Have you ever looked at a billionaire and wondered how they made their first million dollars?
In this video, I will showcase 15 billionaires and tell you how they managed to create their first mil-y before they got their first bil-y.
For any entrepreneur, the tricky part is deciding how to make your first million dollars.
It takes commitment, sacrifice, and a belief in yourself that you can accomplish the goal.
You’ll meet doubters and naysayers, and you’ll want to prove to them that you can do this.
To inspire you, I’m going to profile 15 Billionaires and tell you how they made their first $1 Million.
Evan Spiegel, net worth $9.6 billion, Made His First Million Through Snapchat.
Evan Thomas Spiegel became a millionaire at the age of 23.
Two years later, he was named the youngest billionaire in the world.
So it took Evan two short years to go from $1 million to $1 billion.
He’s the co-founder and CEO of the American social media company Snap Inc.
Along with Bobby Murphy and Reggie Brown, he started the camera and social media company in 2011.
This company is responsible for Snapchat, Spectacles, and Bitmoji.
The 30-year-old businessman was married to Miranda Kerr at one time.
He has 2 children, and today, his net worth is $9.6 billion.
For extra inspiration, Spiegel was a high school dropout.
This proves that you don’t need a formal education to accumulate wealth, and Spiegel is the perfect example.
Mohed Altrad, with a net worth of $3.4 billion, made his first million in the Scaffolding Business.
Mohed Altrad owns the Montpellier Hérault Rugby Club.
Before that, Altrad was in the rather unglamorous business of scaffolding.
He was orphaned at 4-years old, raised by his grandmother, and attended school despite his grandmother’s disapproval.
He did well in school and earned a scholarship to study in France, where he graduated with a Ph.D. in computer science.
In 1985 he bought a bankrupt scaffolding company in France.
This was not a sure win, but Altrad turned it into a winner.
Currently, he has a net worth of $3.4 billion.
The Altrad Group is worth $4 billion in sales and provides construction services globally.
Carlos Slim, net worth $65 billion, Made His First Million Through Real-Estate Investments.
According to Forbes magazine, from 2010 to 2013, Carlos Slim was the wealthiest person in the world.
This Mexican-based businessman, investor, and philanthropist currently has a net worth of $65 billion.
Carlos made his first million at age 25 through real estate investments starting in 1965.
Later, Carlos ventured into many industries under his holdings conglomerate, Grupo Carso.
Most notably, his interests lie in telecommunications, and the dividends don’t lie.
Jack Cowin, net worth $3.3 billion, Made His First Million With Crispy Chicken.
Guess how much fried chicken you would need to sell to make $1 million in wealth?
Jack Cowin knows because this is the man who introduced KFC, Burger King, and Domino’s Pizza to Australia.
His interest in these three franchises started while he was working in Canada.
He noticed the growing interest in fast food while on vacation in Australia.
In the late 1960s, at 26 years, he purchased the right to open ten KFC franchises in Western Australia.
He raised funds by finding 30 Canadian investors to each invest 10,000 Canadian dollars.
In December 1969, he opened his first KFC.
The investment has netted him a personal worth of $3.3 billion.
Jack Cowin didn’t only make himself rich.
In March 2006, the 30 investors who invested the initial 10,000 Canadian dollars each saw their stake balloon to $6.7 million.
Sarah Blakely, with a net worth of $1 billion, Made Her First Million Through Spanx, the stretchy material women love to wear that gives their bodies a smoother appearance.
Who knew that women worldwide would pay big dollars to hide their bulge?
Sara Blakely has a billion-dollar bank account to show that it was a lot.
By age 29, Sara had been running Spanx for a year when she was listed as a millionaire selling her tummy-tucking underwear.
Since then, she has expanded the sale of waistline-reducing garments into leggings and other intimate apparel.
She has amassed a net worth of $1 billion.
What is more impressive is that she was named the youngest self-made women billionaire at 41.
Spanx wearers everywhere are grateful that Sara took the risk so that they could feel good about their bodies in public.
Sergey Galitsky, net worth of $3.5 billion, made his first million through food distribution.
With a net worth of $3.5 billion, Galitsky knows food.
He is the founder and former CEO of Magnit, the largest food retailer and non-state employer in Russia.
He has since sold the company to state-owned VTB Bank.
He also founded the Russian soccer team, F.C. Krasnodar (Crase-No-Dar).
It was his wholesale perfume and cosmetics business, Trans-Asia, that put him on the map.
Trans-Asia got the exclusive rights to distribute Procter & Gamble products in southern Russia.
Not only does Sergey have a love for making billions, but he also values nature and planted 2,500 trees in a park near his soccer stadium in Russia.
Zhou Qunfei (Zow-Coon-fee), net worth of $12.7 billion, made her first million developing glass screens for mobile phones.
This self-made millionaire made her first million when she was just 33.
When her company, Lens Technology, went public, she accumulated wealth quickly.
Qunfei is officially the wealthiest woman in China, with a net worth of $12.7 billion.
Originally, she produced watch faces, and Motorola approached her to develop glass screens for their Razr V3- a flashback to the old flip phones.
This was at a time when phones were changing from plastic to glass screens.
HTC, Nokia, Samsung, and Apple all use her glass in their mobile products.
That’s a lot of smartphones and tablets worldwide.
No wonder she’s a billionaire.
She has a staff of 90,000 people helping her to make the company the success it is today.
Kim Beom, net worth of $7.3 billion, made his first million through computer games.
Kim Beom is the founder of South Korean internet company Kakao.
Kakao operates the mobile messenger service KakaoTalk, which is used by 95% of South Koreans.
His company also operates search engine Daum (day-um) and a music streaming service, Melon.
His net worth is $7.3 billion.
He grew up dirt poor and paid his way through college by giving private tutoring and skipped meals to save a little extra money.
He loves video games, and this passion inspired him to create the country’s first online game portal, Hangame Communications.
Hangame Communications netted him his first million dollars.
George Lucas, net-worth $7.2 billion, made his first million through Star Wars.
George Lucas first became a millionaire at 34 years old when he created Star Wars.
By the time he was 52, he was a billionaire.
If you look at his movie-making credentials, there aren’t many.
Lucas has only directed 6 feature films, 4 of them being Star Wars.
So, how did he manage to make his first million and then billion?
It’s all thanks to an idea he had in 1973.
After the success of American Graffiti, he was offered a 300% pay raise to direct Star Wars.
He declined the pay raise in exchange for 2 things:
1 – That he retain merchandising rights to Star Wars.
2 – That he retains the rights to any Star Wars sequels.
Both were agreed to because nobody thought Star Wars would even survive the first round.
Well, jokes on them because Lucas is now worth $7.2 billion.
And, it was the Star Wars merchandise that made him a billionaire, not ticket sales at the movie theatre.
Remember that in the movie business, the big money is made through merchandising deals, not box office sales.
Dilip Shanghvi (Shang-Vee), net worth of $8.7 billion, made his first million with medicine.
Indian billionaire businessman, Dilip Shanghvi, is the founder of Sun Pharmaceuticals.
With a net worth of $8.7 billion, his first million must seem like a distant memory.
When he started Sun Pharma, he was treating psychiatry ailments.
Today, Sun is the most significant chronic prescription company in India.
They’re leading in the fields of psychiatry, neurology, cardiology, and orthopedics.
There have been various acquisitions, mergers, and changes along the way.
Through Shanghvi’s vision to develop his own drugs, he became a self-made millionaire and then billionaire.
Meg Whitman, net worth $5.9 billion, made her first million as CEO of various companies.
Whitman was 40 when she made her first million and 2-years later, she was worth more than $1 billion.
She’s the former CEO of eBay, and her net worth hit the billion-dollar mark when she took the company public.
This powerful woman is an American business executive, former presidential candidate, and philanthropist.
You can add a board member of Procter & Gamble and Dropbox to her resume.
She was also the former CEO and president of Hewlett Packard Enterprise.
Her resume has other enviable jobs, including the global management and marketing of Playskool and Mr. Potato Head.
She’s been involved with several incredible company transformations, but eBay is the most noteworthy.
Thanks to Whitman, eBay went from 30 employees and $4 million in revenue in 1998 to 15,000 employees and revenue of $8 billion during her time as CEO.
Her millions quickly grew to $5.9 billion, which is her current net worth.
Petter Stordalen (Store-Da-Len), net worth of $1.3 billion, made his first million connecting 3 shopping centers.
Doesn’t sound like a big deal, but by completing this mammoth project, he proved to many doubters that he was capable of much more.
The Norwegian businessman had a project in Norway, to connect 3 malls, and nobody believed he could do it.
He proved them wrong and made his first million from this assignment.
Stordalen is a hotel and property developer and self-proclaimed environmentalist.
He owns the corporate group Strawberry, which consists of 10 companies involved in real estate, hotels, and art.
He has a current net worth of $1.3 billion and believes that what is good for society is also good for business.
Denise Coates, net-worth $6.4 billion, sold betting shops to Coral to make her first million.
She’s the wealthiest woman in the U.K. and its only female billionaire.
Denise Coates became a millionaire when she was 38 and a billionaire when she was 47.
It did help to have a foot in the door as her father owned a chain of betting shops and was the majority shareholder of Stoke City F.C. soccer team in the UK.
As a teenager, Denise worked in the family business, marking up bets in the cashier’s department.
She later got a degree in econo-metrics.
At one point, the family’s betting shop business was struggling, so her dad offered her the position of Managing Director.
She accepted and grew the chain and profits substantially.
Fast-forward a few years, she and her brother John bought the website Bet365.com, and the rest you could say is history.
Today, Denise is worth $6.4 billion.
Chip Wilson, net-worth $5.1 billion, made his first million with sports apparel.
Lululemon Athletica is all thanks to Chip Wilson, the founder and former CEO of the athletic clothing company.
He’s the founder of Westbeach and was involved with Kit and Ace, specializing in technical casual wear.
His mom was a seamstress, and he found his passion for clothing through her.
He opened Westbeach Snowboard in 1979, selling clothing for surfers, skaters, and snowboarders.
Chip made his first million through this brand and eventually sold Westbeach in 1997 for $2.45 million.
Today Chip is worth $5.1 billion and is still a shareholder of Lululemon.
He’s also involved in an apparel company called Hold It All and has stakes in Amer Sports and Anta Sports.
Wilson has been known for controversy, like when customers complained about their pants collecting fuzzballs.
His response was, “Frankly, some women’s bodies just don’t actually work for our clothing.”
Melanie Perkins, net worth of $1 billion, made her first million through Canva.com.
“No” was a word that Melanie Perkins was used to hearing.
She heard it a hundred times, but that didn’t stop her from pursuing her dream.
She always had an entrepreneurial spirit.
At 14, she was designing scarves to sell in her hometown of Perth, Australia.
At 22, she founded Fusion Books, an online system that allowed schools to design their yearbooks.
The company was so successful that it’s now the largest yearbook publisher in Australia.
In 2013, Canva.com was launched.
Melanie conceived the idea for Canva when she was 19.
She wanted to create an all-in-one graphics design platform that was easy to use and accessible to everyone.
Today, she is the CEO of Canva, which has over 10 million registered users from 190 different countries.
It’s available in 100 languages and was valued at $1 billion in 2018.
Her advice is, “Solve customer problems and make sure that the customer is a representative of a large market, and then you will have a pretty good formula.”
You can use her advice to maybe create your first million and then billion-dollar venture.