The Money Podcast 'How to be a Billionaire' | Interview With Author & Wall Street Investor Martin Fridson
Why settle for aiming to be a millionaire if you could just go for it and set your goal to be a billionaire?
In this episode of the Money Podcast, Rob chats with Martin Fridson, a CFA and the author of “How To Be A Billionaire.” Martin’s book has been one of the top non-fiction bestsellers and has helped many people on reaching – not just getting near – their goals.
Discover today how a billionaire’s mindset and personality differ from a millionaire. It’s true also that along the way, there will always be challenges, detours, and people who would definitely put your guard down. Learn how the classic and modern billionaires dealt with these so you’ll have the basis on how to face such and stay focused on becoming a billionaire. Aside from these, Rob and Martin also talk about Martin’s career and his book.
When you walk the road to being a billionaire, do you wish to be greedy and capitalistic? Or do you want to be generous and philanthropic? Listen in, so you know how to balance your life, how to give back, and how to live your billionaire life to the fullest.
KEY TAKEAWAYS
- What does a billionaire know that a millionaire doesn't yet know?
- "Really understanding that it is possible to achieve, that’s the most significant difference."
- You have to be extremely focused if you want to be a billionaire.
- "What comes first is the focus in business building and enterprise."
- Greedy and capitalist vs generous and philanthropic. Many billionaires had some issue with their dealings in their business, but once they have turned to philanthropy, they put their eyes on socially-relevant projects. For example, John D Rockefeller helped in a significant project of eradicating the hookworm disease.
- Three things you need to ready yourself with when you want to become a billionaire: Scale, Timing, and the ability to take rejection.
- Scale: Deciding on whether to make it to a national or international scale is very essential. To get into a billionaire status, you have to reach certain boundaries.
- Timing: The rapid growth right now is your cue to start moving to become a billionaire. Know the trends, so you know when's the right time to scale up or introduce new products & services.
- The personality of a billionaire: You have to have a thick skin to succeed.
- The downsides and upsides observed by Martin on starting billionaires:
- Example of a downside: People they interact with may think that they got the shorter end of a deal. Most of the time, this sparks the altercation between the parties – i.e. the individual getting sued.
- Upsides: Billionaires give essential contributions to the community. For example, in the restaurant industry, companies are starting to listen to the consumer demand of being provided with healthy options. A lot of companies also are at the forefront of the revolution in technology.
BEST MOMENTS
- "There's this line of huge vision and craziness."
- “There are unquestionably dislocations when innovation comes along, when there's disruption, ultimately winds up better. it's important not to be cavalier about this to understand the effects of that dislocation towards solutions for those that wind up on the wrong end."
- "You have to have the incentive of profit to take the risk and do all the work, do all the regulation, construction and competition... and that's the reward."
- “I think that in many cases, they[billionaires] really feel that it’s important for everyone to have the opportunity they have. They appreciate what capitalism has made possible for them. They know that without the education they received, they wouldn’t have been able to exploit those opportunities. I think they feel a great sense of injustice that we haven’t reached the stage where everyone has the educational opportunity.”
VALUABLE RESOURCES
- How to be a Billionaire: Proven Strategies from the Titans of Wealth by Martin Fridson
- The Money Podcast with Rob Moore |iTunes |Stitcher|Omny
ABOUT THE GUEST
Martin Fridson is a Certified Financial Adviser, a financial writer and the author of “How To Be A Billionaire”. According to the New York Times, he is “one of Wall Street’s most thoughtful and perceptive analysts”. In 2002, Martin was named the Financial Executive of the Year by the Financial Management Association International. He is also the youngest person ever inducted into the Fixed Income Analysts Society Hall of Fame.
- Martin Fridson Official Website
- Email him at
ABOUT THE HOST
Rob Moore is the author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor and property educator. Author of global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
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