They've come a long way from their first jobs as gas station attendants, bookstore clerks, short-order cooks and door-to-door garbage-bag salesmen.
In the accompanying slide shows, 14 self-made members of the Forbes 400 gave us an exclusive peek at their childhoods, dreams, mistakes, routines and motivations. The titans weighed in on topics like what it takes to be a stratospherically wealthy entrepreneur, what other vocational paths they might have chosen, how much they read, and if an M.B.A. is worth the paper it's printed on.
In pictures: What was your first job? | What was your biggest mistake? | How many hours a day do you read? | Is there any reason to get an MBA?
For every prosaic answer, there were many more thoughtful, nuanced and even playful ones--and no shortage of insight for the striving throngs who hope to follow in their predecessors' size-15 footsteps.
This year's list demonstrates that you don't have to be born a Walton or a Rockefeller to join the ranks of the country's 400 wealthiest individuals: 261, a shade less than two-thirds of them, are self-made tycoons with an average net worth of $3.1 billion (the same as the average for the list as a whole). They've conquered a gamut of industries, from real estate to oil, although only two of the 14 founded what are now publicly traded companies. (When you're a romping, stomping entrepreneur, who needs shareholders and regulators slowing you down, right?)
Many of these guys were dreamers from the get-go. One aspired to run General Motors (nyse: GM - news - people ), another to play professional baseball. Then there are the conflicted: One self-made mogul confessed that he'd consider an alternative career as a journalist--or perhaps a hobo on tranquilizers.
In pictures: If you could be anything else, what would it be? | What is the best part about being the boss? | What is more important: the idea or the execution?
The world's elite entrepreneurs aren't exactly cut from the same mold. One prays to the "Force" and cites James T. Kirk of the Starship Enterprise as his mentor. Another says he holds the unofficial world record for most pizza deliveries in a night. (One hint: It didn't go to the founder of Little Caesar's.) As for their mentors, the list included fathers, mothers, Roy Rogers and McDonald's (nyse: MCD - news - people ) founder Ray Kroc. And when it comes to blowing off steam, their methods range from riding motorcycles and playing basketball to watching old Westerns, hanging out on the farm and sipping vodka on the rocks.
For all of their varied perspectives, the group did offer similar responses to some questions. Most eat healthy breakfasts and exercise almost daily. (At age 85, one man still does 90 push-ups and jogs a mile every day.) It's little surprise, too, that many admitted to having a deep desire to make their mark--not to mention a pile of dough. Says casino kingpin Phillip Ruffin: "Money is how you keep score."
In Pictures: What motivates you? | What can't you live without? | What is your advice to young entrepreneurs?
They've all made plenty of mistakes along the way, too. For all his riches, Wayne Huizenga, the founder of Blockbuster (nyse: BBI - news - people ) and Waste Management (nyse: WMI - news - people ), says he regrets jumping into baseball and hockey, despite his love for both games. (He currently owns the Miami Dolphins and previously owned the Florida Marlins and Florida Panthers). After getting dinged in tech land, real estate giant Jorge Perez learned to stick with what he knows best: land development.
Were the struggles worth it? Damn right, says financier Richard Rainwater (who didn't fill out our entire questionnaire and is not included in our list of 14). When asked what "success" is to him, the legendary Texas dealmaker simply wrote: "Being me."
See slide show and read more at:http://www.forbes.com/entrepreneurs/2006/09/21/forbes400-walton-mcdonalds-ent-cx_mf_0921selfmade.html
Tuesday, September 25, 2007
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