BRW Young property developers- What makes them different?

most of these guys are 35+, not exactly young

 

While we're on the topic of successful entrepreneurs who down play the funding and support they received from their parents - Richard Branson.

How does someone so young get the funding and find the courage to go out and start their own record store, etc, etc, etc?
Again.. Not exactly your typical middle class background, he came from the best kind of money (old money). If Richard Hadn't made his fortune in business and had gone into law (which he dad actually talked him out of, because he didn't like that his own father pushed him into it..) He would still have been a very well off individual based on his family wealth, connections & prep school education..

His Father was Cambridge educated Barrister & Magistrate, Edward Branson.
His Grandfather was The Right Honourable Sir George Arthur Branson, also a Cambridge man, Barrister and UK High Court Judge.
His Great Grandfather was, James Henry Arthur Branson, also a Cambridge man and I believe rose to be the most senior legal power in Calcutta back in the good ol' days where it was part of the empire.
His Great, Great Grandfather was Harry Wilkins Branson, Managing Partner of Pharoah & Co, Printers and Publishers. I can't tell if he was a Cambridge man or not, but I think he probably was..
His Great, Great, Great Grandfather was John Edward Branson. Born in Westminster, moved to the colonies presumably doing something equally fancy...

 

Not sure but I think drive is a huge one. These guys are probably more relentless than most. Sitting around clipping a pay cheque and doing things within a comfort zone probably won't get most people there.

Of course doing it in the right market etc is also important.

And lastly some fail along the way but should still be congratulated for having a go.

 

Have you read his bio ? I highly recommend the book - a real page turner. You couldn't make that stuff up he has had an amazing life and is goes into great detail about how he got to where he is.

 

Am inspired by these people, amazing stuff really

 

I think it's important to look at your opinions and where they come from.

If someone starts with money it doesn't necessarily mean things are "easier". There's added pressures and expectations and some rich parents refuse to financially back their kids.

Remember wealth stays in a family for an average of 3 generations.

Someone who migrated to Australia is 4 TIMES more likely to become a millionaire. (Something to do with the extra passion that comes from packing up and leaving and starting a new life)

In neither from a rich family or a migrant myself...

 

Inspirational stuff. Couple local WA business owners that I had no clue were worth that much.

 

I have a suspicion that estimates of wealth are typically exaggerated by surveys like the BRW Rich List.

The UK equivalent is The Times Rich List. Back in the nineties the author Terry Pratchett was first included on it. He used to post on the alt.fan.pratchett Usenet group, and I remember him making a response along the lines that the journalists had inflated his earnings from royalties, along with including the value potential (not realised) movie and game licensing deals.

Then again, there are some big numbers being bandied around in that article. Even if they're out by a factor of five or ten, they're a substantial amount of wealth.

 

Those guys are awesome and hell of a lot I could learn from any one of them.

Kudos to them for their success.

A few posters mentioned that their success likely had a very big costs in terms of health, family, relationships and so forth. Dunno. They could easily have had extremely heavy workloads and still kept their health and had family/relationships.

A number of people here have posted how they work 12+ hours a day 6-7 days a week with no mention of health or other costs.

 

Big thinking.

 

Pretty impressive - no matter how much of a leg up they started with.

In looking at the numbers, if anything I think they are underdone. These guys would, I imagine, have a number of sources of income and assets which wouldnt be known. Also anything not in their names couldnt really be counted (eg, wife, kids etc).

I remember a while back in the worlds rich list, some arab guy suing the magazine because they had understated his wealth so signifcantly it was an 'insult' and 'slander'.

Blacky