Author Topic: Why do billionaires work?  (Read 16845 times)

Albert

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Re: Why do billionaires work?
« Reply #50 on: February 03, 2016, 02:28:59 PM »
I think a lot of people on this board are motivated mostly by money. Not to buy fancy things, but still by money. The other big motivator for humans is of course power, over people but also over events. To take it to extreme if you are Larry Page or Sergey Brin you would leave Google why??? With it you can influence the history...

ol1970

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Re: Why do billionaires work?
« Reply #51 on: February 21, 2016, 07:45:11 AM »
This in my local newspaper there was an article about a local businessman who I've met socially a couple of times through car clubs I am in.  He is know for throwing lavish parties with free food and drinks for everybody on the list.  I don't know his net worth, but I would guess it is in the $50M range, maybe more, but regardless he has not had the need to work in a long time.  Now he is in his mid 60's and has been ousted as the CEO of the company he helped found and grew for 25+ years.  Now he is suing his partners and starting a rival firm inside the same damn building his former partners are in.  He is quoted in the article that he doesn't have any hobbies and this is just what he does, he can't quit.  It is funny because meeting him in person I've thought damn this is a cool dude he has life by the you know what...but it is just a lesson to me about money and happiness.  He can't turn it off and it probably has ruined some of his life long friendships.  I get the whole you love what you do and are happy doing it, but there is also something to be said for riding off gracefully into the sunset.  When I retired early I explained to people that I wanted to go out on my terms & equated my actions to a hometown football hero...Barry Sanders.  When he scored a touchdown, he jogged over to the ref and handed him the football...no dance or silly self attention grabbing commotion, he acted like he had been their before and exited with class and grace.  I think with some people it really is just about ego and their way to measure their self-worth.

Lifestyle Deflation

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Re: Why do billionaires work?
« Reply #52 on: March 30, 2016, 03:27:48 PM »
I think a lot of it is that when you're FI or run a business, you're mostly free of the day-to-day "keeping up appearances" BS that a lot of us despise about work. Ultimately you can hire people to do the stuff you don't want to do, and focus on the things you're good at.

retired?

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Re: Why do billionaires work?
« Reply #53 on: March 31, 2016, 10:11:20 AM »
Billionaires typically don't set out to become billionaires.  They have a lot of talent, drive, and ingenuity that ends up being worth a lot of money.  Just because they can afford to stop doesn't mean they want to.

Agree.  Clearly, most are very motivated, energetic people and like being very busy.

I think the concern of "what would I do?" is the same as for regular ol' millionaires FIREing and the connection between self-worth and work.