5 Inspiring Rags-to-Riches Stories
Rags-to-riches stories are not told to just invoke publicity and admiration for the struggles of respective individuals. These stories serve as a source of inspiration for entrepreneurs around the world. The stories of these individuals help you to form an idea about how to achieve success or become successful in your industry or any other industry for that matter.
Here are some of the famous and biggest rags-to-riches stories:-
Larry Ellison
Larry Ellison came from the slums to co-found Oracle. Born on the Lower East Side of New York at the time of the second World War. When he was young he contracted pneumonia and was sent to live with his relatives on the south side of Chicago. His early life was full of struggles, but despite these obstacles, he educated himself and joined Software Development Laboratories, in 1977. This was a crucial step in his career trajectory as later this company became Oracle. This company generates revenue around $38 billion per year. Later in 2014, Ellison stepped down as the CEO of the company, managing to accumulate over $46.2 billion in net worth.
Do Won Chang
Do Won Chang worked three jobs to sustain himself. Now he is the person behind the famous fast fashion brand, “Forever 21“. At a young age, he immigrated to the U. S. A. from South Korea. Before he became the founder of Forever 21, for three year, he simultaneously worked three jobs as a gas station clerk, a janitor and a coffee shop employee. He opened his first clothing store in 1984. He saw an opportunity and took the advantage of the benefits of “fast fashion”. It is now a multinational company and has 480 locations across the globe. He managed to generate $3 billion per year.
John Paul DeJoria
John Paul DeJoria operated his business from his car. DeJoria was a first generation American, born in Los Angeles. At the age of ten he sold Christmas cards and newspapers. He was a member of a gang and life ahead seemed disastrous for him. Instead, he later created John Paul Mitchell Systems by taking a loan of $700. He lived out of his car and was a shampoo salesman, selling it door to door. Later he diversified his business into diamonds, mobile phones and alcohol.
Zdenek Bakala
Zdenek Bakala is a leading coal entrepreneur in the U. S. A. when he was 19, he fled from Czechoslovakia with only $50 in his pocket. He arrived at Lake Tahoe and once there, he got himself a job washing dishes at a casino. A few years later he got himself to attend University of California Berkeley and acquired an undergraduate degree. This opened doors for him to the banking word. In 1994, he returned to his homeland and opened a Credit Suisse office in Prague.
Dhirubhai Ambani
The founder of Reliance Industries in the earlier years of his life sold snacks. He was born to a school teacher in rural Gujarat. During the sixties, he lived with his wife and kids in a one room chawl. He started Reliance Industries with $1000 and now the company comes under the top 100 companies of the world.
These rags-to-riches stories are extreme examples of entrepreneurs who had nothing to their name but worked their way up to the top. You can also do it if you put your mind to it. Make sure you have the knack for it because the road to success is a bumpy one with a lot of struggles and hardships. Don’t be afraid to take risks and make informed decisions.
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Sonal Singh
Hello, I'm Sonal Singh. Hope you liked and found the above article helpful. Do let me know in the comments below. Have a nice day.
