Buy it!

Just a short pitch on Martin S. Fridson’s How to be a Billionaire: Proven Strategies from the Titans of Wealth. This is one of my favorite books. Mr. Fridson tells the stories of several American billionaires and outlines the emerging principles of building enormous wealth. Why was this book not written by a billionaire? Because billionaires spend their time making more money, doing philanthropy work, etc.. As you’ll learn in the book, billionaires have a harsh set of priorities and writing a book about how to do what they do usually isn’t one of them. Actually, I think think author has done a better job summing up all the principles than most billionaires could, if they were to write a book. Add to that the biased, image-protecting some billionaires would be tainted by, I think you’ll agree that someone like Fridson is a good angle from which to write. Fridson, like me, sees billionaires and other wealthy business-builders as having a rightful and important role in society, but he also discusses some of the less-popular aspects, such as the need for a business leader to “resist the unions”. I think Fridson provides a pretty accurate picture and tells some good stories along the way.

Fridson points out that pure stock market speculation rarely, if ever, produces billionaire-level wealth, and says that those that do make a bundle with appreciated equity usually do so by buying enough shares to influence the company, then influnce it all the way to great success. My own thought is that, whether by insight or trial-and-error, building massive wealth inevitably comes from building massive value. Owning shares in a corporation is just a vehicle, an organization of purchasing, building, and selling that value.

Attaining wealth through building value is no different, in principle, than fixing up a broken-down car and reselling it, or building a house and selling it. The only difference is what you are selling and the scale. Stock shares allow you to sell the whole company you’ve built all at once, sell it partially, or sell small amounts of stock little by little.

Another thing that I would add is that you must want to attain massive wealth to your core, that is, your subconscious. Humans are strange animals and people often say or act as if they want one thing, but actually want something else on a subconscious level. Subconscious priorities like being too insecure or wanting recognition/popularity more than wealth will get in the way of wealth.

Another important factor is people around you. Few have ever achieved anything great and nobody has become a billionaire without the loyal help of great people. There have been success and wealth-building books and programs in recent years talking about the importance of attracting the right kinds of people. Whatever the perspective, surrounding yourself with honest, loyal, supportive, high-integrity, skilled people will be an extremely important factor in your success. Avoid people who are bad for you like the plague. Seek to the ends of the earth for those good people to share in the rewards and glory of your successes they will help create!

There are also great books out there on business leadership, negotiating and all the other skills and factors that are crucial to your success. Think of “How to be a Billionaire” as an outline and launchpad, from where you can study further each individual principle.

Now there are those that pick up this book and expect a step-by-step manual – a very specific plan on how to get rich. These folks miss the whole point, are looking for something that is impossible, and will certainly never get rich with such misunderstandings. That is, it is impossible to suggest a specific line of business to get into, with a specific strategy to win in that industrial sector, that you can print into a book and will, be valid for a long time and for all who read the book. Think about it, things are always changing – technology, the business playing field, government regulations, and culture. What was hot yesterday may already be a conquered industry now. This book, however, outlines general principles that can be applied 3000 years ago in Babylon, now, and probably into any foreseeable future. That’s the best thing you could ask for, and that’s what this book is.

If you are the type who can gain understanding of important principles and concepts, this book could be, at least, enlightening, and perhaps quite useful in your own pursuit of wealth.

On Amazon.com: How to be a Billionaire: Proven Strategies from the Titans of Wealth