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15 Billionaires Who Were Once Dirt Poor 11

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Entrepreneur.co.za May 30, 2014

Wealth tends to create more wealth, but a rich background is not the only way to the top. Some of the world's

wealthiest people started out dirt poor.

All from humble beginnings, these 15 people not only climbed to the top of their industries but also became

some of the richest people in the world.

Although the rich do get richer, these rags-to-riches stories remind us that through determination, grit, and a bit

of luck anyone can overcome their circumstances and achieve extraordinary success.

Kenny Troutt, the founder of Excel Communications, paid his

way through college by selling life insurance.

Net worth: $1.7 billion (as of Sept. 2013)

Troutt grew up with a bartender dad and paid for

his own tuition at Southern Illinois University by

selling life insurance. He made most of his money

from phone company Excel Communications,

which he founded in 1988 and took public in 1996.

Two years later, Troutt merged his company with

Teleglobe in a $3.5 billion deal.

He's now retired and invests heavily in racehorses.

Starbucks' Howard Schultz grew up in a housing complex for the

poor.

Net worth: $2 billion (as of Sept. 2013)

In an interview with British tabloid Mirror, Schultz

says: "Growing up I always felt like I was living on

the other side of the tracks. I knew the people on

the other side had more resources, more money,

happier families. And for some reason, I dont know

why or how, I wanted to climb over that fence and

achieve something beyond what people were

saying was possible. I may have a suit and tie on

now but I know where Im from and I know what

its like."

Schultz ended up winning a football scholarship to the University of Northern Michigan and went to work for

Xerox after graduation. Shortly after, he took over a coffee shop called Starbucks, which at the time had only 60

shops. Schultz became the company's CEO in 1987 and grew the coffee chain to more than 16,000

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Investor Ken Langone's parents worked as a plumber and

cafeteria worker.

Net worth: $2.1 billion (as of Sept. 2013)

To help pay for Langone's school at Bucknell

University, he worked odd jobs and his parents

mortgaged their home.

In 1968, Langone worked with Ross Perot to take

Electronic Data Systems (HP) public. Just two years

later, he partnered with Bernard Marcus to start

Home Depot, which also went public in 1981.

Born into poverty, Oprah Winfrey became the first African

American TV correspondent in Nashville.

Net worth: $2.9 billion (as of Sept. 2013)

Winfrey was born into a poor family in Mississippi,

but this didn't stop her from winning a scholarship

to Tennessee State University and becoming

the first African American TV correspondent in the

state at the age of 19.

In 1983, Winfrey moved to Chicago to work for an

AM talk show which would later be called "The

Oprah Winfrey Show."

At one time, businessman Shahid Khan washed dishes for $1.20

an hour.

Net worth: $3.8 billion (as of Sept. 2013)

He's now one of the richest people in the world,

but when Khan came to the U.S. from Pakistan, he

worked as a dishwasher while attending the

University of Illinois. Khan now owns Flex-N-Gate,

one of the largest private companies in the U.S.,

the NFL's Jacksonville Jaguars, and Premier League

soccer club Fulham.

Mega-resort owner Kirk Kerkorian dropped out of school in the

eighth grade to become a boxer.

Net worth: $3.9 billion (as of Sept. 2013)

To financially help his Armenian-immigrant family, Kerkorian dropped out of school in the eighth grade and

later would become a boxer called "Rifle Right Kerkorian." During World War II, Kerkorian worked for Britain's

Royal Air Force. He eventually turned his interest to constructing many of Las Vegas' biggest resorts and hotels.

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John Paul DeJoria, the man

behind a hair-care empire and

Patron Tequila, once lived in

a foster home and his car.

Net worth: $4 billion (as of Sept. 2013)

Before the age of 10, DeJoria, a first generation

American, sold Christmas cards and newspapers to

help support his family. He was eventually sent to

live in a foster home and even spent some time in

a gang before joining the military.

With a $700 dollar loan, DeJoria created John Paul

Mitchell Systems and sold the shampoo door-to-

door while living in his car. He later started Patron

Tequila, and now invests in other industries.

Forever 21 founder Do Won

Chang worked as a janitor,

gas station attendant, and in

a coffee shop when he first moved to America.

Net worth: $5 billion (as of Sept. 2013)

The husband-and-wife team Do Won Chang

and Jin Sook behind Forever 21 didn't always

have it so easy. After moving to America from Korea

in 1981, Do Won had to work three jobs at the

same time to make ends meet. They opened their

first clothing store in 1984.

Forever 21 is now an international, 480-store

empire that rakes in around $3 billion in sales a

year.

Ralph Lauren was once a clerk at Brooks Brothers dreaming of

men's ties.

Net worth: $7.7 billion (as of Sept. 2013)

Lauren graduated high school in the Bronx, N.Y.,

but later dropped out of college to join the Army. It

was while working as a clerk at Brooks

Brothers that Lauren questioned whether men

were ready for wider and brighter designs in ties.

The year he decided to make his dream a reality,

1967, Lauren sold $500,000 worth of ties. He

started Polo the next year.

Luxury goods mogul Francois Pinault quit high school in 1974

after being bullied for being poor.

Net worth: $15 billion (as of March 2013)

Pinault is now the face of fashion conglomerate Kering (formerly PPR), but at one time, he had to quit high

school because he was teased so harshly for being poor. As a businessman, Pinault is known for his "predator"

tactic, which includes buying smaller firms for a fraction of the cost when the market crashed. He eventually

started PPR, which owns high-end fashion houses including Gucci, Stella McCartney, Alexander McQueen, and

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Yves Saint Laurent.

Leonardo Del Vecchio grew

up in an orphanage and later

worked in a factory where he

lost part of his finger.

Net worth: $15.3 billion (as of March 2013)

Del Vecchio was one of five children who was

eventually sent to an orphanage because his

widow mother couldn't care for him. He would

later work in a factory making molds of auto parts

and eyeglass frames.

At the age of 23, Del Vecchio opened his own

molding shop, which expanded to become

the world's largest maker of sunglasses and

prescription eyewear with brands like Ray-Ban and

Oakley.

Legendary trader George

Soros survived the Nazi

occupation of Hungary and arrived in London as an impoverished

college student.

Net worth: $20 billion (as of Sept. 2013)

In his early teens, Soros posed as the godson of an

employee of the Hungarian Ministry of Agriculture

in order to stay safe from the Nazi occupation of

Hungary. In 1947, Soros escaped the country to live

with his relatives in London. He put himself

through the London School of Economics working

as a waiter and railway porter.

After graduating, Soros worked at a souvenir

shop before getting a job as a banker in New York

City. In 1992, his famous bet against the British

pound made him a billion dollars.

After his father died, business magnate Li Ka-shing had to quit

school to help support his family.

Net worth: $31 billion (as of March 2013)

Ka-shing fled mainland China for Hong Kong in the

1940s, but his father died when he was 15,

leaving Ka-shing responsible for supporting his

family. In 1950, he started his own

company, Cheung Kong Industries, which

manufactured plastics at first but would later

expand into real estate.

Harold Simmons grew up in a shack with no plumbing or

electricity.

Net worth: $40 billion (as of Sept. 2013)

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As one of the richest people in the world, Simmons

grew up in a "shack" without plumbing or

electricity. He managed to get accepted to the

University of Texas where he earned a bachelor's

and masters in economics.

Simmons got his first big break buying a chain of

drugstores, which would later sell for $50 million.

He went on to become an expert in corporate

buyouts.

Simmons recently passed away at the age of 82.

Oracle's Larry Ellison dropped out of college after his adoptive

mother died and held odd jobs for eight years.

Net worth : $41 billion (as of Sept. 2013)

Born in Brooklyn, N.Y., to a single mother, Ellison

was raised by his aunt and uncle in Chicago. After

his aunt died, Ellison dropped out of college and

moved to California to work odd jobs for the next

eight years. He founded software development

company Oracle in 1977, which is now one of the

largest technology companies in the world.

From BusinessInsider.comAuthor: Vivian Giang Vivian formerly ran the Careers vertical at Business Insider. She's fascinated by the evolving office, growing industries andhow technology, education and the rise of freelancers play a role in the future workplace. Previously she freelanced for DanRather Reports and worked in public relations in Colorado. She's had internship stints with CBS, CNN and TBS. Vivian has anM.A. in Business and Economic Reporting from New York University and a B.A. from the University of Georgia. She residesin Chinatown and is working on a collection of short stories.

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11 Comments

Latifa May 30, 2014 at 7:11 am - Reply

Very inspirational.Can any of these successful people mentoor me on my business.Thank

you.

Nkosi James May 30, 2014 at 7:24 am - Reply

Thanks again you guys are the best...Ii love entrepreneure.co.za

sanele zaca May 30, 2014 at 7:33 am - Reply

wow! Harold Simmons... Wow!

S andile Ntombela May 30, 2014 at 10:01 am - Reply

it is so inspiring to see that most of these Gentlemen and Lady are no so different from the

majority of the world whom live under hash poverty conditions. if they made it that tells

me that we also have the power in within us to do it just a pity that there is not a Black

Africa yet we have many of them there are similar to them. "Africa's best Entrepreneur"

book by Moky Makura gives lots of details and Profile of them African greatness

S monds May 30, 2014 at 10:28 am - Reply

It brings so much hope to see big business owners who started nowhere and have

established such big businesses and continue to grow. Thank you very much for this

article, I really believe that if it happened to them any one can do it

Robert Apol inary May 30, 2014 at 10:56 am - Reply

The article is real occupying the mind, its very hard to achieve all that, however, not

everybody is such lucky!!!!

Rahul S ahni May 30, 2014 at 11:59 am - Reply

Inspirational! If this is not motivating then nothing can!

mojaki sekhalo May 30, 2014 at 12:55 pm - Reply

im an entrepreneur in electrical business i would kindly request a bit of information on

how to modify my business into a wealthy empire.bmh electrical

Masoma May 30, 2014 at 1:28 pm - Reply

i'm really fascinated by these true stories.I have just noticed that nothing is gonna hold me

back once i have a persevering heart and the desire to succeed.

Mpumi May 30, 2014 at 4:39 pm - Reply

I am very amazed after seeing this people who were once poor now being Billionaires. I

am tired of being poor and want to learn how to go through into that step of being rich.

This gives hope that one day it will happen to me out of hard work and using my brains.

Ulysses May 31, 2014 at 5:19 am - Reply

I am really amazed and fascinated by the way these people do their things. As an

entrepreneur, I would really be pleasured to be mentored or be an apprentice of a person

like them

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