Why do billionaires want to make more money?

Discussion in 'Economics' started by Debaser82, Oct 4, 2010.

  1. Consider my true example. I know a reputed and experienced forex manager who has been paying for past 10 years average profit of +35% per annum/year. I want to invest in managed forex account with this forex manager but minimum investment is $100,000. At present I do not have $100,000 so I cannot invest. I am waiting for money from my real estate business then only I can invest with my forex manager but due to global financial crisis the real estate business worldwide is in a bad situation.

    So here, I know of a business opportunity which will earn me 40% to 50% (maybe 100%) profit per year but I cannot invest due to lack of money. Now if a billionaire or millionaire knew about this forex manager he would have invested "big money" immediately and would be earning 40% to 50% per year. Whereas I am just watching other people earn money.

    So you need money to earn more money.
     
    #21     Oct 4, 2010
  2. Excellent posts.
     
    #22     Oct 5, 2010
  3. In spite of stereotypes most acquire wealth by providing a better product or service to the public. You could say they have an edge on the marketplace. They will continue to make money until they lose that edge.

    If you are a Walton your stock value will continue to grow as long as Wal-Mart continues to succeed. Same for Dell, Gates and many others.
     
    #23     Oct 5, 2010
  4. they are motivated to become successful and then even more successful, and money is the most convenient and universally accepted measure of that.

    these people have something to prove, too. some of them grew up in poor or middle-class families, and they want to show the world their greatness and ability to overcome adversity.

    ordinary folks won't understand because ordinary folks don't have the same drive and ambition. ordinary folks are striving for financial security; billionares strive for something beyond that.
     
    #24     Oct 6, 2010
  5. heech

    heech

    Why did Michael Jordan come back after already winning three NBA championships?
     
    #25     Oct 6, 2010
  6. TraDaToR

    TraDaToR

    Exactly. I love to hear " I trade to retire at 40", "I don't want to stay glued behind screens all my life"or "if it wasn't for the money, I would be doing more interesting stuff"...LOL. Continue like that, you'll see what kind of billionaire you will make.
     
    #26     Oct 6, 2010
  7. drcha

    drcha

    Yes, it is the game.

    Think of your own avocation, trading. There are many who say they would trade even if there were no money in it. I won't go that far, but I will say that I would still trade even if I did not need to ever make another dime. It's a way of keeping score--not necessarily with others--maybe even just with yourself.
     
    #27     Oct 6, 2010
  8. The only desire i have ever had to make $$$ was to pay for my toys and travel. That is whatr I like about trading. I can shut it down and go hunting or flyfishing or skiing etc. I like to ski, scuba dive, sail, hunt and flyfish the planet. When I was younger I would trade and make a bundle and then take the winter off and ski every day. I'd go and ski Breckenridge, Winter Park, Mammoth, Park City. I did that for 10 years + while living @ Tahoe and having a full season pass at Alpine meadows and Squaw Valley. Now I am older and I go chase fish around the planet with the flyrod in tropical locales and scuba dive. It takes money so I work but I get in my play time and plenty of it. It is sick/ sad that some folks have no hobbies or interests or athletic activities.

    oh yeah. I don't need or want a billion dollars. I have more money than I can ever spend in 10 life times. I like enjoying the outdoors and being on the ocean or a ski slope rather than in my office.
     
    #28     Oct 6, 2010
  9. kxvid

    kxvid

    Un huh. You can never have more money than you can spend. Stop hyping your life, it can't be all that great as I heard no mention of a broad.
    &Did you get to old to skii or what? You're not a true skiier unless you've gone heli skiing in argentina in what is the summer in the northern hemisphere. I know folks that have done that are older than you.
     
    #29     Oct 7, 2010