Billionaires seems to be the new millionaires, if recent newflow is anything to go by. In February 2021, Bumble founder Whitney Wolfe Herd became the world’s youngest self-made female billionaire following its IPO. Early April saw Kim Kardashian West make headlines after reaching billionaire status, according to Forbes business magazine.
And recently, there’s been a three-way tussle for the title of the world’s richest between Amazon founder Jeff Bezos, Bernard Arnault – the man at the helm of luxury group LVMH – and Elon Musk, co-founder and CEO of Tesla.
Musk made his money in a variety of ways, with most of his wealth in the form of stocks and shares in the companies he founded. Yet I can’t help but daydream what anyone would do with that amount of money, if he were to cash in and have it available at his disposal…
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Whether anyone should be allowed to be a billionaire is a contentious topic, and one I’m going to let others debate. I can’t help but admire the hard work and graft, though, for many of these self-made success stories, especially Ms Wolfe Herd’s.
In the meantime, I’m going to set myself a more achievable goal, and aim to save as much of my £20,000 annual ISA allowance as possible each year. It’s ambitious, but maybe in time I could become an ISA millionaire… and that’ll do me just fine, thanks!
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