As the song of Travie McCoy and the very popular Bruno Mars goes, “I wanna be a billionaire so freaking bad, buy all of the things I never had…uh, I wanna be on the cover of Forbes magazine, smiling next to Oprah and the Queen.”
Now isn’t that just everybody’s dream? To wake up one day and say out loud, “Wow, I’m a billionaire!” And you will see a magazine issue of Forbes with you in the middle, in between Oprah and the Queen of England.
But what exactly is a billionaire?
You are a billionaire if you have assets or a net worth of at least one billion (that is $1,000,000,000.00 – a number followed by nine zeroes but not including the cents), in any the following currencies: dollars, euros, or pounds. Countries such as China or Russia will need to convert their money into USD.
The next question is, what is Forbes?
Headed by Steve Forbes, a former Republican candidate, it is a type of media and publishing company. Although it was originally founded by Scottish immigrant B.C. Forbes in 1917. It was later run by Malcolm Forbes, Steve Forbes’ father, and B.C. Forbes’ son.
They provide daily news reporting on topics such as businesses, technologies, financial markets, personal finance, sports, and various others. But they are infamous for their list of the world’s richest people, leading companies, riches celebrities and the like. And every year, the magazine publishes its notorious list of the world’s billionaires. Originally having only 140 names back in its first list in 1987, it has grown to thousands, with 2,028 billionaires all around the world from 72 countries by 2018.
To top it all off, how does one become “billionaire-worthy” to be on the cover of Forbes Magazine?
As mentioned, you would have to have one billion in USD ($1,000,000,000.00). Once Forbes opens its doors for nominations and recommendations from respected entrepreneurs, executives, investors, and the edit team of Forbes relaying information, thousands of candidates come together across 20 fields.
The staff of Forbes then chooses about 60 finalists for each category. And then, independent industry legends pick the final 30 (note tat from thousands it goes down to just 60 and then half of it during the last round) of each category.
The categories include:
- Art & Style
- Consumer Tech
- Enterprise Tech
- Food & Drink
- Hollywood & Entertainment
- Law & Policy
- Manufacturing & Industry
- Marketing & Advertising
- Retail & Commerce
- Social Entrepreneurs
- Venture Capital
If you are ever in need of a role model, think Ryan Kavanaugh. In 2013, he was #19 in the list of youngest billionaires.
And who knows, singing the song up above will not mean a thing to you any longer.