There are many successful businessmen and entrepreneurs whose common habit is ‘book reading’. In fact, book reading habit had produced many billionaires in the world. Billionaires like Warren Buffet, Bill Gates and Mark Zuckerberg have vivid reading habits. In spite of their busy schedule, they manage to read good books on a regular basis. Most of these billionaires will manage their library to gain knowledge, education and motivation. Warren Buffet spends 80% of the time in reading. You will be motivated to read books by going through the success stories of famous people.
Most of the average people read books for entertainment. Billionaires will be exposed various topics by reading a variety of books. Books will help understand people, situations and issues. You will be able to apply your knowledge, skill and experience to take the right decision in your life and book reading will certainly help you!
Jeffrey Preston Bezos, popularly known as Jeff Bezos is an American entrepreneur, investor, engineer, scientist and philanthropist. He is the founder and CEO of Amazon. In the beginning, the company began as an internet merchant of books and various kinds of products and services are offered at a gradual pace. The world’s largest retailer offers video and audio streaming services as well.
Bezos has business interests in aerospace and newspapers as well. He founded ‘Blue Origin’ in 2015 which sends test flights to space. He has an estimated net worth of $100 billion, and he is the richest man on the planet.
Jeff Bezos received valedictorian and a National Merit Scholar while he was in high school. He finished Bachelor of Science from Princeton University. He graduated in electrical engineering and computer science. After his graduation, he worked on Wall Street. Before establishing the Amazon, he worked on ‘internet-enabled business opportunities’ at D. E. Shaw & Co. Amazon was established in 1994 while he moved from New York to Seattle. The company was setup in the garage. He purchased ‘The Washington Post’ in 2013 in cash. From 1999 to 2017, there is a vast increase in Bezos’ income.
Bezos is an ardent reader of books. He has a great love for books, and they played a great role in shaping him as a successful business leader. His choice includes autobiographies, business, technology and novels.
Books referred by Jeff Bezos:
- The Remains of the Day by Kazuo Ishiguro
- Built to Last: Successful Habits of Visionary Companies by Jim Collins
- Creation: Life and How to Make It by Steve Grand
- Good to Great: Why Some Companies Make the Leap … and Others Don’t by Jim Collins
- The Innovator’s Dilemma by Clayton Christensen
- Sam Walton: Made in America by Sam Walton
Microsoft co-founder, Bill Gates reads 50 books per year. On an average, he finishes one book per week. In spite of his busy minute to minute schedule, Bill Gates will reserve time for book reading. He loves book reading and posts reviews on books on his blog.
Gates has a passion for reading from his childhood. It is his primary source of learning and understanding. Even though he visits many places and meets successful people from various walks of life, he continues the reading habit to improve his learning. Gates prefer to go through the printed book instead of a tablet and other electronic gadgets.Reading helps in learning many new things, and it will also help him in testing his understanding. Warren Buffet recommended ‘Business Adventures written by John Brooks’ to Bill Gates. It was the first book recommended by Buffet to Gates.
Bill Gates follows 4 reading rules to make the most of the reading. He makes notes in the margins. He will not pick up a book for reading unless he can complete it until the end. Even though he reads printed books, he is likely to switch over to digital in the coming days. However, it is a matter of personal choice and convenience. Gates suggests blocking at least one hour for book reading.
As you read books, you can settle down and relax. It is a great means to divert your mind, and you will not be hooked to the phone or social media on your mobile phone. If you can take time to go through the things that are described in the book, you can increase the value of reading. It is easy to absorb words when you go through the words and short videos on YouTube. However, the recollection of the thoughts and application of the knowledge will make the real difference in your life.
- Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2012 by Carol Loomis
- Making the Modern World: Materials and Dematerialization by Vaclav Smil
- The Sixth Extinction: An Unnatural History by Elizabeth Kolbert
- Stress Test: Reflections on Financial Crises by Tim Geithner
Warren Buffet reads 600 to 1000 pages per day. He goes through five different newspapers and spends about five to six hours per day and 500 pages of financial documents on a daily basis. He recommends other investors as well to inculcate book reading and feels that book reading will build the knowledge and it will pay returns in the form of compound interest. Warren feels that all can do it but most people do not commit to reading books.
He attributes his investment decisions to his insatiable reading. The CEO of the Berkshire Hathaway shares that he derives success through the stack of books maintained by him. As he reads various kinds of books, he will also think about the context. By involving in the topic, it is possible to derive the benefits. The fruits of book reading can be implemented in everyday life. Warren Buffet takes financial decisions based on the knowledge and learning experience.
Buffet feels that you will get smarter by book reading. He believes the words quoted by Charles Munger, ‘Go to bed smarter than when you woke up.” Charles Munger is the longtime business partner of Warren Buffet. Both are great learning machines, and they share the key to become smarter, ‘read. A lot’. If you would like to figure out the best investment avenues, you should be an avid reader. By reading, you will be able to find out the truth, and you can find stocks very easily. The reading and thinking should go hand in hand. The mental thinking will help you get an opinion, and you will be able to take the decision very confidently.
Instead of going through other people’s thoughts, you should go through the facts. To find facts, you should go to the source. The book reading will play an important aspect in shaping your life and personality.
- The Intelligent Investor, by Benjamin Graham
- Security Analysis, by Benjamin Graham and David L. Dodd
- Common Stocks and Uncommon Profits, by Philip Fisher
- Stress Test: Reflections on Financial Crises, by Tim Geithner
He is the right-hand man of Warren Buffet and he spends the substantial time of the day in book reading and he is one of the most successful investors in the world. Charlie studied math at the University of Michigan and trained as a meteorologist at Caltech Pasadena and completed graduation from Harvard Law School.
He shared many quotes on life, business and investment and applies three rules for career advancement. Munger and Buffet place great emphasis on reading and learning. Most of the people in the business world will do less reading. The reading and thinking will help you grow in various facets of life.
Charlie says that the key to wisdom is a habit anyone can form. He reveals the secret of his success that he has a long attention plan and feels the desire to get rich very quick is very dangerous. Munger and Buffet are business partners for more than six decades. He had created billions of corporate and personal wealth through diligence and application of knowledge and experience.
Charlie started reading while he was young. He read various books and found intellectuals in books but not in the classroom. Munger suggests books for others as well. If you would like to optimise your reading time and would like to read best books, you can go through the interesting list of books shared by Charlie.
‘Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger’ is a great source of information, lessons, stories and references from Charles Munger. You will understand the requirements to be successful in your life. He feels that self-pity is counter-productive and states that he has not seen any wise person who does not read all the time. ‘Seeking Wisdom: From Darwin to Munger by Peter Bevelin’ published by Intermountain Books will help you succeed in your business.
- Fiasco: The Inside Story of a Wall Street Trader
- The Selfish Gene
- Influence: The Psychology of Persuasion
- Getting to Yes: Negotiating Agreement Without Giving In
Elon Musk is a South African-born American Businessman and investor. He is the founder CEO and CTO of SpaceX. He is the CEO and product architect of Tesla Inc. As on October 2017, his net worth is the US $20.8 billion. He spent two years at Queen’s University for undergraduate study. He received Bachelor of Science degree in physics and economics.
Elon Musk credits his success to eight books. He was influenced by books right from his childhood. His ambitions were fueled by books. He read Encyclopedia Britannica at age 9 and spent more than 10 hours per day on reading science fiction novels. Elon read books to learn about rockets and started SpaceX to materialise his dream. He studied textbooks in astrophysics and engineering to learn about rockets. If you would like to be familiar with structural design, you should read ‘Structures: Or Why Things Don’t Fall Down by J.E. Gordon’.
Benjamin Franklin: An American Life by Walter Isaacson is another book suggested by Elon Musk. Even though Benjamin Franklin started from nothing, he became an author, scientist, diplomat and inventor. Musk was inspired by the entrepreneurial skills of Franklin.
Einstein: His Life and Universe by Walter Isaacson has inspired Musk. The book reflects the Musk’s vision of his companies. Musk is very much interested in artificial intelligence. The book discusses the potential of computational intelligence in surpassing the human intelligence. He was very much inspired by the book, ‘Lord of the Flies by William Golding’ which shares information on survival, competition and greed.
Entrepreneurs should adopt unique thinking. If you can explore the process, it is possible to build successful companies. PayPal author wrote the book, ‘Zero to One: Notes on Startups, or How to Build the Future” by Peter Thiel’ is a great inspiration for successful entrepreneurs.
- Structures: Or Why Things Don’t Fall Down by J.E. Gordon
- Benjamin Franklin: An American Life by Walter Isaacson
- Einstein: His Life and Universe by Walter Isaacson
- Superintelligence: Paths, Dangers, Strategies by Nick Bostrom
Oprah Winfrey is the only black woman who is present on the Forbes list of 400 richest people in America. She was born in a poor family. Her current net worth is more than $3 billion. She discovered her passion for media at while studying at East Nashville High School. She worked for local black radio station after her school hours.
At age 19, she secured a full scholarship to pursue a career in media. She became the first female black women new anchor before 19. Oprah experienced sexual harassment and humiliation at her workplace. She became very popular with ‘The Oprah Winfrey Show’ and founded Harpo Productions in 1986. Winfrey is involved in films, television series and plays.
Oprah Winfrey reads many books, and her business is based on the knowledge acquired through her book reading habit. Oprah Winfrey has supported books, libraries and programs in the United States to promote book reading. Oprah’s Book Club was launched in 1996, and many librarians are hooked to the club as a great source of information. Publishers print about 10,000 copies of Oprah-select books to various colleges, schools and universities in the US. More than one copy will be sent to these libraries as per the demand.
More than 600,000 free books have been supplied to member libraries through the publishers of Oprah’s Book Club selections. The Oprah Winfrey Show had a great impact on the sale of the book picked up or suggested by her. She feels that books are a path to her freedom and credits her father who taught her discipline and offered an environment to acquire knowledge and skill. She did book reports at the age of 9, and she was very much inspired by her father’s counselling that education is the open the door to freedom. Winfrey has contributed to the cause of reading books, and she played a vital role in influencing American citizens towards book reading.
- Wild, by Cheryl Strayed
- The Invention of Wings, by Sue Monk Kidd
- The Twelve Tribes of Hattie, by Ayana Mathis
- Ruby, by Cynthia Bond
Mark Zuckerberg, the American programmer and entrepreneur is the co-founder of Facebook. He is the chairman and CEO of Facebook. With a net worth of $74.2 billion, he was ranked fifth richest person in the world in 2016. He launched Facebook from his Harward University dormitory. With the active participation and involvement of his college students, he was able to introduce Facebook to other college campuses as well.
He is listed in the 100 wealthiest persons in the world in Time Magazine since 2010 and stands in the 10th most powerful people as per the Forbes list, 2016. Mark started writing software in middle school. His father taught him basic programming in 199o’s. He was tutored by a David Newman (a software developer) while studying high school. He developed software to communicate with computers and his father’s dental office.
Mark Zuckerberg attributes book reading to his commitment to personal growth and development. He is challenged by himself to read at least one book in every two weeks. Most of the company bosses read at least 4 to 5 books per month, and it is higher than the number of books read by an average person. Mark Zuckerberg feels every person should read 20 books recommended by him. Some of those books are ‘Why Nations Fail’ by Daren Acemoglu and James Robinson’, ‘The Rational Optimist’ by Matt Ridley’ and ‘Portfolios of the Poor’ by Daryl Collins, Jonathan Morduch, Stuart Rutherford, and Orlanda Ruthven’.
Mark Zuckerberg is the pioneer in the personal goal setting. He not only commits but implements his New Year resolutions. He reads not only books on business but other subjects as well. ‘The End of Power by Moises Naim’ is the first selection of Mark Zuckerberg. You can follow Zuck’s book club on Facebook, https://www.facebook.com/ayearofbooks.
- The Muqaddimah by Ibn Khaldun
- The New Jim Crow by Michelle Alexander
- Why Nations Fail by Daren Acemoglu and James Robinson
- The Rational Optimist by Matt Ridley
Mark Cuban is a successful businessman, investor, television personality and author. He owns NBA’s Dallas Mavericks, and he is the co-owner of 2929 Entertainment and chairman of AXS TV. Mark shared in his experience in sports and business in his eBook, How to Win at the Sport of Business.
He was brought up in a family with a Jewish background. During his childhood, he was very much interested in sports. Mark picked rags to fund his basketball shoes. Cuban took advantage of the Pittsburgh Post-Gazette strike, and he ran the newspaper. He attended the University of Pittsburgh and involved in various part-time jobs such as bartender, dancing instructor, and party promoter. He became a fan of NFL Team and Pittsburgh Steelers and obtained Bachelors of Management in 1981.
Mark Cuban says that the best investment that he made is the one anyone can afford. He invested in books and started his first business, MicroSolutions with just $60 in his pocket and sold to CompuServe for $6 million. He co-founded Broadcast.com which was bought by Yahoo for $6 billion and he could $30 to buy a book if it can propel him an idea or inspiration and he was very much influenced by ‘The Only Investment Guide You’ll Ever Need’ written by Andrew Tobias. Mark favourite book is ‘Cashing in on the American Dream’ by Paul Terhors.
Mark Cuban feels that reading sparks inspiration and he will move to the next level by gaining the knowledge and new perspective on life. He draws inspiration from books and his consistent efforts to learn and educate himself have delivered great dividends by making him a serial entrepreneur. Even though you fail many times, you will learn only once. Warrant Buffet and Mark Cuban agree the key to success is book reading.
- Rework by Jason Fried and David Heinemeier Hansson
- The Fountainhead by Ayn Rand
- The Innovator’s Dilemma by Clayton Christensen
- The Lean Startup by Eric Ries
Jack Dorsey is the American computer programmer and entrepreneur (co-founder and CEO of Twitter) and also CEO of the mobile payment company, Square. He was named the top 35 innovators in the world by the MIT Technology Review TR35 under the age of 35 and received ‘The Innovator of the Year Award’ from The Wall Street Journal.
Jack has English, Irish and Italian background, his father worked for a company which was involved in the development of mass spectrometers and attended Catholic Bishop DuBourg High School. He developed dispatch routine at the age of 14 and the taxicab companies are still using some programs developed by him.
Jack idea about Twitter started while studying at New York University and started his enterprise in 2000 to dispatch couriers, taxies and emergency services based on the internet and created a network of medical devices and frictionless service market. He was inspired by LiveJournal and AOL Instant Messenger, and it paved the way towards the development of short message communication service, Twitter.
Jack Dorsey’s morning routine includes meditation and exercise. His favourite books offered him an insight so that he can push himself by inculcating the leadership skills. Some of the books that influenced him are ‘Tao Te Ching’ by Lao Tzu’, ‘The Score Takes Care of Itself’ by Bill Walsh with Steve Jamison and Craig Walsh, ‘Between the World and Me’ by Ta-Nehisi Coates, ‘The Four Agreements’ by Don Miguel Ruiz and ‘The Old Man and the Sea’ by Ernest Hemingway.
The book reading habit is the common habit among many billionaires. It is the common habit between Jack Dorsey and Mark Zuckerberg. They manage sound sleep and stay active through exercise. The book reading had shaped their lives, and it has become the driving force in reaching new heights in their career!
- Tao Te Ching by Lao Tzu
- The Score Takes Care of Itself by Bill Walsh with Steve Jamison and Craig Walsh
- Between the World and Me by Ta-Nehisi Coates
- The Four Agreements by Don Miguel Ruiz
Phil Knight is the American business magnate and philanthropist. He is the co-founder and chairman of Nike Inc. Phil Knight was the fifth richest person in the world as per the Forbes list, 2015. The net worth of Phil Knight is the US $28.1 billion and the owner of the Stop Motion film production company.
He was the son of the lawyer/publisher, Bill Knight and attended Cleaveland High School. He ran up and down 7 miles per day to work for a newspaper during summer holidays and he has no option when his father denied him the opportunity to work at his newspaper. Knight earned his degree in journalism in 1959. He established records as a middle distance runner by completing 1 mile in just 4 minutes and won many letters of appreciation from the university.
Phil Knight was the Certified Public Account for Price Waterhouse and Coopers & Lybrand. He became an assistant professor at Portland State University. Big leaders are readers, and Phil Knight is no exception. He reveres his library very much so that you should remove your shoe and bow to the shelf of books.
- Shoe Dog, Phil Knight’s memoir about creating Nike
Reading is the smart habit of leaders, successful entrepreneurs and businessmen. They read books to improve in various aspects of life. By reading books, they will get inspiration and energy to accomplish new things. It is possible to unleash new energy and get a direction and better perspective on life. By reading books, you will find another perspective to solve issues.
Not only big leaders and people in business read books for knowledge and they will say that it is indispensable for everyone. The reading habit will help you understand the life, its prospects and you can manage the time, people and material in a very efficient way. You will be inspirited by reading variety of books such as autobiographies, classic books, novels, science fiction, business, management, entrepreneurship and many more.
When you focus on reading, it gives you great relaxation. It is possible to combine the effect of reading and to think to yield better results!