It is easy for us to fall prey to limiting ourselves mentally. This is especially true when it comes to finances. I spent some time reading through the list of the richest families in the world and it dawned on me just how much money there is in the world.
Many of the families were able to use time to their advantage. Annual returns over long periods of time will add up to enormous sums of money. This is one of the reasons why I am hoping for life extension to take place over the next 30 years. How would you like to keep earning well into your hundreds? Think about how big a nest egg one could have after 85 years of compounding returns?
Of course, most family money extends past any one person's lifetime. This is why the numbers can get so large. Omitted from the list that I used was the Rothschild family. It is estimated their wealth is between $350 billion and $2 trillion.
I got this list from Investopedia and it was updated as the November 21st.
- Walton Family - $190.5 billion
- Mars Family - $126.5 billion
- Koch Brothers - $124.5 billion
- Al Saud - $100 billion
- Wertheimer Family - $57.6 billion
- Dumas Family - $53.1 billion
- Van Damme, De Spoelberch and De Mevius Families - $52.9 billion
- Boehringer, Von Baumbach Families - $52.1 billion
- Mukesh and Anil Ambani - $50.4 billion
- Cargill, MacMillan Families - $42.9 billion
These families are behind some of the best known companies in the world. They are involved in energy, beer, candy, retail, agriculture, and fashion. Many date back over 100 years, providing their enormous wealth.
Of course, there are many individuals with more money than many of the families on this list. Depending upon where Amazon stock is on a given day, Jeff Bezos could rank #2 on this list.
One of the biggest keys to wealth is actually owning stuff. This is something that eludes most people unfortunately. Having stake in the game is vital. People who are too busy working tend to not get ahead. The big money is in having assets of some kind.
My view is that cryptocurrency is going to offer this to a lot of people. Since few have the money to invest, crypto could offer the potential to enjoy outrageous gains over the next decade. This could set some people up very well.
When looking at this industry, we see people like Dan Larimer, Vitalik Buterin, Charlie Shrem, and the Winklevoss Twins as the first group of crypto-billionaires.
A great deal of success starts with the idea of thinking bigger. When we put a cap on what we think can be accomplished, we literally put a cap on it.
If the industry unfolds like I believe it will, we will see crypto-millionaires all over the place. While not in the arena that is cited in this article, I don't imagine it is a bad place to be.
There is a lot of wealth out there with more coming. It is just a matter of getting involved to a degree where a massive bull run nets a giant windfall. At the same time, it is essential to be able to weather the down times.
Hopefully cryptocurrency will put a lot of wealth into the hands of average people.
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