How Bill Gates Built His Billion-Dollar Fortune -- 3 Rules That Still Apply
Through Bill Gates' long-term, smart habits and relentless curiosity, Bill Gates was able to co-found Microsoft and become one of the richest people on Earth. Fortunately for the aspiring wealth-builder, many of his most valuable money strategies don't require a billion-dollar business or a computer science degree.
Through the years, Gates has shared several principles that can help anyone, regardless of their salary, become rich over time. Below are some Gates-inspired tips to grow your wealth, build resilience and start thinking like a billionaire.
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1. Build Skills That Never Go Out of Style
Gates is a lifelong learner, someone who reads dozens of books yearly and still makes time for in-depth study. "Reading is still the main way that I both learn new things and test my understanding," Gates said in an interview with The New York Times back in 2016.
He's particularly bullish on learning to code, analyze data or understand science and systems thinking. However, it doesn't have to be technical. What matters is picking up skills that add long-term value and can grow with you, like writing, solving complex problems or leading a team.
2. Save Cautiously, but Bet Boldly on the Future
"Save like a pessimist and invest like an optimist," Gates once advised in an interview with CNBC. In other words, prepare for emergencies, but don't let fear keep you on the sidelines forever.
He kept enough cash on hand to run Microsoft for 12 months without revenue, but also invested in world-changing innovations like the internet, software and clean energy long before they were trendy.
If you want to grow your wealth, it's important to build a safety net, but also learn how to recognize long-term opportunities and act on them.
3. Don't Confuse Being Busy With Being Effective
For years, Gates believed a packed schedule was the mark of a serious leader, until his perspective was changed by none other than Warren Buffett. "I remember Warren showing me his calendar," Gates said in a conversation with Buffett and Charlie Rose. "There were weeks when there was nothing at all."
At the time, Gates had every minute booked and thought that was the only way to run a company. Watching Buffett, he realized that constantly rushing from task to task wasn't necessarily a sign of productivity. "It's not a proxy of your seriousness that you've filled every minute in your schedule," he later reflected.
Since then, Gates has become much more intentional with his time, protecting space for reading, thinking and working on big problems without distraction. The lesson: Business doesn't equal progress. If you want to grow wealth or make smarter decisions, prioritize quality time over constant activity.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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