Celebrate his holiday weekend with these 50-75% off blowout sales HERE and HERE…I’m very thankful you want to learn, now enjoy these savings and study hard!
My dream is that one day, one, or ideally several, of my trading challenge students will be on this list. Trading stocks can be extremely profitable, but you have to profit rather consistently like these guys do to even have a shot at making it “big time” and the problem in the past has been a lack of financial education…something that is now changing thanks to the Internet and free videos like these.
These students of mine are on the right track as their dedication to studying has already changed their lives dramatically in just a few years:
Below is a fantastic post on Forbes that can serve as great motivation for ambitious people around the world. We all want to earn a lot of money, but you can’t get there without A TON hard work and a little luck (and ideally guides like these to help speed up the journey!)
These “young guns” on the Forbes 400 have done both. (http://www.forbes.com/sites/natalierobehmed/2014/09/29/the-youngest-billionaires-on-the-forbes-400-11-under-40/)
Each year, Forbes crunches the net worth of every American billionaire to see who will make the exclusive Forbes 400 list. But 11 members of this club are luckier than the rest: they are in good health, have full heads of hair and many, many years to spend their fortunes.
This year there are 11 American billionaires under the age of 40 on the list, and they have a combined net worth of $78.5 billion, or just under 4% of the $2.29 trillion aggregate net worth of the Forbes 400 ranking.
Unsurprisingly, Silicon Valley whiz kids dominate the billionaire nursery. Napster cofounder and former Facebook CEO Sean Parker is 34, while Twitter cofounder and Square CEO Jack Dorsey is 37. Wireless network entrepreneur and Memphis Grizzlies owner Robert Pera, 36, ranks with a $2.8 billion fortune founded on his Ubiquiti Networks while GoPro camera maker’s Nick Woodman, 39, is worth an estimated $3.9 billion. In percentage terms,Woodman is the year’s biggest gainer, with a 200% increase in his net worth since last year, to $3.9 billion. GoPro went public in June; the stock has been soaring as more people buy GoPro cameras and strap them onto bike helmets, surfboards, scuba gear and more.
Outside of tech, there are still fortunes to be made – or inherited. Scott Duncan, worth $7 billion aged 31, is one of four billionaire siblings who are heirs to the energy-pipeline fortune built by their late father, Dan Duncan. While hedge fund managers have previously had a strong showing in the freshman class of the Forbes 400, this year only Chase Coleman, 39, makes the cut. His Tiger Global Management has about $12 billion in assets under management; Coleman’s personal fortune nears $1.9 billion.
Without further ado, here are 7 of the young billionaires on the list.
Net worth: $8.1 billion
Mark Zuckerberg’s roommate at Harvard and Facebook’s third employee, Dustin Moskovitz left the social network in 2008 to start software firm Asana. He and his wife, a former Wall Street Journal reporter, devote some time to their Good Ventures, which has given millions to such causes as malaria eradication and marriage equality. Moskovitz bikes to work and flies commercial. He is also a regular attendee at Burning Man.
Net worth: $34 billion
Facebook founder and CEO Mark Zuckerberg swung big in the past year to keep his social network from eventually becoming irrelevant. In February Facebook shocked the tech world, snapping up mobile messaging app WhatsApp for $19 billion in cash and stock. The following month it announced a $2 billion acquisition of virtual reality headset maker Oculus VR. Facebook stock has soared, adding $15 billion to Zuck’s net worth over the past year, making him the biggest gainer on the list in dollars terms.
Net worth: $4.5 billion
At 30, Elizabeth Holmes makes her debut on the Forbes 400 as the youngest self-made woman billionaire. She dropped out her sophomore year of Stanford University to found Palo Alto, Calif.-based blood testing company Theranos in 2003 with money she saved for college. With a painless prick, her labs can quickly test a drop of blood at a fraction of the price of commercial labs which need more than one vial. Theranos has raised $400 million from venture capitalists, valuing the company at $9 billion, and Holmes’ 50% stake at $4.5 billion. She has assembled a stellar board that includes elder statesmen George Shultz and Henry Kissinger. Last year, Walgreens, the largest U.S. retail pharmacy chain, with more than 8,100 stores, announced plans to roll out Theranos Wellness Centers inside its pharmacies.
Net worth: $7 billion
Scott Duncan is America’s youngest billionaire to have inherited his wealth — setting him apart from the tech junkies who also make the list of 30-somethings in the .1%. He is the youngest of four siblings who are heirs to their late father Dan Duncan’s energy pipeline empire. Duncan, formerly the richest man in Houston, died in 2010 at age 77. Enterprise Products Partners has seen its stock surge since last year, building off high demand for natural gas, oil and petrochemical pipelines. It now owns nearly 51,000 miles of pipeline. His net worth has climbed $1 billion since last year due to generous dividend payouts and the quickly growing stock. His sister Randa Duncan Williams is the non-executive Chairman of the board. His two other siblings, Dannine Avara and Milane Frantz, are also billionaires.
Net worth: $3 billion
The Napster cofounder and founding Facebook president has turned his attention to politics. In April, he started Brigade Media, a startup that will harness technology to enhance civic engagement. He contributed most of the venture’s $9.3 million in early funding, with angel investor Ron Conway and Salesforce.com founder Marc Benioff chipping in. Parker has given more than $1.4 million to political candidates since last year. For reasons he hasn’t explained, he ramped up his contributions to Republicans, after donating mostly to Democrats in the past. Parker’s fortune reached the $3 billion mark this year thanks to rising share prices for Facebook. Parker is no longer making new investments with Founders Fund, Peter Thiel’s venture firm, which he joined after leaving Facebook in 2006. He’s still a partner in earlier funds and remains on Spotify’s board. He’s also quietly re-launching Airtime, a video chat start-up that flopped two years ago, under a different name.
Net worth: $2.8 billion
Robert Pera started as a hardware engineer at Apple in 2003 but bolted exactly two years later to start his own tech company, Ubiquiti Networks. He later said “Apple is a great company, but I realized I wanted to have more success faster.” Ubiquiti, a software and systems communications technology company focused on emerging markets, keeps costs low to out compete established competitors like Motorola on price while maintaining robust profit margins. Ubiquiti’s product range includes Wi-Fi amplification systems that can provide internet access to as few as 10 people or more than 10,000 customers within a 36-mile radius. He took the company public in October 2011, turning him into a billionaire at 34; stock tanked the next year amid Wall Street skepticism and a problem with a Chinese distributor which Ubiquiti sued for counterfiting the company’s products. A Shenzen court, with help from Ubiquiti, recently sentenced one of the distributor’s leaders to five years in prison. Three years after purchasing a 25% stake in the NBA’S Memphis Grizzilies Pera is taking on a bigger role in the team’s management.
Net worth: $2.7 billion
Jack Dorsey counts with all of the characteristics that make a Silicon Valley visionary: he dropped out of college, founded one of the most popular, and valuable, social networks around, and was again ahead of the curve adopting new technology with mobile payments and wallets. Jack Dorsey co-founded Twitter with Ev Williams, Biz Stone, and Noah Glass in 2006, and still derives the bulk of his fortune from his ownership in the company, which stands around 4%. Having moved out of the CEO seat in 2008, he’s Twitter’s current chairman. His attention, though, is focused on Square, the mobile payments app he founded and leads that broke open the market through its innovative reader, which turned every smartphone into a credit card processing machine. As rivals have ramped up the competition, Square has suffered, though, with reports of 2013 losses in the $100 million range and drying cash reserves. Transactions in secondary markets put the company’s value at $5 billion, as Dorsey managed to secure additional financing from a consortium of Wall Street banks including Goldman Sachs and JPMorgan Chase. A certified masseur, Dorsey dropped out of NYU in 1999 and used to frequent punk concerts in his youth. The tattooed entrepreneur has evolved through the years, growing a beard and expressing his interest in becoming New York City Mayor at some point. Dorsey’s father worked for a company that developed mass spectrometers, while his mother was a homemaker.