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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

Motivation

The Importance of Motivation in the Concept of Sociology

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All my childhood, I studied hard and got good grades because I was motivated to escape my mother’s disappointment and wrath on failure. Others in my class were motivated by their desire to excel and get into a good college. Still, others were doing it to maintain their social status and to be recognized as excellent students. The word “motivation” holds a different meaning for different people, as what motivates you may not be sufficient for me and vice versa.  (more…)

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Motivation

20 Science-Backed Ways to Stay Motivated (Infographic)

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Motivation is something we all strive to have, but can also be one of those feelings that’s hard to keep. Whether we’re attempting to reach a new fitness goal or trying to stay motivated in our role at work, sometimes that motivation just isn’t there. You feel motivated for a while – you’ll listen to podcasts, read books, keep yourself accountable – but then it’s lost. You feel so much energy at the start, then feel yourself slowly losing that inspiration. Don’t worry, you’re not alone. (more…)

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Motivation

How To Create Everlasting Motivation To Achieve Your Goals

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If you’d like to learn how to consistently motivate yourself so you can achieve any goal you want, sign up for the free 90-Day Master Class hosted by the founder of Addicted2Success.com, Joel Brown.


People are always waiting for motivation to strike them before they start working on their goals. However, waiting for motivation to come to you before you start working is an unreliable method if you want to consistently work on achieving your goals. (more…)

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Motivation

8 Things You Can Do Right Now to Get Your Motivation Back

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Welcome to our new normal. A time in our lives that a year ago we certainly didn’t see coming that most of us probably wouldn’t have chosen for ourselves; but here we are. As the days away from each other carry on and more and more bad news comes our way, it’s easy to lose your motivation and waste energy doing things that aren’t helpful like worrying and fighting with people on the internet instead.

Nearly half of Americans report the coronavirus crisis is harming their mental health, according to the Washington Post. While many of us had routines set up to deal with stress in the past, the stress we are facing during this time is unlike anything we’ve experienced before. It’s easy to find yourself in a downward spiral, and that’s the most challenging time to stop the momentum and turn things around. If that’s the case, keep it simple and start to reach for little things to help you feel better and climb your way out.

Here’s a reminder of a few simple things you can do right now to start getting positive momentum going your way:

1. Find someone who was in a similar place and made it to the other side

Whether you’ve been unmotivated to workout, eat healthy, make sales calls or simply do anything, you can find someone who has been there and made it to the other side. Look up some great TED talks, go on YouTube and look up people that motivate you, google them to find their websites. There are short speeches and much longer talks all over the internet, you just need to find someone who you relate to that speaks to you.

2. Do something that you love

When we’re unmotivated, it’s easy to get out of the habit of doing what we love. Sometimes just getting out of bed or away from the tv feels like a chore. Think back to a time in your life when you felt great – what were you doing? What do you absolutely love to do that if you had the time, you would do all day and not realize any time had passed at all? 

Figure out a way to do whatever that is, or a modified version of it if it is something that you aren’t able to do at the present time. Spending time doing what you love will get your mind off of anything that is wrong and allow you to find inspiration.

“If something is important enough, even if the odds are stacked against you, you should still do it.” – Elon Musk

3. Don’t overcomplicate it

Keep it simple. When we’re stuck in a rut, we’ll give ourselves every excuse to not do something. Say you’ve gained some weight; you might tell yourself you need to find the perfect trainer and wait until you have time to cook your meals from scratch each night before you do anything else. Stop trying to overcomplicate it and keep it simple by finding one thing you can do right now, however small that may be. You don’t have to wait until the timing is perfect and the stars align for you to start moving in the direction you want to go.  

4. Get up and get moving

This is probably the last thing you want to do right now, but once you are up and moving, your blood will start flowing. The hardest part is getting started. Day one, get up and do anything to get moving. This is the hardest day if you haven’t in a while because getting up is really the hardest part. Day two, do a little more. Once you start, you’ll build momentum and get back in the habit.

5. Reset your focus

It’s so easy for worry to set in and for our minds to wander to places of what we can’t control. This is not motivating or helpful and we always have a choice to redirect our attention. There is always something we can do right where we are, so bring your focus to the solution instead of the problem and figure out the next step of what you can do. 

One step at a time. Step one, take your attention away from what you can’t control and what you can’t do. Step two, ask yourself questions like “What can I do?” and see what comes to mind. Follow through with the answers you find.

6. Listen to your favorite music

Not much can lift our spirits and put us into a positive vibration more than our favorite music. Feel free to sing along. Find a song that pumps you up and make that your theme song. Put it on anytime you feel down or unmotivated.

7. Expand your knowledge

“In times of change, the learners will inherit the Earth, while the learned find themselves beautifully equipped to deal with a world that no longer exists.” Quote by Eric Hoffer. In times of change, there is great loss but also great opportunity. Continually learning opens you to new opportunities and leads you to paths you may not have otherwise found.  

“Work like there is someone working twenty four hours a day to take it away from you.” – Mark Cuban

8. Meditate

If you’re already a meditator and got away from it, take some time to come back to it. If you’ve never tried, it can be as easy as setting a timer for five minutes (or less, feel free to start with one or two minutes) and focusing on your breath. Listen to the inhalations and exhalations. Silently say to yourself “in” as you inhale and “out” as you exhale. Even taking a few minutes to do this can help you to calm down and allow your mind to refocus.

When we’re unmotivated, our momentum starts moving in the other direction. Slow down that momentum by trying one of the ideas above. Once you’ve slowed down the momentum, get it moving in the right direction and you’ll be well on your way.

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