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"A truly enlightening work filled with fundamental strategies that have worked for others.Martin Fridson documents the essential principles inherent in every billionaire's success."
-Gordon Bethune
Chairman of the Board and CEO
Continental Airlines
Self-made billionaires all have one thing in common: they excel at making money. But hard work, thrift, and focus are only part of the story-you hold the rest of it in your hands. How to Be a Billionaire is the first comprehensive picture of the real strategies and tactics that built the great business fortunes of modern times. Packed with engaging accounts of titans like Ross Perot, Richard Branson, Phil Anschutz, John D. Rockefeller, Wayne Huizenga, Bill Gates, J. Paul Getty, and Kirk Kerkorian, How to Be a Billionaire will show you principles that can increase your wealth and business acumen to the mogul level.
How to Be a Billionaire looks at the careers, the methods, and the minds of self-made billionaires to distill the common keys to titanic accumulations of wealth. Each chapter explores a specific strategy and brings it to life through extended profiles of past and present masters of the art of making money.
Do you think innovation is the best way to prosper in business? Sam Walton, founder of the Wal-Mart retail chain, would tell you otherwise. The key to Walton's success was supreme devotion to copying the methods of other successful discounters.
What could be less complicated than buying low and selling high? But the ascent of
Warren Buffett, John Kluge, and Laurence Tisch to billionaire status depended on much more than an eye for good bargains. And if you're looking to thrive by outmanaging the competition, look no further than Richard Branson. When the founder of Virgin Atlantic needed to reduce his staff by 400 people, 600 volunteered to take off a few months on sabbatical.
How to Be a Billionaire identifies the methods, beliefs, and behaviors every businessperson must understand and emulate to reach the pinnacle of riches. A manual for success that can benefit every aspiring tycoon, it is a fascinating read for anyone intrigued by wealth and how it's gotten.
Praise for HOW TO BE A BILLIONAIRE
"How to Be a Billionaire offers fascinating insight into the subject of building wealth. As a result of his exhaustive research, Martin Fridson is able to explain the wealth-creation process from a unique perspective. As the reader will discover, there is no single formula for success, but there are certain categories into which these concepts can be placed. My personal advice is to remember the words of Winston Churchill who said, 'Success is the ability to go from one failure to another with no loss of enthusiasm.'"
-Ross Perot
"Martin Fridson has created the ultimate roadmap to the American Dream. He comes as close to extracting a formula for the acquisition of wealth as any book I have ever read."
-Jeff Sagansky
CEO, Paxson Communications
"Martin Fridson's book has a number of very insightful and thoughtful analyses, something you don't pick up in many business schools."
-Philip F. Anschutz
Chairman and CEO, The Anschutz Corporation
"How to Be a Billionaire is a powerful arsenal of dead-on strategies for increasing your personal wealth and business acumen. Marty Fridson details the tactics of self-made billionaires with great intelligence and insight. I wish this book had been available when I was starting my career."
-Spencer Hays
Founder, Tom James Company
Executive Chairman, Southwestern/Great American, Inc.
Chairman, Athlon Publications
- Sales Rank: #101799 in Books
- Published on: 2001-05-01
- Released on: 2001-05-09
- Original language: English
- Number of items: 1
- Dimensions: 9.02" h x .88" w x 6.00" l, .98 pounds
- Binding: Paperback
- 256 pages
Amazon.com Review
Forget Regis Philbin's Who Wants to be a Millionaire. Martin Fridson's How to Be a Billionaire sets its sights much higher, and therefore seems an even more appropriate (if somewhat less realistic) goal for today's tycoon wannabes. There are some 200 individuals in the U.S. alone who now breathe this rarefied air, writes Merrill Lynch managing director Fridson, and no reason why those who adopt their philosophies cannot join them. To that end, he studied more than a dozen of the self-made super-rich, including Sam Walton, Bill Gates, Wayne Huizenga, and Warren Buffett. He then synthesized their techniques for success into nine strategies: take monumental risks, do business in new ways, dominate your market, consolidate an industry, buy low, thrive on deals, outmanage the competition, invest in political influence, and resist unions. Dividing profiles of these high fliers into chapters focused on their prevailing principles, he shows how each played a critical role in the growth of an empire. Walton didn't invent discounting, for example; he tweaked existing practices for the late-20th-century marketplace. Likewise, Huizenga didn't start individual companies but integrated existing competitors into powerhouse organizations. While Billionaire may not be a true self-help manual, it does offer a fascinating glimpse at tactics used by those who've played the game and won. --Howard Rothman
From Library Journal
Fridson (It Was a Very Good Year), managing director at Merrill Lynch and Co., presents a fascinating analysis of how well-known billionaires accumulated their wealth. He focuses on explaining the key strategies that lay listeners can use in building their own strong portfolios. Among the tycoons featured are Ross Perot, John D. Rockefeller, Bill Gates, Warren Buffett, and Sam Walton. The chapters are organized around the different methods used, while throughout are interwoven common principles, such as hard work, thrift, doing business in a new way, dominating a market, buying low, investing in political influence, and resisting unions. While many wealth-building strategies will be recognized, other unique approaches, such as Walton's supreme devotion to copying the methods of other successful discounters, are revealed. Fridson also places the magnates within their particular industry by adding brief synopses of the business arenas and trends in which these successful entrepreneurs made their fortune. The solid narration by Johanna Ward maintains interest throughout this substantial addition to the financial literature; it stands apart in a crowded genre. Highly recommended for all public libraries.
Dale Farris, Groves, TX
Copyright 2002 Reed Business Information, Inc.
Review
"How to Be a Billionaire offers fascinating insight into the subject of building wealth. As a result of his exhaustive research, Martin Fridson is able to explain the wealth-creation process from a unique perspective. As the reader will discover, there is no single formula for success, but there are certain categories into which these concepts can be placed. My personal advice is to remember the words of Winston Churchill who said, 'Success is the ability to go from one failure to another with no loss of enthusiasm.'" -Ross Perot "Martin Fridson has created the ultimate roadmap to the American Dream. He comes as close to extracting a formula for the acquisition of wealth as any book I have ever read." -Jeff Sagansky CEO, Paxson Communications "Martin Fridson's book has a number of very insightful and thoughtful analyses, something you don't pick up in many business schools." -Philip F. Anschutz Chairman and CEO, The Anschutz Corporation "How to Be a Billionaire is a powerful arsenal of dead-on strategies for increasing your personal wealth and business acumen. Marty Fridson details the tactics of self-made billionaires with great intelligence and insight. I wish this book had been available when I was starting my career." -Spencer Hays Founder, Tom James Company Executive Chairman, Southwestern/Great American, Inc. Chairman, Athlon Publications
Most helpful customer reviews
31 of 32 people found the following review helpful.
An Excellent Starting Point!
By A Customer
Mr. Fridson has clearly dissected for us all the possible ways of achieving a net worth beyond a billion. The book is written in a clear, concise manner. It's almost like a tree diagram, if you will. Meaning the goals are like the nodes of the tree and the pathways to get to the goals are like the interconnections in a tree diagram.
He has backed up each section and node with examples of individuals who have travelled those paths such as H.L. Hunt, Ross Perot, Sam Walton, John D. Rockefeller, Bill Gates, Paul Getty, and Warren Buffet just to name a few. This book is an extremely good starting point if you would like to reach the top ranks in net worth. As the author correctly points out, we are lucky to have such a book in existence today, since even a decade ago people were not lucky enough to have a powerful source of information at their disposal.
A word of caution for the individuals in the investment field: Mr. Fridson points out and proves that to amass billions just by mere investments is not possible. He proves that to achieve billions in the investment field, one must acquire a substantial stake in a company and control the management and the direction of the company as a whole. This is precisely what Warren Buffett has accomplished (in despite of the common myth that he is just an investor).
The book is concluded in what I would say the most beautiful chapter. This is where we realize that tenacity and perseverence are traits ascribed to the great fortune builders. More than loving the money, self-made billionaires love the pursuit of money. We learn here that ordinary efforts and conventional approaches do not produce extraordinary results. One needs to do things differently and persistently to outmanage the competition.
To sum up, this is the greatest book (if not the only one) to teach us the pathways to amass billions and leaves the choices to us as to which path we like to follow to get there.
Good Luck!
Steve.
7 of 10 people found the following review helpful.
This book cuts to the chase!
By nervousfarter
How To Be A Billionare is a book that doesn't bore you with biographies on celebrity businessmen or feed you a bunch of new-age psychobable. With chapters on how to influence politicians and deal with unions, this is a must read for anyone serious about getting rich.
25 of 28 people found the following review helpful.
A Thought Provoking Kick in the A$$
By Kevin Kingston
How to be A Billionaire, by Martin S. Fridson
Martin starts out with several fundamental strategies:
* Take Monumental Risk
* Do Business in a New Way
* Dominate your Market
* Consolidate an Industry
* Buy Low
* Thrive on Deals (my favorite)
* Out-manage the Competition
* Invest in Political Influence
* Resist the Unions
And key principals:
Pursue the Money in Ideas
Rules are Breakable
Copying Pays Better Than Innovating
Keep on Growing
Hold on to Your Equity
Hard Work is Essential
Use Financial Leverage
Keep the Back Door Open
Make Mistakes, Then Learn from Them
Frugality Pays
Enjoy the Pursuit
Develop a Thick Skin
I can tell you first hand that these concepts and strategies are key to growing a business and creating wealth. While building a real estate holding company with $25,000,000 in assets in less than 5 years many of the concepts in this book were a big help.
Take this excerpt which illustrates the point of being tough, having thick skin and self confidence:
"In a classic confrontation over Icahn's hostile bid for Phillps Petroleum, Morgan Stanley investment banker Joe Fogg declared the proposal preposterous. "What the hell do you know about the oil business?" he demanded to know. "You don't understand, Joe," Ichan calmly replied, "I'm not here for an interview"
I wend out and bought, "King Icahan: The Biography of a Renegade Capitalist" by Mark Stevens as soon as I read those lines.
There are several other great quotes, stories and examples for the business minded to further explore and tuck away in there mental business toolbox.
By Kevin Kingston, Author of: A 20,000% Gain in Real Estate
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