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Money Making a Difference – Examples of Billionaires Using Their Money for Good

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How billionaires use their money
Image Credit: Tony Hsieh

How many times have we wished to be in the shoes of a billionaire? People often daydream of having a ten digit bank account, and what they’d be doing with it. In an instant, we’d picture luxury yachts, extravagant sports cars, the finest wine and jewellery, and a whole lot of things which are difficult to pronounce. It is truly difficult to separate wealth and luxury.

However, there are a handful of people who have chosen to walk the simpler path rather than flaunt their stature. It is quite remarkable how these powerful people chose to be meek in their different ways.

Let us take a look at how these billionaires have exhibited that being on the Forbes List doesn’t automatically come with a lavish lifestyle.

Empowering others

Humility is also expressed by acknowledging your beginnings and being able to give back. These noteworthy people put “paying it forward” to a whole new level. Azim Premji, chairman of Wipro Limited, is a symbol of austerity.

He is described as a scrooge by some executives with reports of him monitoring toilet paper consumption to save corporate money. However, his 8 billion dollar personal contribution to charity tells us, “he’s no scrooge, he’s Santa.” Would waking up with a billion dollars in your bank account change who you are? These wealthy personas seemed unaffected by their elite status.

Latvian-born self-made billionaire James Richman maintains a low-profile despite making a name and fortune growing generational wealth for himself and people close to the private fund. People close to him know him as someone who understands what it’s like to be on the other end of the spectrum as he does not fail to lend a helping hand to people who need his help.

On one occasion, he reportedly bought an entire parcel of land for a group of farmers who have been tolling the land they live in a remote area in the Philippines. After learning that the group has been working on the farm for decades as he wanted them to feel appreciated and give them a fair chance and continue their work on the land which they ultimately worked hard for and eventually owned.

Chuck Feeney, the co-founder of DFS group, donated 99 percent of his fortune to various charities leaving him with 2 million dollars. His “giving while living” mantra, made it possible for him to do this in anonymity and live a simple life in San Francisco.

Keeping low profiles 

Tony Hsieh, CEO of Zappos, has stayed true to himself despite his increasing monetary value. People close to Hsieh describe him as someone who would be with a dollar in the bank, and being around with people he cares about and cares for him.

Amancio Ortega, fashion retailer tycoon, remains a picture of simplicity despite his 61 billion dollar net worth. He wears the same three piece suit almost everyday, and comfortably eats with fellow employees at the company cafeteria every afternoon.

Maintaining frugal habits

Why would someone choose to buy something cheaper, if he could afford something more expensive or perhaps better? These types of people are driven by their priorities.

David Cheriton, with a $1.3 billion net worth, openly disagrees with lavish spending. His recent purchase of a 2012 Honda Odyssey is testament to that.

Similarly, Warren Buffett, CEO and Chairman of Berkshire Hathaway, still drives himself to work daily in his gold Cadillac. He routinely picks up his breakfast at McDonald’s, a choice from his three favorites, the most expensive of which is $3.17.

While Christy Walton, widow of Walmart heir John T. Walton, with a net worth of 7.3 billion dollars, chose to raise his son in National City, California. She did so to provide her children with a normal life, and being primarily a blue-collar population, National City helped that cause.

Not blinded by money 

Money, throughout time, has been the instrument of power in society. As such, people tend to be blinded, fall in love and be obsessed by it. These humble billionaires, through example, has shown that man makes money, and not the other way around.

Ellie Martin is the founding coordinator for Startup Change Group. Her works have been featured in Entrepreneur, Business Insider, Girls in Tech, among others. You may connect with her on Twitter

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Motivation

From Couch Potato to Go-Getter: A Step-by-Step Motivation Plan for Everyone

By understanding what motivates you, you can turn your dreams into reality

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How to be motivated
Image Credit: Midjourney

Are you tired of feeling like a couch potato? Do you want to transform your life and become a go-getter? You’re not alone! Many people struggle with motivation, but the good news is that change is possible. (more…)

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Motivation

Why You’re Failing to Achieve Your Goals and How to Fix It Now

Understanding motivation is crucial because it’s the cornerstone of success

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Why motivation is important to success

Feeling stuck? Lost in a sea of goals, but lacking the drive to pursue them? It’s time to shift gears and reignite your motivation! Picture this: From stalled to soaring, your journey awaits.  (more…)

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Motivation

Here’s How Self Motivation Can Be the Bridge Between Your Dreams and Realities

Self-motivation is the ability to motivate yourself without the influence of others

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how to become self motivated

Self-motivation is the ability to motivate yourself without the influence of others.  It is the ability to move forward with your convictions and beliefs despite facing several stumbling blocks on your way. (more…)

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Motivation

8 Ways to Stop Procrastinating and Be More Decisive

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Stop Procrastinating

Tackling Procrastination and Indecisiveness

Hi, Joel Brown here. As the person behind Addicted to Success and Mind Strong, I’m often asked about tackling procrastination and making swift, effective decisions. It’s a common struggle in today’s world, where distractions are endless.

Procrastination often creeps in when we’re bombarded with social media notifications, breaking news, and the hustle of daily life. This leads to a fear-driven indecision, where we’re paralyzed by the thought of failure or judgment.

 

Here’s a video breakdown of how to stop procrastinating and be more decisive if you are more of a visual person:

 

Embracing Speed and Momentum to Stop Procrastination

One of the most impactful lessons in my journey is understanding the role of speed in overcoming procrastination. A mentor of mine, a highly successful individual, always emphasized:

“Success loves speed, and money loves momentum.”

This principle is crucial in combating procrastination. It’s about seizing opportunities quickly, not just for financial gain, but for the invaluable experiences and connections they bring.

 

Understanding Analysis Paralysis: A Key to Overcoming Procrastination

A major hurdle in decision-making is what’s commonly known as analysis paralysis, a significant form of procrastination. It happens when our decision-making process, governed by the prefrontal cortex, gets overwhelmed. To break free from this form of procrastination, try calming techniques like deep breathing. It’s surprising how such simple steps can clear a cluttered mind and help you move past procrastination.

 

The Long-Term Effects of Procrastination and Indecision

Procrastination isn’t just about putting off decisions; it can lead to a reduced sense of life satisfaction over time.

In a conversation I had with Tony Robbins, we discussed how the quality of our lives hinges on the quality of our decisions.

Therefore, overcoming procrastination and indecision is vital for a fulfilling life.

 

My Top Strategies for Beating Procrastination

  1. Seek Guidance from the Experienced: To combat procrastination, connect with people who’ve achieved the goals you’re aiming for. Their experience can be a guiding light when you’re stuck in indecision.
  2. Use Deadlines as Anti-Procrastination Tools: Setting deadlines is a powerful way to break the cycle of procrastination. They create a sense of urgency that pushes you into action.
  3. Accept Imperfection to Move Past Procrastination: Understand that no one is perfect, and that includes you. Accepting this can alleviate the pressure that often leads to procrastination.

 

Identify Your Procrastination Type to Find Solutions

Procrastination manifests in various forms. I’ve developed a quiz (find it at mindstrongacademy.com/quiz) to help you identify your specific type of procrastination. Understanding your personal procrastination style is a crucial step in addressing it effectively.

 

Additional Tips on Making Quality Decisions and Beating Procrastination

When it comes to decision-making, it’s important to not get too bogged down in analyzing pros and cons. While analysis is important, excessive scrutiny can lead to procrastination. Trusting your intuition often plays a crucial role in breaking free from procrastination.

 

Handling Major Life Choices Without Procrastination

For significant decisions in life, whether in your career or personal relationships, procrastination can be particularly challenging.

To address this, break down these big decisions into smaller steps. Assess the potential outcomes realistically to understand that often, the fear of a negative outcome is more intimidating than the actual consequences.

 

Conclusion: Your Journey Away from Procrastination Begins Now

To wrap up, remember that overcoming procrastination and indecision is about understanding your own patterns, seeking wise counsel, setting deadlines, and embracing your imperfections. It’s time to start making those impactful decisions and enjoying the journey of life.

Whether it’s through the Mind Strong Academy or my procrastination quiz, I’m here to guide you on your path to decisive action.

I believe in your ability to conquer procrastination and live a life of purposeful decisions.

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