I just saw a documentary about
John Jacob Astor, presented as the richest man in America, back in his time. He grew up in Germany as a poor child, starving for a couple of times, and discovered his salesman abilities in London, where he began selling music instruments made by his brother. He then moved to North America and became the first multi-millionaire by trading furs and renting lands to New Yorkers.
This made me think a lot. I want to be rich. I'm not thinking of being the richest person of my time, but I want to have enough money to live comfortably and, sometimes, do something eccentric. I also want to leave a fortune and other kind of legacy to my children and grandchildren, so that I won't be forgotten (a really cool thing would be to build this kind of castle where I would have a gigantic library, with documents about me and the whole family).
So, I asked myself: what made Mr. Astor this rich?
Here are some of the answers I found:
1. Knowledge of what it's like to be poor
One thing I noticed was that many of the people who make a huge fortune during their lives were poor when they were children. Being also raised in a poor family, John Astor starved in his childhood and probably thought to himself "I have to do something about this. This is not how I want to live.". That's important, I think, but obviously not every poor person becomes a multi-millionaire, so there has to be something else...
2. Entrepreneurship
John Jacob Astor had an extraordinary ability to recognize profitable situations and he was always looking for more - maybe this is the most important combination when it comes to be successful. When his ship to the USA got stuck in the ice, he was the only passenger who didn't wait for the ice to melt: he crossed the ice and walked for about a week to reach his destination. Later in his life, he founded the first city in the Western coast of North America, called
Astoria after him. Also, his sensibility for profitable deals becomes obvious when he buys land around New York, predicting the city's growth.
3. Rationality
If John Astor was sometimes seen as a cold, heartless man, more of a money-making machine than a human being, his rationality allowed him to carefully analyze every situation, learn from mistakes and create a huge, super-profitable empire. He is criticized for not having donated much money to charity, but the truth is that he was just too busy making profit.
I think this man is a great example of success for everyone. The recipe looks quite simple - dedication, analysis and lack of fear - but, even though I know it isn't, I'll be trying to put it into practice.
yours,
millou