It's no coincidence that some of the most successful entrepreneurs in the world also happen to be the wealthiest.
1. Jeff Bezos: Realize Being Frugal Isn't a Bad Thing
As the founder of e-commerce mega-company Amazon, Jeff Bezos earned the top spot on Forbes' list of billionaires. He had a particularly impressive start to the year and increased his net worth by $30.1 billion and counting in 2018 alone.
Many people think living a frugal lifestyle means denying themselves of the things they want and doing anything they can to avoid spending money. However, Bezos said he believes frugality is a positive thing because it drives innovation.
He clarified: "I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out."
2. Bill Gates: Investing in the Poor Creates a Sustainable Future
Many of the world's richest people get involved in philanthropic efforts, and Bill Gates is no exception. He suggests individuals who want to make their money benefit future generations need to focus on the most disadvantaged members of society.
The Microsoft founder revealed: "We make the future sustainable when we invest in the poor, not when we insist on their suffering."
3. Warren Buffett: Make Saving Money a Habit
Many people learn about the value of saving money from their parents or other well-meaning relatives. Warren Buffett, one of the world's best-known and successful investors and the owner and CEO of Berkshire Hathaway, thinks having well-formed money habits is crucial to accumulating wealth, and that people who don't save set themselves up for later problems.
Luckily, his sage advice isn't hard to follow: "I think the biggest mistake is not learning the habits of saving properly early, because saving is a habit."
4. Bernard Arnault: Know Which Investments Are Working Well
Bernard Arnault is a French business executive responsible for leading LVMH, the world's largest company associated with high-end merchandise.
When looking back on past investments, he's said, "I've always been pleased with the investments I've made with my friend Albert Frere, and I regret not having followed him more, because I would have been a lot richer."
While we can't all be friends with Albert Frere (who is the richest man in Belgium), there are wealth management and planning options available to help high-net-worth people better manage their money.
5. Mark Zuckerberg: Be Aware of Where Your Money Goes
Facebook's founder Mark Zuckerberg has dealt with plenty of business challenges lately due to the Cambridge Analytica scandal that comprised data associated with millions of the social media platform's users. Still, he's one of the wealthiest entrepreneurs in the world.
When talking about how Facebook uses its profits, Zuckerberg asserts the company always has its services in mind and wants to improve them for customers. He notes: "We don't build services to make money; we make money to build better services."
By using that quote as a jumping-off point, it's wise for people to think carefully about the results generated by putting their money into particular endeavors. Since Facebook is a business that wants to keep its users happy, aiming to enhance services is a sensible move.
Like Bill Gates, Zuckerberg committed to charitable giving by establishing the Chan Zuckerberg Initiative in 2015. Sources say he's been selling Facebook stocks to meet a goal of fully funding his charity.
6. Amancio Ortega: Stay Humble and Don't Become Complacent
People often set goals related to the amount of income they want to make or how soon they want to achieve a minimum net worth. Amancio Ortega was not born into money, but became one of the most financially successful men in Europe after founding the Inditex Fashion Group.
Some people may not know that company immediately by its name alone, but they may be familiar with Zara, one of the establishment's most famous brands.
Whether with money-making plans or other aspects of life, Ortega warns against becoming too complacent. He says, "Complacency is the worst. I never allow myself to be content with what I have done, and I always tried to instill this in everyone around me."
It's also helpful that Ortega has earned a reputation for humility and shrewd investing. Ortega reportedly does not have an office, and he eats his meals in the company cafeteria. Furthermore, he invests in properties in Europe and the United States.
Keeping These Suggestions in Mind to Generate Future Wealth
There's not a magic formula for getting rich. However, the people profiled on this list made impressive gains and have plenty of valuable pointers to give.
Being mindful of these tips can help anyone who is eager to increase their financial stability.