How The Internet Age Produced Billionaires Faster Than It Was 20 Years Ago

By Dan M. Shahar 

Here’s a fact: The Internet has moved the information age single-handedly. Thanks in part to the geniuses who decided to sell one thing online, the Internet has made billionaires faster than any industry ever could. It’s possible to start an internet startup today and reach billionaire status in 5 years or less. Heck, there’s even a to-do formula on getting rich via the Internet.

Some virtual real estates are even more expensive than physical real estates

Some virtual real estates are even more expensive than physical real estates

The facts do not lie. Of the many billionaires in the world, a chunk of them come from the Internet sector – an industry called online retail or online service. Chief among them is Amazon, Google, eBay, Facebook and Alibaba. Together their net worth is close to a Trillion dollars. Their CEOs and founders are earning up to a hundred million dollars per month on average. 

But how did it all start? 

What made them billionaires in such a short time using only the Internet? There’s only one word for that – Niche. By creating a unique service that can fill a need of a niche market, you can build a business on that. Simply put, you can corner that customer base by making a service that’s completely your own. Niche marketing is an idea – one simple concept that could provide the buying public what they want. And it’s almost impossible to determine what that is. 

Search engines such as Google and Yahoo! which offers free search results have generated billionaires at an amazing rate

Search engines such as Google and Yahoo! which offers free search results have generated billionaires at an amazing rate

As far as needs go, there’s plenty to go for. So if you find that one unique idea, you can capture and dominate that market. Once you do that, your next step would be perfecting your platform. Google was able to dominate the world of search engines by developing a ton of services. Amazon became the top online retail giant when they defined a sector which is the streamline of all businesses – customer service. eBay also followed suit by finding a fun way that allowed you to bid and trade goods online.

What do they have in common? 

They have a unique feature – a niche that they exploited and then later on developed to beat out other competing businesses. In essence, you can’t run a successful startup if your company is copying off somebody’s secret formula. You have to standout, to find that one niche which isn’t saturated in terms of market share. Zappos did it when they sold shoes at a time when no shoe company ever thought of selling online. 

E-Commerce sites have sprung up like mushrooms. Popular sites such as Amazon.com and Zappos have produced billionaire and multi-millionaires

E-Commerce sites have sprung up like mushrooms. Popular sites such as Amazon.com and Zappos have produced billionaire and multi-millionaires

Most startup companies that have seen growth within the past 10 years all drink their own Kool-Aid. They beat to their own drums, as they say. Meaning that their own formula to success is not entirely written down in a book that one can follow. Trial and error is the name of the game. Becoming a startup founder isn’t a matter of standard formulas, you’d have to be prepared to give up your soul to finance and move it forward. 

Social media such as Facebook and Whatsapp have also produced its own genre of billionaires at an amazing rate. This has never happen before in history!

Social media such as Facebook and Whatsapp have also produced its own genre of billionaires at an amazing rate. This has never happen before in history!

Never underestimate the power of one lowly internet startup company, because time is good to them like never before. They’ve proved that in a matter of a few short years and with enough dedication, anyone can become a billionaire online. The rest of the world may not know you by name but your service could be widely used for years to come. Just ask Sean Parker of Napster how he made his first $2.1 Billion and you’ll realize why that’s possible now and not later. 

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"If I have seen further than others, it is by standing upon the shoulders of giants." Isaac Newton

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References:

Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

Wikipedia (Greatest site on earth for lots of information)