The famous American billionaire Bill Gates didn't just found Microsoft to become one of the richest people in the world, but he achieved that through long-term thinking, building smart habits, and maintaining his constant curiosity.
Gates shared many principles that can help anyone, regardless of their salary, to increase their wealth over time. Here are five tips Gates offered on different occasions to grow your wealth, build resilience, and start thinking like a billionaire.
Master timeless skills
Gates learns throughout his life. He reads dozens of books each year and still sets aside time for deep study. Gates said in an interview with The New York Times, 'Reading is still my primary way of learning new things and testing my understanding.'
He is particularly optimistic about learning programming, data analysis, or understanding science and systems thinking, but it doesn’t necessarily have to be technical. According to Gates, it’s important to acquire skills that add long-term value and can grow with you, such as writing, solving complex problems, and leading a team.
Stay optimistic even with slow progress
Bill Gates said during his speech at Stanford University's graduation in 2014, 'Even in the toughest circumstances, optimism fuels innovation and leads to new approaches that alleviate suffering.'
The same principle applies to building wealth. If you're starting from scratch, it’s easy to feel like you’ll never get ahead, but optimism coupled with hard work is what drives you forward.
Gates emphasizes that wealth is not built overnight; it is built by people who believe in the importance of their efforts and continue to work even if things don’t seem impressive or fast.
Save and invest consistently
Gates said in a television interview, 'Save like a pessimist and invest like an optimist,' meaning prepare for emergencies but don't let fear keep you on the sidelines forever.
Gates always kept enough cash to run Microsoft for 12 months without generating any revenue, while at the same time investing in innovations that changed the world, such as the internet, software, and clean energy long before they became popular.
Gates clarifies that if you want to grow your wealth, build a safety net, but also learn how to recognize long-term opportunities and act on them.
Don't confuse being busy with being effective
For years, Gates believed that a busy schedule was a sign of a serious leader, until the famous investor Warren Buffett changed his perspective. Gates recalled in a conversation with Buffett and Charlie Rose, 'I remember Warren showed me his daily schedule. There were weeks when there was nothing at all.' At that time, Gates was booking every minute and thought that was the only way to run a company.
By observing Buffett, Gates realized that the constant rush from one task to another was not necessarily a sign of productivity. Since then, Gates has become more mindful of his time and learned the importance of rest for making wiser and smarter decisions.
Pay attention to global trends
Throughout his career, Gates has consistently been ahead of his predictions for the future of the world. He founded Microsoft during the software revolution and then later focused his philanthropic work on global health threats long before pandemics topped the headlines.
In a post on the social media platform X -formerly Twitter- directed at university students, he said that if he had to start building his wealth today, he would study artificial intelligence, energy, and life sciences.
Gates always encourages looking toward the future. So, if you’re choosing a side job, investment, or career path, don’t just look at what’s trending now but look at what will make a significant change in the next decade.