These people got their start designing vacuums, internet sites and now their billionaires. But they really shouldn’t be. Billionaires should be the extraordinary ones who are truly innovative and helpful to society.
I guess a $10 million advertising agency, a few prototypes and some global publicity makes you a bona-fide billionaire. Well consider these success stories.
James Dyson – Net Worth $1 Billion from Vacuum Cleaners – O’ Rly?
You may know that he named his vacuum invention after himself, but the most surprising thing is he is a billionaire. What? Yes this man has made his fortune selling the Dyson vacuum cleaner worldwide.
I wasn’t aware that a plastic vacuum that looked like it belongs to some B sci-fi movie, is art. But to the San Francisco Museum of Modern Art, and eight other art museums, not only is it art, but it should be prominently displayed in front of eager art lovers.
You don’t see space-heaters in Paris’ Louvre, because its an appliance, it doesn’t belong anywhere but your closet. So, Mr. Dyson, you make a fine vacuum cleaner but go back to designing theaters, ships and wheel barrels.
Sure you can get eager 30-something housewives to buy your vacuum for nearly $600. But you shouldn’t be richer than anybody else on this list.
Ever go to a movie theater just for their air conditioner on a hot summer day? Then you would probably agree that Willis Haviland Carrier probably deserves to be a millionaire. With his appliance that helps people stay cool in a time a need. Let stylish moms buy their $600 vacuum cleaners and let Mr. Dyson become a billionaire? Or, let a real inventor become a billionaire with a device that nearly everyone uses?
Mark Cuban – Net Worth $2.8 Billion from Various Businesses
Our next Billionaire is so audacious, that when he is not harassing NBA referees, or dancing with the stars he is getting indicted for insider trading. Many of you people, are going to be shaking their heads – why – not my Cuban! I know a lot of you adore Mark Cuban for his brash ego and his awesome TV show The Benefactor. But really, come on.
He apparently saved $750,000 on the unknown internet search company Mamma.com by selling his stake in the company in 2004. Now? Why would you risk time in the big house when your a damn billionaire? Especially to save just $750K?
I don’t want to completely berate Mark Cuban, some of his businesses were crazy-innovative and successful, but he is undeserving because most of his billionaire success steams from luck.
We all know that luck is important in our society, it makes us sympathetic for the individuals born with cancer or aids, or getting ran over by an angry mob on Black Friday. But his $5.7 Billion sale of Broadcast.com to Yahoo.com during the heyday of the dot-com boom is downright ridiculous. Many people have become billionaires by selling great, profitable companies. But not by selling a company that is overvalued and losing millions per quarter.
You can’t credit this transaction all towards Yahoo, at the time it was filled with dot-com this, and internet that. Investors were flocking to early-stage companies by the tens of thousands. But without his sale of broadcast.com ( which is now defunct on the Yahoo network) he is just a wealthy business person ( just a millionaire, Ha). Without his sale he would have never gotten the notoriety and the money to buy the Spurs. Then maybe, we don’t have to hear about his attention-getting antics.
Who should replace Mark Cuban? None other than Guy Kawasaki, who started the popular blog “How to Change the World.” Which is nearly 10 thousand times better than Mark Cuban’s blog.
John Paulson – Net worth $2.8 Billion from Finance Industry
Our next billionaire you probably never heard of. But in the spirit this day, where hating anyone who works (or Worked, haha!) in the finance industry is the norm, we present a man who made billions by betting against your mortgage.
One manager, John Paulson, made $3.7 billion last year. He reaped that bounty, probably the richest in Wall Street history, by betting against certain mortgages and complex financial products that held them. – NYTimes.com
Not only are millions of hard-working Americans are struggling with their mortgages, but the fact that this man saw it coming and did nothing! Making around $10,136,986 a day, for 2007, is outstanding. He could have helped the US by sending a letter to George Bush or the congress.
Who should be a Billionaire in Finance? Well at the moment I don’t think there are too many in this industry. But if I find a reputable business owner who isn’t narsassistic, then I’ll add them here. But I wouldn’t hold your breath.
