At a Glance
Becoming a billionaire is a dream that many of us share, but the path to achieving it can seem daunting and out of reach. However, by studying the habits and practices of successful billionaires, we can learn valuable lessons and implement them in our own lives.
Here are 10 clever habits of billionaires you can start doing right away to help put you on the path to success.
Wake up early like Jeff Bezos
Billionaires are known for being early risers, with many starting their day as early as 4 or 5 am. By waking up early, you can accomplish more in the day and get a head start on your goals. It should not be surprising that many of the world’s most successful and wealthy people, like Jeff Bezos, stress the importance of starting your day early after a good night’s sleep.
On average, most billionaires wake up around 5:30 am, according to interviews conducted by Rafael Badziag. Billionaires swear that it makes them more productive throughout the day and more energetic to take on their tasks. Many also choose to go for a run or some other form of exercise when they wake up.
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Set clear and specific goals like Jack Dorsey
Billionaires are goal-oriented individuals who set clear and specific objectives for themselves. Goals should not be broad or vague but clear and specific. Billionaires have daily, weekly, monthly, yearly, and longer-term goals they plan to meet. Rather than having vague ideas of what they might want to accomplish, they have specific, quantifiable goals that they know exactly what to do to get there.
$198.4 billion
is the net worth of the world’s richest man Bernard Arnault, the CEO, and chair of LVMH.
FinFact
Read and educate themselves constantly like Warren Buffet
Billionaires are voracious readers and lifelong learners who are constantly seeking new knowledge and information. Warren Buffet has said he spends 80% of his day reading. Whether it be industry magazines, the news, or just novels, the desire to learn is what makes billionaires so successful.
Mark Cuban, a famous investor, spends three hours a day reading to learn about the industries he works in. As they are so routine-focused, they often read at the same time every day and follow a strict schedule.
Surround themselves with successful people and loved ones like Mark Cuban
Billionaires surround themselves with successful and accomplished people who can provide valuable advice and mentorship. Surrounding yourself with inspiring people can be crucial for your long-term success. However, you also need to spend time with family, friends, and anyone you care about to keep yourself grounded. Mark Cuban tries to keep his weekends closed off with family, where they act as “normal” as possible.
Have a positive and resilient mindset like Amancio Ortega
Billionaires possess a positive and resilient mindset, which allows them to overcome obstacles and setbacks. They are constantly looking for places to innovate or start something new. Amancio Ortega, the founder of Zara, says that “success is never guaranteed.” He emphasizes that complacency is one of the worst traits you can have as an entrepreneur and that it is crucial to look for new opportunities.
The importance of consistent growth is only possible with a positive and resilient mindset. Billionaires certainly have tough days and setbacks, but they choose to move forward rather than letting them get them down.
Give back to the community and support charitable causes like Richard Branson
Billionaires are known for their philanthropy and their support of charitable causes. Plenty of billionaires have started foundations to give money back to their local communities or causes they believe in. Richard Branson has pledged $3 billion to help fight climate change over the next ten years. Bill Gates founded the Gates Foundation, which helps fight poverty, disease, and inequity worldwide. MacKenzie Scott, the ex-wife of Jeff Bezos, is famously giving away her money as quickly as she can to charities and causes around the world.
Incorporate physical activity like Bill Gates
Ask any billionaire, and they will tell you the importance of staying healthy. No matter how old someone is, if they are this successful, they likely have a regimented exercise and diet. This doesn’t mean that billionaires spend all their time in the gym. Many like to play sports, which help them think clearly and become more disciplined and persistent. Incorporating sports into your daily routine can be very helpful in business.
Many billionaires also meditate to improve their mental health. They stay away from smoking or alcohol and keep healthy diets.
Map out your day like Elon Musk
Elon Musk schedules each of his daily activities in five-minute blocks. Making a plan for the day and sticking to it reduces the time it takes to figure out your next steps or get distracted and flustered by new obligations.
When planning, many billionaires prefer to schedule important meetings at the beginning of the day when people are fresh and alert. You can also schedule a specific time of the day when you feel most productive to tackle the most difficult tasks.
Spend wisely like Mark Zuckerberg
When you think of Mark Zuckerberg, you probably don’t imagine him in a suit and tie but in jeans and a sweatshirt. Many billionaires spend only when it is necessary and do not see the point in showing off a certain kind of lifestyle. Of course, this is not the case for all billionaires, but being wise with spending habits allows them to retain money and continue investing it.
Related: 5 Things Billionaires Do Differently with Money
