Imagine living in a high-end building that’s worth a million dollar, using the fanciest cars, traveling across the globe every day. It’s stress-free.
However, it’s easier said than done. Despite the challenges, even the wealthiest people in the world never lose hope to reach their dreams, help others, and become an inspiration to many just like Bill Gates.
As one of the wealthiest man on earth, Bill Gates is known as the founder of Microsoft Corporation. Most people envy him for his achievement. It’s no wonder why he became a motivation for people of all ages. But how did gates become rich?
He refused to take venture capital
Gates’ refusal to engage in venture capital was one of the reasons why he became one of the richest men alive.
It’s true that some reputed internet providers now trade shares for successful venture capital investments. The cash enables them to establish substantial businesses before they get worried about becoming profitable.
Twitter, Facebook, and Google are a few examples. The main downside is that when they need to pay their investors, they don’t have much left. On the contrary, Mark Zuckerberg emerged well with approximately 28 percent.
Before Microsoft went public, Bill Gates mainly owned 45 percent of his company. If Gates hold on to his stake, he would be worth $193 billion today.
The point here is that Gates refused venture capital to achieve a faster expansion. While his rivals Ashton-Tate and Lotus Development went public to acquire piles of cash, he tried to avoid it.
Cascade Investment LLC
After the anti-trust case, Gates began removing himself from Microsoft. In January 2000, he stepped down as CEO and worked part-time jobs in 2006 although he remained the chairman till 2014.
After a long run as the richest man in the world from 1995 to 2007, he has been devoting his life to charitable works. What’s surprising is that his net worth has doubled, bringing him back on top of the ranking. Thanks to his Cascade Investment LLC.
Most importantly, Bill Gates remains dedicated to achieving his goals. For those people who want to succeed, perseverance and other good qualities are a key.