You may be astonished to learn that a 13 year old boy from Finland has become a billionaire at the age of 13. His name is famous as being one of world’s youngest billionaires. Think about it, to have a net worth over 1 billion dollars at the age of 13.. what a wonderful accomplishment.
Have you ever wanted to know how a 13-year old can become a billionaire? Well now you can. I am going to reveal everything that is needed to become a billionaire as a kid. How would you like to be as rich as Bill Gates? And as powerful as Barack Obama? In this article I will tell you exactly what you need to do in order to become a billionaire at the age of 13.
Saving money is different from investing money
Saving is simply putting your money in accounts such as a savings, checking, or money-market account at a bank. It may also include cash investments such as short-term CDs (Certificate of Deposits). Having savings also means that your money is extremely safe and can be accessed quickly and easily. Investing, on the other hand, is the process of using your money to buy assets such as stocks, bonds, real estate, and other investments that should grow in value over a longer time period. Investing your money has historically been the better performer over one’s lifetime.
Embrace compound interest
One of the greatest mathematical discoveries of our time is compounding. Compounding is when your earnings from your savings and/or investments create additional earnings. In other words, compounding is when your earnings generate earnings. As a matter of fact, compounding makes your money grow exponentially! The younger you are, the more time you have for compounding to do its job.
Start investing early
This point is the one Zisa is most passionate about. It was his driving force for writing his book. The sooner you begin to invest your money, the more time you have to allow the effects of compounding to produce long-term wealth. Consider this: If you start investing $3,000 per year at a 6% annual growth rate at age 25, you will have approximately $680,000 by age 65. If you do not start until age 35, you will have about $260,000. Time has the most significant effect on generating long-term wealth. Start investing now.
Do not buy things you can’t afford
We live in a society that wants things and wants things now. There is nothing wrong with spending money that you have, but everything is wrong when you spend money you do not have. Spending money you don’t have leads to debt accumulation which can lead to financial disaster.
Mike McDonald
This Canadian with a knack for gambling started toying with online poker at the age of 15. He was feeling pressured to get a job by his parents, but he didn’t want to do the usual teen gig. He was a millionaire as a teen and today is worth more than $5 million.
Matt Wegrynz
Buying and selling domain names is what made this entrepreneur so wealthy. He started at 17, with some of his best deals going for six figures.
It’s hard not to feel a bit competitive after reading about all these young entrepreneurs. However, try to take away at least this one important lesson from the list. It’s never too late–or early–to chase your dreams. Anything can happen with a great idea, hard work, and creativity. These teens are living proof.
Carl Churchill
The British entrepreneur started his first Web design business at age 12. Today he’s worth around $10 million, but he made his first at 19. Dubbed the British Bill Gates, he’s also a philanthropist and venture capitalist.
Patrick Collison
An Irish teen millionaire, Collison began winning numerous young scientist prizes at age 14. He founded Shuppa with his brother, moved to California, and made his first million by the time he was 19–bringing his brother along for the lucrative ride.
Gary Martin
This Irish early entrepreneur began running his own nightclub at the tender age of 15 (the drinking ages in the U.K. are vastly lower than in the U.S.). By the time he was 17, he had moved on to property management. By 18, he was worth $20 million and counting.
Michael Furdyk
He founded TakingITGlobal at 17, and now Furdyk spends his time growing his business in more than 200 countries. He’s also a public speaker, a consultant, and a regular guest on some of the most popular talk shows in the country.
Akshay Ruparelia
Age: 19
Estimated Net Worth: $15 million
Akshay Ruparelia is a British entrepreneur who turned his simple yet powerful idea into a multi-million-pound business at just the age of 19. In December 2016, he established Doorsteps.co.uk, an online estate agency that allows its clients to purchase houses for the lowest possible commission. He sold his first home while preparing for his school exams.
The agency hires freelance property consultants on a contractual basis depending on the number of properties they have in hand. This eliminates the need for traditional agents and significantly reduces their operational costs. Doorsteps.co.uk, at the moment, is valued well over £12 million and currently is the 14th largest estate agency in the UK.
Valentina Paloma Pinault
Age: 12 Years
Estimated Net Worth: $12 million
Born to actress Salma Hayek and billionaire CEO of the fashion company Kering, François-Henri Pinault, the ten-year-old Valentina Paloma Pinault is expected to inherit a wealth of about $12 million. However, many believe that she is in line to inherit far more than that.
Ryan
Age: 8 years
Estimated Net Worth: $11 million
YouTube is now bigger than ever and has become somewhat a proven platform for the next generation of online celebrities. Many of the YouTube stars now have a larger fan following than T.V actors. And perhaps the youngest of them is 6-year-old Ryan, who has made quite a fortune by reviewing new toys and playing with them.
For millions of his young followers, he is not just an internet celebrity but a true friend. Since the age of 3, Ryan’s parents have given most of their time to him and making new videos. His channel Ryan ToysReview has amassed more than 17 million subscribers.
Dannielynn Birkhead
Age: 13 Years
Estimated Net Worth: $10 million
Dannielynn Birkhead is an 11-year daughter of a late actress, model, and television personality Anna Nicole Smith. Like her mother, Dannielynn is on her way to becoming a successful model. One of her most notable campaigns was in 2013 as a face of Guess Girl’s Spring line. It was a special event for Dannielynn since her mother had also modeled for this company.
Immediately after her birth, Dannielynn’s paternity claims caught media attention. Several high profile personalities such as Howard K. Stern, Frederic von Anhalt, and Larry Birkhead claimed to be her father along with Smith’s long term bodyguard Alexander Denk. A formal DNA test was able to establish Larry Birkhead as her father.
In 2008, two years after her mother’s death Dannielynn has officially declared the sole heir to Smith’s possessions, which then worth over $700,000.
Conclusion:
No doubt that every human being wants to get rich. Wherever you look there are people that are trying to be rich. They want money, power, fame and everything that goes with it.We’ve all heard of the rich somebodies even some of us have some knowledge about billionaires.