[toptemp]

Originally Posted by F360

lol, give him time

I dont think its luck, but it does play a part. If you can create something everybody wants, and have the means of providing it to them, then you will get pretty rich. For example Bill Gates put a compute in most houses, Apple got everyone wanting an ipod, Sony sold millions or Playstations. They all made millions and millions. Yes, there companies, but the owners got the huge profits

I agree with you. However, having the means of providing it to them is not enough. It goes beyond having the means to doing something and actually 'doing it' effectively-- and that is where many many fail.

Also, if I went in to be the CEO of Apple or Sony, I would be a millionaire (for a little while before I get fired, lol), but I would not be a billionaire. The billionaires are the originators, innovators, inheritors and everyone else that I've missed, lol. I know billionaire status is possible for many individuals; to me, that's not the question-- it's whether or not it's for them and whether they produce at their ability.

[NewHorizons]

Isn't Meg Whitman a billionaire through her stock options at ebay?

[toptemp]

Originally Posted by NewHorizons

Isn't Meg Whitman a billionaire through her stock options at ebay?

She came in very early in the picture. Hence, stock options substituted for the pay she would not be getting. As a result, I would put her in the originator/innovator category, lol.

[toptemp]

Originally Posted by matt byrd

I wouldn't mind taking a stab at this question. However, let me preface my first post by saying that it is great to be on a site where individuals all seem to have some sort of financial intelligence.
Being a billionaire is rough because is difficult because first you have to 1. have the capital to build a multi- billion dollar business, 2. because of competition, taking a large enough market share in any industry is difficult to build a company to that status, and 3. generally by the time a person builds a company that is doing business on a massive scale they have diluted their equity to the point where being a billionaire isn't feasable.
All of that being said, I truly believe if a person dabbles in the right industry it is possible for him to become a billionaire. As for me, I will be very happy-- and probably done working--when I reach the $100 million mark.

This is what I consider luck. On the other hand, if you enter multiple industires and delegate appropriately so that your life isn't consumed in the process, you could pull it off. Thus, it's not about getting lucky with one business that may or not make it and dilluting your equity in the process. Start small, grow bigger, expand like crazy and make massive gains.

[BFTAaron]

Its hard to actualy say what makes one. I would say by no means is it just luck, but indeed it takes planning, risk, and the will to make it happen that will help you to become one.

Alot of people have made their status by building up a business, and then selling it. Usualy for up to 5 years worth of income. Which if you think about it, if the business is bringing in enough, it would be almost possible to think about the billion status. Others start many different business, and build them up. If you get into a niche market, it may be even more possible to obtain billionaire status. So I think it wise not to follow everyones idea as to if you can. Just do your best and know that if you really want it, you just need to be smart, and make good choices. Its like stock market investing. You have to know when to hold on, and then know when to let go. A million dollars isn't anything now aday, and the more small business crop up, and start to take stage, the value of a dollar will get smaller and smaller.

Just stick to your guns, stay focused, and make good choices

[Ashur]

Originally Posted by akula

Interesting question.

A billionaire, by definition is an extreme statistical outlier.

Such outliers are always the product of randomness (i.e. random error). In other words, pretty much in all situations, vast self made wealth is the result of luck (random availability of opportunity) more than skill (i.e. the difference after the point of skill is equlibrium....for every billionaire there is a thousand people who are just as smart and who've attempted the same ventures.).

Direct answer to your question: what would be stopping [me]? It's the draw of life's cards [i.e. bad luck] which would be the first and foremost obstacle...it's either that or not going to enough parties to hook up with the daughter of a billionaire.

In that sense, because luck plays an important role. It's important to be in situations where it's easier to get lucky (compared to other situations). These environmental issues would also get in the way of someone wanting to make a billion dollars.

I highly doubt that wealth creation of that magnatitude is a episode of luck or serendipity. You can be lucky once, twice perhaps. Not one billion times