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The world’s richest people are not all born rich. In fact, many of them have become billionaires through hard work and perseverance.
Forbes released its annual list of the world’s richest self-made men and women in 2022. The list includes a number of school dropouts and people who started from humble backgrounds.
Alexandr Wang is a 25-year-old math whiz who grew up in the shadows of America’s nuclear weapons program. He dropped out of MIT at 19 and co-founded San Francisco-based artificial intelligence firm Scale AI, which was valued at $7.3 billion earlier this year.
According to Forbes, Scale AI helps around 300 companies turn rivers of raw data into gold by implementing machine learning techniques. This includes things like millions of shipping documents or raw footage from self-driving cars.
His company has also helped America’s Air Force and Army to unlock their data’s potential by delivering high-quality training data for AI applications. After a $325-million funding round, Scale is now valued at $7.3 billion and Wang owns 15% of it.
He started out as a math whiz and competed in national coding and math competitions. He got his first job at question-and-answer site Quora at the age of 17 and met Scale’s cofounder Lucy Guo.
Rihanna, born in Saint Michael parish in Barbados, became a global pop star. She signed with Def Jam records in 2005 and released her debut album, Music of the Sun, which sold over two million copies worldwide.
She has since gone on to release a string of top-selling albums, including Loud and Talk That Talk. Her singles have earned her a number of awards, including MTV Video Music Award for best video of the year and Grammy Awards for song of the year.
Her cosmetics line, Fenty Beauty, which she launched in 2017 and co-owns with French luxury brand LVMH, is responsible for most of her net worth. The company generated more than $550 million in revenue in 2020, according to Forbes.
Kylie Jenner, the youngest of the large Kardashian-Jenner family, is officially the world’s youngest self made billionaire. At 21, she’s worth more than her sisters Kim, Khloe, Kourtney and even mother Kris.
She is also a famous entrepreneur and started her own cosmetics company at the age of 19 and has grown it into a multi-billion dollar empire. Her brand employs seven full-time and five part-time employees, with overheads kept to a minimum.
The 21-year-old has become a huge Instagram star and makes millions of dollars promoting her products. She also owns a number of high-end cars, including a customised all-pink Rolls-Royce and Bugatti Chiron.
Her business has gotten her into some trouble. Forbes said she exaggerated the size of her business and revenue, which drew criticism from social media users.
Ryan Breslow is one of the youngest self made billionaires in the world, at age 27. He has founded several successful companies, including Bolt, a technology that streamlines the checkout process for online retailers like Forever 21, Badgley Mischka and Milk Makeup.
He also founded a digital global cryptocurrency platform called Eco, and a crypto pharmaceutical startup called Love Health. He is also the founder of two nonprofits, Conscious Culture and The Movement.
When it comes to building a billionaire business, the key is to find a passion and to be persistent in pursuing your goals. You also need to know when to take a risk and when not to.
Billionaires are usually the result of a series of factors, including inherited wealth, tax loopholes, and government subsidies. Despite these, many of them are successful through entrepreneurship and hard work.