The 10 Habits of Bill Gates that have led to financial freedom and success
What are my plans for 2025 and my billionaire lifestyle?
Photograph of the author with caption Leonardo AI
While I was browsing the internet, I came across an article discussing five habits that led Bill Gates to become a billionaire. Perhaps it was because he had more to teach me than just five, but I still thought, “oh what a coincidence.”
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Consequently, I began investigating the factors that contributed to Gates ‘performance. I was wondering if there were any habits that could contribute to my success, other than being a money bag
Gates needs no introduction. He is a co-founder of Microsoft. He established himself as a distinguished philanthropist. The Bill Gates Foundation had utilized approximately $77 in funds by 2023. The poor and sick receive support from organizations that are backed by 6 billion dollars. Funding is allocated for various areas such as malaria control, climate change, gender equality, global health, education, and social justice
In 1975, Gates and his childhood friend Paul Allen co-founded Microsoft in Albuquerque, New Mexico, after being born in 1955. In 1981, he achieved his first million in six years
In 1999, he became the first centilionnaire after surpassing $100 billion in net worth. With the exception of 2008 and 2010-13, he was the richest person in the world from 1995 to 2017. To this day, he is the world’s second-richest person, with Jeff Bezos from Amazon taking his place
1. Lifelong Learning
Gates has been involved in his charities and other businesses since he left Microsoft as its Chief Operating Officer (CEO) in 2000. In the years since, Gates has been frequently spotted reading and making statements such as “a knowledge is power.”. ”
He has said that he prioritizes learning but could do better when it comes to reading. He shares his latest read online and has committed to reading at least 30 minutes daily
2. Goal Setting
Though Gates struggled with goal setting in his initial years, he perfected the OKR method over a period of time, making him a highly organized and goal-oriented leader. OKR is a project management system. Intel’s CE OA ndy Grove — one of Gates’ favorite business leaders — first popularized it, followed by venture capitalist, John Doerr
The “O” in OKR stands for objectives, while “KR” represents key results. The objectives have to be substantive. The outcomes must be specific, measurable, and verifiable. Gates has been quoted as saying:
3. Embracing Technology
Gates made his millions by embracing technology. He strongly believed that computers could enhance productivity. The adoption of computers is a thing of the past for most of us. But I do believe that we are in the middle of another technological wave, where man and machine could work together for improvements in the quality of life. I propose to keep my mind open to opportunities, being thrown up by unprecedented changes around me
4. Networking
Understanding the power of networking and leveraging it to his advantage is central to Gates’ success. He often leverages his friendships to create awareness for global health issues and tech connections for his “Breakthrough Energy” initiatives
In 2010, Gates and Warren Buffett founded the Giving Pledge. Under this initiative, they, along with other billionaires, pledged that they would give at least half of their wealth to philanthropy
5. Work Ethic
Gates has famously said:
He is known for working long and tirelessly. Legend has it that he worked 10 hours, seven days a week, without a vacation for many years
6. Giving Back
Gates’ commitment to giving back needs no documentation. The Bill & Melinda Gates Foundation has been at the helm of many philanthropic initiatives. That apart, Gates has been involved with Exemplars in Global Health and the OER project. The first collates data on outliers in health and shares these models of excellence with policymakers. The OER, earlier called the Big History Project, looks at human history in an unified and cohesive manner for the benefit of the younger generation. Teachers are trained and courses taught to look at history wholistically
7. Staying Curious
Curiosity may have killed the cat, but it made Gates a success. His insatiable curiosity has led Gates to question existing ideas and open his mind to new ones. As a young boy, he started programming on a computer, donated by a local company to his school. Later, he defied conventional wisdom, dropped out of from Harvard to follow his passion, and founded Microsoft. In later years, he questioned global inequality in health and wealth and started many of his philanthropic activities
8. Health and Wellness
Recently, Gates has shared insights about health, acknowledging the importance of exercise and well-being
9. Accepting Failure
While Gates’ success is well documented, he has also experienced failures. For example, he failed at Traf-O-Data, his first venture. However, he turned his failures into successes by viewing them as a learning process
10. Prioritizing Family and Relationships
Despite his busy schedule, Gates has always made it a priority to spend time with his family and friends
Conclusion
Gates became rich not because he was born into a wealthy family, but because he believed in himself and his ideas. His vision was achieved through action, and a clear thought process about how he planned to achieve his goals. There is a lesson learned for all of us, and there is room for improvement if we so choose
For me, one lesson is invaluable from Gates’ remarkable life — one book, one goal, one relationship at a time. I hope to follow in his footsteps as far as is possible