to surpass it by splurging on luxurious yachts and private jets.
It’s safe to assume that these people weren’t shopping on a budget because some of these presents are extremely impressive.
The Most Extravagant Gifts Given by Rich People
1. Art Collection Worth Over $1.5 Billion
Russian-Israeli businessman Roman Abramovich has a net worth of $11.5 billion. After getting married to art collector Dasha Zhukova in 2008, he began showering her with gifts worth more than $1.5 billion.
Abramovich gifted her a $14 million Alberto Giacometti sculpture, paintings from artists Francis Bacon and Lucian Freud worth a total of $119 million, and 40 paintings from Russian-American artist Ilya Kabakov for $30 million to $60 million each.
Russian entrepreneur Mikhail Gutseriev reportedly spent $1 billion on the wedding of his son, Said Gutseriev, in 2016. The wedding included performances from singers such as Jennifer Lopez, Enrique Iglesias, and Sting.
The tycoon (worth $4.2 billion) paid Lopez around $1 million to sing some of her famous songs at the party. The bride’s dress, designed by acclaimed fashion designer Elie Saab, is rumored to have cost around $1 million, whereas her tiara was bought for almost $5.71 million.
Anil Ambani is the youngest son of Indian business magnate Dhirubhai Ambani and has a net worth of $2.2 billion. He bought a luxury yacht Tian worth $84 million for his wife, Tina Ambani, in 2008.
News websites called it sibling rivalry because Ambani bought this yacht a year after his brother, Mukesh Ambani, gifted a $60 million jet to his wife. Tian was built in Italy at a cost of €34 million ($38.83 million). It is 34 meters long and hosts six rooms, a dining room, and multiple cabins.
Mukesh Ambani is India’s richest man with a net worth of $44.2 billion. He also owns the world’s most expensive building, costing more than the Buckingham Palace, Antilia valued at $1 billion.
In 2007, Ambani gifted a luxury jet worth $60 million to his wife, Nita Ambani. It has a master bedroom, an office, and a bar. His daughter, Isha Ambani, is set to get married in December 2018 in a lavish wedding. It is expected that he will shower her with lavish gifts — tabloids have already reported that her wedding invites are worth 30 crore INR ($41,791) each.
Beyoncé Knowles, the famous singer who has won 22 Grammy awards, surprised her rapper husband, Jay-Z, with a $40 million private jet on Father’s Day in 2012.
The Bombardier Challenger 850 airplane has a seating area with enough space for 16 people, a spacious living room with cream leather sofas, a five-star kitchen, a bedroom, and two bathrooms. The couple uses the jet for family trips as well as their world tours.
Football superstar David Beckham gifted his wife, Victoria Beckham (Posh Spice), an $8 million Bulgari necklace at Valentine’s Day in 2006.
The necklace is made up of rubies and diamonds and is rumored to have been designed by Beckham. It is just another addition to her jewelry collection which already has 14 engagement rings. Some of these rings include a three-carat marquise-cut diamond ring worth $85,000 and a pink champagne colored diamond ring reportedly worth $1.1 million.
On Jay-Z’s 43rd birthday, Beyoncé gave him a $5 million Hublot watch. With a net worth of $355 million, the singer knew she wanted the most expensive watch for her husband.
It’s encrusted with 1,282 diamonds and was first shown at the 2012 world watch and jewelry show ‘BaselWorld’. Jay-Z has previously praised Hublot by using the brand’s name in one of his songs. He even collaborated with Hublot in 2013 to release the Shawn Carter collection.
Former boxer Mike Tyson gifted a $2.2 million 24-carat gold bathtub to his first wife, actress Robin Givens.
This gift was a huge gesture of Tyson’s love for his wife, but it wasn’t enough to save their marriage. The couple got divorced in 1989. Tyson, who already owned 3 white Bengal tigers worth $70,000 each, went on to file for bankruptcy in 2003 when he was $23 million in debt.
Before Beyoncé treated her husband with a private jet and a diamond-encrusted watch, she gave him a $2 million sports car on his birthday.
The Bugatti Veyron Grand Sport joined Jay-Z’s luxurious collection of cars in 2010. He also owns a Maybach Exelero, a Pagani Zonda F, a Rolls-Royce Phantom, a Ferrari F430 Spider, and a Porsche 911 Carrera Cabriolet. These cars are worth a total of $15 million.
10. A Vineyard in Napa Valley
14 engagement rings weren’t enough for David Beckham to declare his love for Victoria Beckham as the loving husband bought his wife a vineyard too.
Located in Napa Valley, news websites claimed that the footballer may have spent a ‘seven-figure sum’ to buy this land. The news of the purchase broke out after the couple was photographed in the vineyard alongside celebrity friends Tom Cruise, Kate Beckinsale, Seal, and Katie Holmes.
11. A $1.6 Million Helicopter
Back when actors Angeline Jolie and Brad Pitt were still married, she used to surprise him with the most creative gifts. In 2012, she bought a waterfall in California as well as a $1.6 million helicopter for her husband.
Chateau Miraval, the couple’s house in France where they also hosted their wedding, already had a helipad. So, Jolie decided to give Pitt the helicopter along with some flying lessons.
12. 14 $1 million Cheques for Friends
Academy Award winner George Clooney is extremely thankful to 14 of his friends for helping him in the beginning of his career. In order to show his gratitude, he gave $1 million in cash to each one of these friends in separate suitcases in 2013.
Clooney also paid their taxes so that they could take the entire amount. According to American entrepreneur Rande Gerber, the $1 million amount was gifted in $20 bills. According to E! Online, Gerber gave his share to a charity later.
American rapper and Cash Money Records co-founder Birdman discovered Lil Wayne when he was nine years old. Even though the duo had some conflicts in the past, Birdman once gifted the rapper with $1 million in cash in a $2,140 Louis Vuitton suitcase.
Birdman presented this amount to Lil Wayne on his money-themed birthday party in 2008. Party-goers reported that the latter was left speechless by this gesture.
14. A $1 Million Cheque on Mother’s Day
Rapper Kanye West gave his wife, reality TV star Kim Kardashian West, a $1 million cheque as well as shares in his company Adidas Yeezy on Mother’s Day.
West sent over the gifts after his wife agreed not to post a sponsored picture of another brand for a million dollars. He also wrote her a thank you note in the envelope that contained the cheque. He has previously given her a $35,000 Cartier panther bracelet and a $1 million Lorraine Schwartz diamond choker.
Facebook founder and CEO Mark Zuckerberg has lost $17.4 billion, suffering from Facebook’s reputation and share price this year. He’s not the only billionaire to lose out in 2018, but he’s currently the most famous and has certainly lost more than any other.
Zuckerberg has dropped from being the third-richest person in the world to becoming the sixth richest, according to Bloomberg’s Billionaires Index. Zuckerberg now has a net worth of $55.3 billion.
The Facebook founder has faced increasing criticism over the ongoing Cambridge Analytica data scandal and Facebook’s response to the apparent social media influence exerted by Russia in US elections.
Data privacy is still an unresolved issue in the eyes of many global governments. Some seek answers over how their citizen’s personal information is handled and how Facebook will prevent illicit behavior in the future.
Just two weeks ago the UK and Canadian Parliaments summoned Zuckerberg to personally answer their questions, in an unprecedented joint move.
Facebook shares fell 3% on Friday to their lowest point since April 2017, and to a value of $139.53.
Facebook Share Price Source: Google
The latest fall in Facebook’s share price followed a call last week by four US Democratic senators to answer questions about Facebook’s use of contractors to spread “intentionally inflammatory information.”
According to reports, Facebook had hired a consulting firm founded by Republican strategists as part of its response to the concerns over Russian meddling. The firm’s subsequent actions are under scrutiny.
Zuckerberg’s Chan Zuckerberg Initiative is a major US political donor and Facebook co-founder Dustin Moskovitz has also donated over $35 million to Democratic and Liberal candidates and groups.
Other Billionaires Losing Their Riches in 2018
Amancio Ortega
Retailer and owner of the Zara fashion chain, Amancio Ortega, has lost $9.49 billion in 2018 to date, as per Bloomberg, reducing his wealth to $65.9 billion.
Ortega is the 5th richest person in the world and earns around $400 million in dividends each year.
Carlos Slim
Carlos Slim is Mexico’s richest man and owner of Latin America’s
largest mobile telecommunications company America Movil.
He’s lost $9.47 billion, taking his net worth down to $52.1 billion. Slim is the 9th richest man in the world.
Jack Ma
Alibaba Founder Jack Ma has also lost $6.67 billion in 2018, reducing his net worth to $38.8 billion.
Ma is the richest person in China and the 19th richest person in the world.
Alibaba last week led the most successful Singles’ Day shopping event yet, but that’s not likely to impact Ma’s wealth this year.
Images from Forbes. Featured image by Shutterstock.
If you slept through your alarm, stubbed your toe on the bedside table, or stepped into a puddle on your way to work, you may be thinking you’re having a crappy day. Well, guess what? The rest of the world is accompanying you in your mood. It’s World Toilet Day today. That’s not a joke but a real official United Nations international observance day. And it’s actually a lot more serious than it sounds.
Why World Toilet Day?
Because nearly 2 billion people around the world use drinking water that may be contaminated with feces and 4.5 billion people live without access to a safe toilet. This means that many people are left to defecate outside which contaminates their environment, their source of water and pretty much makes them live in a sewer.
Bill Gates recognized this problem back in 2011 and launched a global competition called the Reinvent the Toilet Challenge. However, he’s still struggling to scale a suitable toilet to solve the problem in areas that don’t have enough water to run one.
It’s not easy to build a working toilet in poor areas where water is scarce and laying an intricate network of pipes is just not a possibility. This problem is particularly prevalent in India where a massive 39% of the urban population can’t use their toilet due to insufficient water.
Here’s Why Having a Working Toilet Matters
If you take a look at the infographic below you’ll see why it’s so important to have a working toilet. Even Gandhi said that sanitation was more important than independence. And he was a pretty wise man.
Nearly 3 million people die every year due to inadequate sanitation and diarrhea is the second biggest killer among children. Which again, puts your shitty day into perspective.
If you think you’re up to the challenge and want to join Bill Gates on his quest to solve the world sanitation problem, here are the guidelines that your toilet should be able to do:
Separate the germs from the usable matter in human waste and reuse valuable resources such as energy and water
Operate without connection to water or electricity
Cost less than $0.05 a day to run
Promote sustainable and profitable sanitation solutions in rural and poor urban communities
A few toilets have been designed that fit some (but not all of) the specs but scaling them is a challenge. Clear Toilet China, for example, depends on rainwater to function. While it costs just $0.03 a day, it does not produce fertilizers or delivers energy.
The Eco-San Toilet US relies on solar energy and collects 4-5 meters of cubic usable (not potable) water a day, as well as fertilizer but costs $0.02 per flush.
While Gates officially announced the winners back in 2012, the problem is yet to be solved. The WHO says that every dollar invested in sanitation yields $4.3 in return. So if you want to get involved in reinventing the toilet, you have a massive and profitable market to get into.
47-year old actor David Arquette was left with a bloodied nose on Friday night as he completed his return to wrestling, TMZ reports. The event which was organized by Game Changer Wrestling at LA Confidential was aired at Fite TV on a pay-per-view basis.
Arquette, who was the star of popular horror movies such as Scream and The Tripper, competed in a promotional wrestling Deathmatch, notorious for allowing makeshift weapons, in Los Angeles against the professional wrestler and ex-convict Nick FN Gage.
Arquette, who wasn’t the first choice for the matchup, but was replacing an injured Joey Ryan, ran out of the ring at one point, after Gage had smashed light tubes over his head and sliced his neck with shards of glass.
The ex-convict also put Arquette through a door that had a spear inserted on its corners, hitting the actor’s head. It wasn’t all Gage, though, as Arquette had his moments in the match, particularly when he smashed a cannonball on Gage, after taking a beating from the light tubes used to restrict his movement.
Gage won the Deathmatch by pinning Arquette, a former World Wrestling Champion, who at that point, was more concerned with the bleeding than winning the match. Arquette, who had told Fox News, he was staging a comeback into professional wrestling in September had stated at the time:
“I literally feel like I’m Rocky, I mean like I’m in the gym sweating like crazy going to the gym every day for hours, you know, getting it, so I don’t get winded so easily and putting on muscle losing a bunch of weight, so it’s all about training, it’s all about determination, it’s all about, you know, believing in yourself.”
Visibly shaken, as the blood ran through his face, Arquette ran out of the ring the second Gage was declared the winner of the matchup. He later sent out a series of tweets explaining that he was getting the necessary treatments, adding:
Many people imagine that being fabulously wealthy means living a life of excess and grandeur, buying luxury homes, cars, and traveling the world. While this may be how many of the world’s richest people spend their cash, philanthropic billionaires like Bill Gates and Warren Buffet donate over half of their incomes to causes. But just how much impact can their fortunes have on society? Could billionaires solve the world’s problems?
Many of the biggest issues faced today are simply too large and complex for one person, or even group, to solve on their own. No single one person can change the course of climate change or world hunger, for example.
But could the 2,208 billionaires solve the world’s problems together? Or at least, some of them? Could they eradicate issues like credit card debt, homelessness or the rising cost of living? While money can’t buy happiness, the very wealthy may have the capital to spread just a little to someone else.
Could Billionaires Solve the World’s Problems?
Self Lender did the math to see which problems the world’s billionaires could solve if they got together. With an average net worth of $4.1 billion each, the top 500 billionaires have a combined net worth of $5.38 trillion. And there are some major problems that this wealth could solve, including wiping out credit card debt, solving homelessness, and granting healthcare to all. Check it out:
It’s pretty clear that a lot of money goes a long way. Whether or not the majority of the world’s billionaires feel inclined to spend their wealth on others in another issue entirely.
The proportion of cashless transactions varies widely across the globe with some countries, like India, still considered a cash economy. Last year more than 70% of Point of Sale (POS) transactions in India were in cash and just 20% were credit or debit card transactions. Whereas cash transactions in South Korea were only 11% with credit and debit cards making up a staggering 85% of POS transactions. However, data suggests that cashless transactions in India are set to boom over the next few years.
It’s not just India which is expected to see an upsurge in cashless transactions though. If you run a business with an international client base it’s important that you follow the trends in eCommerce and POS systems.
Potential customers will look elsewhere for goods and services if you make it too difficult for them to pay you. During a recent visit to the UK, I was surprised to find that cash is no longer king.
It started before I even arrived in the UK with British Airways no longer accepting cash, of any kind, on their flights. At London Heathrow, one of the world’s busiest airports, traditional cashiers have been replaced with self-service, cashless tills in at least one store.
Worldpay Annual Global Payments Report
Worldpay published their annual global payments report a few days ago and the first thing you will notice is that it’s twice as long as their 2017 report. The 108-page PDF starts with a global summary of the status of eCommerce and POS payment methods.
In 2018 eWallets are expected to account for 36% of online payments and to increase to 47% by 2022. Globally POS payments in cash are expected to fall from 31% to 17% over the same period.
Source: Worldpay Annual Global Payments Report
The Worldpay report goes on to provide data for North America, Latin America, EMEA, and Asia Pacific. The data is then broken down by country. At present, cashless transactions in India are considerably lower than the average for the Asia Pacific region.
“Cash continues to be the primary payment method for point of sale purchases and eWallets dominate for online payments.”
With only an estimated 45% of the population in India currently having access to the internet eCommerce and cashless POS payments have not yet reached the levels of many other nations.
“As internet penetration and the digital economy continues to grow, there will be room for ongoing shift of payment forms.”
Why Cashless Transactions in India Are Set to Boom
In some areas, India is already ahead of many nations when it comes to cashless payments. The Unified Payments Interface (UPI), promoted by the Indian government, is one such example. It allows users to send funds based solely on knowing the recipients mobile phone number.
Traditionally India has tended to use feature phones rather than the more expensive smartphones. UPI works with either type of phone but smartphones are much more user-friendly. Smartphone sales in India continue to grow and IDC announced November 15 that they now match those of feature phones.
More than 42 million smartphones were purchased in India in Q3 2018 with Xiaomi leading the way with 11.7 million units sold in the quarter.
Increased smartphone usage in India will see an increase in eCommerce and cashless POS transactions in the coming years. Worldpay estimates that eCommerce will expand by 21% per year between 2018 and 2022. Smartphone adoption is being driven, in part, by lower costs for internet use.
Pushing down the Cost of Internet Use in India
Mukesh Ambani, Forbes ranked 18th wealthiest man in the world and India’s richest person, is helping to reduce the costs of using the internet in India.
He’s the largest shareholder in Reliance Industries Limited (RIL). Jio, a subsidiary of RIL, has slashed 4G data costs in recent years. Jio offers an annual, pre-paid 4G contract, with 1.5GB of daily data allowance for around $24.
The annual contract brings the cost per GB down to less than $0.05. Previously costs for 1GB of mobile data in India were as high as $2. Jio has also launched 4G feature phones from as little as $20.
With the significantly reduced data tariffs, Jio was able to attract 100 million customers in just three months. They now boast a customer base of more than 250 million customers.
Keep up to Date with Payment Trends
It’s important that business owners know what payment systems their customers have access to and they vary significantly across the globe. For much of the world, traditional debit and credit cards are very popular. Some of the most prestigious cards used by the rich and famous include:
Coutts World Silk card – believed to be favored by the Queen of England
JPMorgan Chase Palladium Visa – the “ex-US President Barack Obama” card
Bank of Dubai First Royale MasterCard – diamond embedded card
American Express Centurion Card – used by Oprah Winfrey and Kim Kardashian
Some of these cards have no credit limits but are often available via invitation only and come with undisclosed perks.
In recent years cryptocurrency cards like Wirex and Revolut have grown in popularity. Many merchants are now accepting cryptocurrency payments on their websites with some incorporating instant, almost fee-free processing.
It might be quite sometime before your cash is refused in India but don’t visit this British pub with only cash in your pocket.
Succeeding in the tech industry isn’t the only way to strike it rich. Self-made millionaire David Choi from St. Louis proved that a brilliant idea can bring in the money in any area, despite competition and lack of resources.
His idea of selling Korean food in tacos from a food truck helped him to build the brand Seoul Taco, currently present in two states, Illinois and Missouri.
Today, he manages a growing restaurant chain with locations in Champaign, Chicago, Columbia, St. Louis, and Chesterfield.
Seoul Taco includes five restaurants, a catering business, and two food trucks, with two more locations to be opened this winter in Chicago.
But things weren’t always smooth for founder and owner David Choi, who started his business with just $18,000.
Selling His Car to Start the Business
David Choi bought his first food truck in 2011, after selling his car and draining his bank account. He explained his decision in an interview:
“I started Seoul Taco at the peak of the recession because I didn’t want to work three minimum wage jobs 100 hours a week. I sold my car, cashed out my bank account and found someone selling a food truck in Philadelphia for $40,000. I had $18,000. He sold it anyway.”
The Korean taco inventor got other $22,000 to invest in his business from friends and family who believed in his idea, as well as in his talent for cooking.
Before starting his own business, Choi had worked in small jobs in the food industry, making pizza, sandwiches, and even working in a Chinese restaurant. According to him, all previous positions helped him manage his food truck better.
David Choi Recouped His Initial Investment in a Few Months
The mix between Korean and Mexican food was a success, and the owner of Seoul Taco soon had to open his first brick-and-mortar location to meet the growing requests from customers.
His winning strategy included, among other things, opening locations in former restaurants. For each of his sites, Choi collaborates with local artists to create the vivacity of urban culture inside the restaurant.
David Choi will open two new restaurants in Chicago this winter. Even if he didn’t have big plans when he bought the first food truck, the culinary entrepreneur now understands the potential of his idea.
“Success would be maybe opening into a third market; I think that would be huge. I want to look into another market that has a similar feel to St. Louis and Chicago, down in Texas or Atlanta. Chicagoland has been really good to us. I think it makes sense to open up a few more there as well. And then possibly another concept; I would like to see that.”
Despite his growing success, David Choi is still a regular young man who watches ESPN Sportscenter, plays the guitar, and likes making Asian-style tacos. At least for now.
In today’s Instagram world lots of people seem to think that showing off expensive things is the same as being rich. Nothing could be further from the truth. Getting rich is all about saving money, not spending it. If you want to make it to millionaire status, it’s time to figure out how to save!
According to research from Credit Suisse’s Global Wealth Report, today there are 42.2 million millionaires out there. Over the last year, that number has grown by 878,000 in the USA, which is around 40% of the new global stock of millionaires.
Millionaires Aren’t the Only Ones That Matter
Becoming wealthy isn’t as difficult as many people think. Younger people have it easier and have more time to gain valuable skills that can make them millionaires.
Entering the ranks of the global wealthy might be easier than you imagine.
Credit Suisse says that to qualify for the richest 10% of the global population, a person needs to have $93,170 in net assets. A person’s net assets are defined as the total value of private assets, which includes real estate, minus any debts.
Entering the top 1% is a little harder, and would require a person have new assets in excess of $871,320.
If this all sounds like a lot of cash, don’t worry. To be in the wealthiest half of the global population, a person only needs assets worth $4,210, which should be pretty easy to come by.
Building Up Your Net Worth
William D. Danko and Richard J. Van Ness co-wrote, “Richer than a Millionaire: A Pathway to True Prosperity,” which shares some of the ideas that help the rich grow their fortunes.
According to a previous work by William D. Danko and Thomas J. Stanley:
“Most people have it all wrong about wealth in America. Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.”
Being happy with your own financial position is a big part of building wealth.
When people show off expensive possessions, like cars or jewelry, they aren’t doing anything to build up real wealth. In fact, the opposite is true.
Are You Really Getting Ahead?
Saving money that can flow into investments is one secret to becoming rich. A big paycheck is meaningless if it is eaten up by rent, high-priced meals, and expensive toys.
Danko and Van Ness found that people who are able to grow their wealth, and become millionaires know how to save their earnings. Surprisingly, some people who have normal jobs are able to build wealth, because they live frugally and make wise investments.
The Mental Game Matters
Developing healthy habits also make a big difference when it comes to making money grow. Think about why people want to “flex” expensive items on the internet. The social media “flexers” are showing-off for other people and ignoring their own happiness.
Una publicación compartida de Blac Chyna (@blacchyna) el
Convincing the social media crowd that you are rich isn’t a good wealth building strategy. It costs money, time, and distracts from activities that could help a person to develop habits that make long-term financial success a reality.
Shift Your Habits for the Better
Great habits don’t happen on their own.
James Clear is an author and researcher. His book, “Atomic Habits,” deals with creating great habits, and sticking with them for the long haul.
For most people getting their habits going in the right direction is the first step in creating wealth and happiness. People struggle to get rid of negative habits, or even realize they have them.
There are many things we can learn from a young age that become almost automatic, and realizing that we are holding ourselves back can involve changing how we view ourselves.
“The greatest threat to success is not failure but boredom.”
This might seem counterintuitive, but his research has demonstrated the need to create positive reinforcement for great habits that are already paying off.
Everyone will have a different set of life-habits that need to be reviewed, and possibly changed. It all starts with looking at how you live and deciding who you want to be.
If you’re spending your time and money trying to impress other people, you probably won’t ever build up wealth, or find happiness.
