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“We do it repeatedly. So excellence is a habit, not an act.” – Will Durant
Millionaires have developed habits that have led them to success, but there are plenty of memes and real-life details that teach us the opposite.You will see discrediting stories Jeff Bezos“Garage Startup” Amazon.com, Inc. (NASDAQ: AMZN) for receiving $300,000 from parents, or Elon Musk His father was a wealthy South African engineer, so it was far from spontaneous.
What we forget is that we are allowed to acknowledge both sides. Bezos and Musk, of course, had a huge advantage given the position their parents put them in.’ However, I can also admire their ability to maintain and grow with the tools provided.
You see, having money doesn’t mean that success has been forgotten. How many lottery winners went bankrupt? According to various reports, 70%. Still, we all say, ‘I’m ready for life’ when imagining achieving great success.
The point is, long-term success cannot be luck or privilege. Too many opportunities to make stupid decisions that people like Musk and Bezos have to avoid on a daily basis, and luck comes to chance. Indeed, you rarely find yourself at the same starting point that the billionaires on this list found in the first place. , it is within our control to learn from our ability to play wisely long-term. It is worthwhile examining the types of risks that are considered worthwhile.
Related: Want to learn how to trade like a pro?
With all that said, who became the richest person in the world this week (August 12, 2022 – August 19, 2022)?
bill gates Already Ecolab’s (NYSE: ECL) largest shareholder.But this week, according to Barrons, the billionaire and microsoft (NASDAQ: MSFT) co-founder doubled this investment and bought more. This move may be similar to what you can use in your own portfolio. Ecolab is down nearly 27% year-to-date. Gates saw stocks he clearly believed in when he made his first investment. He likes and believes in the company, even though the stock is down, and he doubled down on his instincts. please give me.
One of the reasons for Ecolab’s move may have to do with an article reported on Yahoo! Fundraising to credit Gates for saving Biden’s climate bill. Bloomberg Green reported that “one of the richest men in the world felt obligated to give one of the country’s most powerful lawmakers a word of encouragement…” . Ecosem, Chemical, When brimstone energy.
There was also the issue of nuclear fission startup TerraPower. TerraPower, apparently not yet on the market, has invested well over $700 million in funding to develop advanced reactors that will serve as replacements for existing reactors that make up the majority of the world’s civilian nuclear reactors. procured. With plans to be operational by 2028 and a $4 billion price tag, these aren’t moves to take lightly. You can read more about TerraPower on CanaryMedia. One of the interesting investment notes on this issue is where are startups getting their money from? Investments include his more than $250 million from South Korean groups, no other previous funding..
Warren Buffett You may be plotting your future by endorsing Gates, but for now, Berkshire Hathaway (NYSE: BRK-A) has received approval to purchase up to 50% of a major oil company on August 19, 2022. Occidental Petroleum Corporation (NYSE: OXY). News of Buffett’s involvement alone sent the stock up nearly 10% higher than his to close. Berkshire has already invested heavily in the company, leading to speculation as to whether Buffett is willing to buy the entire company. CNBC reports: If you own 30% or 40% and want to buy for $95 or $100, you save a lot of money,” said Cole Smead, president of Smead Capital Management and a Berkshire shareholder. I’m here. “This stock is trading like a casino. The market is giving him all the stock he wants.”
Jeff Bezos I also bet on startups and made a lot of money.In fact, he likely made a lot of money on his investments. Airbnb Inc. (NASDAQ: ABNB) almost 10 years before going public. Bezos keeps an eye out for up-and-coming investors in the real estate sector. Arrived homeArrived Homes is a real estate investment platform that allows individual investors to purchase shares in single-family rental properties for as little as $100.
Bezos’ Amazon made headlines this week after the Federal Trade Commission filed a lawsuit for “harassing” current and former executives, including Bezos himself. The filing, which was filed on Aug. 5, 2022, has not hurt the company as Amazon has risen nearly 13% of his over the past month.
Elon Musk This week we stayed in the news as usual.was Tweet About purchase Manchester United PLC (NYSE: MANU), which was quickly revealed as a joke by Mask himself. Since man, he probably needed clarification. U. is a publicly traded company. CNN reportedly discussed the possibility of the SEC filing a lawsuit against Musk in the matter, but that seems unlikely. However, Musk has to be careful, as his tweets literally move the market. Manchester United surged shortly after the tweet, with him up $2.50 in the last month.
Twitter Inc. (NYSE: TWTR) Lately, Musk seems to be taking it all in one way or another.Trolling aside, thanks billie eilish And there is a general ridicule, a whole problem … buy the whole company. The acquisition has been in the news for months, but there was an interesting twist this week. Using his Botometer, Musk’s team estimated that 33% of the accounts shown on the platform were simply spam or fake.However, Botometer creator and maintainer Yang Kaicheng He said the numbers “mean nothing”.
Finally, mask baby, Tesla Inc. (NASDAQ: TSLA) made news this week for several reasons. On Friday, Musk said Tesla is delaying the rollout of its next “fully self-driving beta” software update (10.69) because of “a number of major code changes.” Musk’s full tweet states: Released to ~1000 Tesla owners on 8/20, released 10.69.1 next week to address feedback, released to ~10,000 customers, 10.69.2 weeks later he released to rest of FSD beta To do. ”
This news came the same week as the Indonesian president. Joko Widodo He urged Tesla to build cars and batteries domestically. The president and his Musk have previously spoken about the move and met earlier this year. The Indonesian president envisions the country becoming a hub for all EVs, not just batteries. Fast approaching is his November meeting, where the country will host the summit of his G20 major economies. It should be noted that Tesla is not the only EV company on Indonesia’s radar. Toyota Motor Corporation (NYSE:TM), Mitsubishi Corporation (OTCMKTS: MSBHF), and Hyundai Motor Company (OTCMKTS: HYMTF).
A few points:
Invest in what you are passionate about. Regardless of what you think of Gates and Musk, or the backlash they receive, it’s clear they’re putting their time, money, and energy into the projects that matter most to them.
Multiply your investment and what you believe in. If Warren Buffett could endorse nuclear fission and at the same time take steps toward buying entire oil companies, he could invest in health-conscious companies. Simply Good Foods Company (NASDAQ:SMPL) and Sugar Pusher Hershey (NYSE: HSY).
Develop positive habits over time by investing in what you believe in, investing only in what you can afford to lose, and investing in yourself. Do these things and you’ll be better off.
Looking for ways to improve your returns? Check out Benzinga’s article on alternative investments.
Photo by Steve Jurvetson, Smithsonian Institution of the National Museum of American History, created with images from Anthony Quintano on Flickr
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