There are billions of reasons to follow these habits.
While self-made billionaires have plenty of differences — from the industry they made their money in to where they live — Rafael Badziag, author of the new book “The Billion Dollar Secret: 20 Principles of Billionaire Wealth and Success,” says that there are some things they have in common. Among them: The little habits that they do every day.
He interviewed more than 20 billionaires for his book, most of them self-made, including venture capitalist Tim Draper; TonyTan Caktiong, founder of Jollibee Foods; and hotel tycoon Perter Stordalen.
“The habits are pretty universal,” Badziag tells MarketWatch.
So what are the little things that these billionaires do at least weekly or more? Here are four.
Habit 1: Have a morning routine (that typically includes waking up very early)
The start of a billionaires morning routine is typically waking with (or before) the sun. Badziag says that most wake between 5 a.m. and 6 a.m. “It’s important [to them] to get up early so they can have time for themselves — when they aren’t distracted by calls and other people.”
But their morning routines go beyond just waking early. Some use the time to read, some to exercise, some to walk their children to school. But no matter what they do: “Almost all of the billionaires I interviewed have a morning routine they follow religiously,” Badziag writes in the book.
This morning routine is often followed by other billionaires, besides those featured in this book. LinkedIn CEO Jeff Weiner reportedly wakes at 5:30 am to exercise, meditate and get the kids ready for school; Richard Branson wakes around the same time to exercise, eat breakfast and spend time with his family.
Habit 2: Read — and not just business publications and books.
There’s no “right” thing to read, says Badziag: “Some of the billionaires read the business papers and periodicals you would expect, but not all of them. Not all read business books. Some read novels.” But the one thing they had in common: “All of them are into reading. Books are one of the methods billionaires employ to learn to do business,” he adds.
Other billionaires not featured in this book have said the same. Bill Gates famously shares his reading list with America, and it too includes a diverse list of books. The summer 2019 list includes a novel about “a count sentenced to life under house arrest in Moscow” and an economist’s take on the future of capitalism.
Habit 3: Contemplate
Billionaires like “me time” too. “Some meditate but most do it in a different way,” says Badziag — be it by taking a walk or just spending time on their own outdoors. “The general commonality is that they take time for themselves and somehow relax during that time.”
Billionaire media mogul Arianna Huffington is a big proponet of taking time to yourself, and Salesforce CEO Marc Benioff is a huge fan of meditation.
Habit 4: Keep healthy
Every billionaire Badziag interviewed has a regular exercise routine — though they vary from running to hitting the gym. “You need to be physically fit to perform at the highest levels,” Badziag says.
Other billionaires say the same: Mark Cuban aims to do about an hour of cardio at least six days a week; Richard Branson gets up early to do some kind of exercise, whether it’s tennis, kitesurfing or biking.
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