Opportunity, INSEAD Knowledge
EXCEPTIONAL “Full Pack Golden Knowledge Container”
What Distinguishes the Super Rich From the Rest of Us
- Most billionaires are like you and me in that they want to belong and are searching for meaning and purpose.
- While you may want to join the ranks of the world’s wealthiest, make sure not to end up with a revolution on your hands.
- Presently, there is more extraordinary wealth creation than ever before. Still, the billionaire club remains incredibly exclusive. There are 2,744 billionaires on this planet, according to Forbes. It is estimated that by 2030, the richest 1% of the population will own two-thirds of the world’s wealth.
ABOUT THE AUTHORS
Manfred F. R. Kets de Vries
THE KETS DE VRIES INSTITUTE
Lessons learned, INSEAD Knowledge
There is something to be said about being at the right place, at the right time
Golden Knowledge (GK) Juice
- In the history of super-rich businesspeople, the world’s first billionaire was John D. Rockefeller, the father of the petroleum industry. He took advantage of the new technologies of his time to amass great fortunes, a trend that has continued until today. There is something to be said about being at the right place, at the right time.
- A few years ago, the historian and sociologist Rainer Zitelmann interviewed 45 members of the German wealth elite, mostly self-made entrepreneurs with net assets between €30 million and 1 billion. Zitelmann had them take the Big Five personality test to figure out whether specific personality traits play a key role in the successful pursuit of wealth.
- In the field of psychology, the Big Five model suggests that behaviour is determined by people’s degree of neuroticism, conscientiousness, extraversion, openness to experience and agreeableness. Zitelmann discovered that the very rich scored low on neuroticism and thus tended to deal well with stress. They appeared to be extraverted (or knew how to present themselves that way) and more open to new experiences. In addition, they were less agreeable, i.e. less likely to shy away from conflicts. And finally, they were quite conscientious, i.e. more detail oriented and thorough.
- CONTEXT: The Golden Knowledge Path ("GKPath") digital highway
- Opportunity, Discovering and exploiting the treasure of the digital age
- "genioux facts", the online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, builds The Golden Knowledge Path (GKPath) digital highway to discovering and exploiting the treasure of the digital age, accelerating everyone's success in the digital age. g-f(2)254, g-f(2)260, g-f(2)261, g-f(2)251, g-f(2)312, g-f(2)256, g-f(2)257, g-f(2)272, g-f(2)271, g-f(2)270, g-f(2)268, g-f(2)269, g-f(2)289, g-f(2)283, g-f(2)287, g-f(2)313, g-f(2)293, g-f(2)294, g-f(2)296, g-f(2)298
- The inverted mini pyramid of knowledge, g-f(256), is essential to travel on the "GKPath" highway.
- g-f(2)256 The Big Picture of the Digital Age (5/2/2021), geniouxfacts, The fundamental knowledge mini-pyramid for traveling on the "GKPath" highway.
- Key "genioux facts" to travel on the "GKPath" highway.
- g-f(2)261 The Big Picture of the Digital Age (5/5/2021), geniouxfacts, You are unique. Grow without limits in the digital age.
- g-f(2)257 The Big Picture of the Digital Age (5/3/2021), geniouxfacts, At any moment you take the fastest path (GKPath) to your greatness.
- g-f(2)254 The Big Picture of the Digital Age (5/1/2021), geniouxfacts, The Golden Knowledge Path (GKPath) to accelerate everyone's success.
- g-f(2)260 The Big Picture of the Digital Age (5/4/2021), geniouxfacts, Alerts, Warnings and Relevant Lessons Learned Traveling at High Speed on GKPath.
Lessons learned, HBR
In sum, the super-rich may be different from you and me, but not very much
Golden Knowledge (GK) Juice
- In sum, the super-rich may be different from you and me, but not very much. Having dealt with quite a few of them given my work as an executive coach, psychoanalyst, and management professor, I would like to add my own observations.
- Most self-made billionaires appeared to have been raised by parents who encouraged them to pursue their interests. But quite early in life, these budding super-rich realised the importance of having control over their lives. To work under somebody became a very unattractive proposition for them. As a result, many grew up with an entrepreneurial role model in mind.
- Furthermore, from a young age, they came to appreciate the importance of having money. They view it as a tool that provides them with a range of options and opportunities. In other words, their pursuit of money is linked to their primary desire of having more control over their lives.
- Beyond these traits, I have also noticed the following common behavioural themes.
- Drive. Many self-made billionaires possess a somewhat different Weltanschauung, or world view, compared to run-of-the-mill businesspeople. They’re very focused and have big ideas. They are also quite talented in envisioning possible futures.
- Determination. These people appear extremely determined. And they don’t easily give up. When faced with crises and setbacks, they take action and move on.
- People skills. Many of these people tend be somewhat outgoing. They have realised that starting ventures isn’t an activity that can be done alone. Given this interpersonal skillset, they have a knack for persuading others to buy into their dreams.
- Nonconformity. While other people spend time and energy blending in, the super-rich create their own path. Going against prevailing opinions is not a problem. In fact, many of them enjoy swimming against the current. Some even become uncomfortable when they suspect that their way of thinking is too mainstream.
- Self-confidence. Another notable quality of the super-rich is their sense of self-efficacy. They have a can-do attitude. They strongly believe in their own abilities. They come to view success as being the result of their own efforts.
- Work ethic. The super-rich are very much achievement oriented. They set challenging goals for themselves and work hard to achieve them. In whatever they do, they go beyond the call of duty. Furthermore, they aren’t easily satisfied. They’re always driven to do better.
- Strong intuition. Compared to run-of-the-mill corporate executives, the super-rich make many of their decisions based on gut feelings as opposed to resorting to detailed analysis. Somehow, they’re able to bridge the gap between the conscious and unconscious parts of their mind.
- Competitive mindset. Self-made billionaires thrive on competition. In fact, many of them appear to have collected sport achievements, which taught them how to deal with victory. It also taught them how to assert themselves against their competitors. In addition, it increased their tolerance for frustration.
- Risk tolerance. They also know how to take calculated risks. They strongly believe in the saying, “No guts, no glory”. To them, being risk averse is not the way to great achievements. At the same time, they always ask themselves how they can minimise their losses. In other words, they are risk tolerant but not impulsive.
Some relevant characteristics of this "genioux fact"
- Category 2: The Big Picture of the Digital Age
- [genioux fact deduced or extracted from INSEAD Knowledge]
- This is a “genioux fact fast solution.”
- Tag Opportunities those travelling at high speed on GKPath
- Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
- Type of validity of the "genioux fact".
- Inherited from sources + Supported by the knowledge of one or more experts + Supported by research.
- Authors of the genioux fact
ABOUT THE AUTHORS
PhD with awarded honors in computer science in France
Fernando is the director of "genioux facts". He is the entrepreneur, researcher and professor who has a disruptive proposal in The Digital Age to improve the world and reduce poverty + ignorance + violence. A critical piece of the solution puzzle is "genioux facts". The Innovation Value of "genioux facts" is exceptional for individuals, companies and any kind of organization.
Key “genioux facts”
- Some relevant and recent "genioux facts" from the g-f golden knowledge pyramid to master the big picture of the digital age.
- Opportunities updates (1/19/2022) for those traveling at high speed on GKPath!
- Tag Alerts those traveling at high speed on GKPath
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