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15 Billionaires Who Were Once Dirt Poor

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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.com
Author: Vivian Giang

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

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11 Comments
Latif a 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
sanel e zaca May 30, 2014 at 7:33 am - Reply
wow! Harold Simmons... Wow!
Sandil e Ntombel a 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
Smonds 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 Sahni May 30, 2014 at 11:59 am - Reply
Inspirational! If this is not motivating then nothing can!
mojaki sekhal o 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.
Ul ysses 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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