Wealth and success are not confined to the energetic excitement of youth. Instead, they sometimes seem to favor the relentless perseverance and wisdom that comes with age. It’s a testament to perseverance, smart investing, and perhaps a sprinkle of good genetics that some of the world’s wealthiest individuals are amongst its oldest.
This elite group showcases that age can be just a number while wealth accrues over a lifetime of hard work, innovation, and strategic decision-making.
In this article, we will unveil ten of the oldest millionaires who not only have impressive bank accounts but also boast fascinating life sagas that provide a blueprint for aspiring entrepreneurs and investors.
List of the World’s Oldest Millionaires
1. Charlie Munger
Charlie Munger, the vice chairman of Berkshire Hathaway and right-hand man of Warren Buffett, is a venerable figure in the world of investing. Born in 1924, Munger’s wisdom and investment philosophy have been pivotal to the conglomerate’s success.
Despite facing personal tragedy and setbacks, he has maintained a long-term approach to investing, emphasizing discipline, and the value of understanding multiple disciplines.
His wealth, accumulated over decades, is a testament to the power of compound interest and intelligent partnership.
2. Warren Buffett
“The Oracle of Omaha,” Warren Buffett, born in 1930, is perhaps one of the most famous investors on the planet and a true testament to accruing wealth over time through savvy investments. As the chairman and CEO of Berkshire Hathaway, Buffett has become synonymous with value investing — carefully selecting stocks based on intrinsic value and holding them over the long term.
His approachable demeanor and plain-spoken wisdom have made him a popular figure. Despite his age, Buffett continues to lead his company and shape the investment world.
3. George Soros
Born in 1930, George Soros is a name synonymous with investing acumen. He is most known for his Quantum Fund, which once earned the moniker “the most successful hedge fund in history,” and for his role in “breaking the Bank of England” in 1992.
Soros is also a philanthropist, having donated billions through his Open Society Foundations. His ability to foresee market trends and make bold moves has been at the heart of his financial successes.
4. Sheldon Adelson
Sheldon Adelson, who passed away in January 2021, was one of the oldest millionaires at the time of his death. Born in 1933, he was the CEO of the Las Vegas Sands Corporation. Starting from humble beginnings, Adelson created a multi-billion dollar empire in the casino and resort industry.
His story is a powerful narrative of entrepreneurship, showing how vision and determination can lead to unprecedented success.
5. Liliane Bettencourt
Until her passing in September 2017, Liliane Bettencourt was not only among the oldest millionaires but also the world’s richest woman. She was born in 1922 and was the principal shareholder of L’Oréal. Her wealth was inherited from her father, the founder of the cosmetics giant, but also grew through her own savvy investments and business decisions.
Her life and wealth were often under intense media scrutiny, emphasizing the challenges that can accompany immense wealth and family legacy.
6. Karl Albrecht
Before his death in July 2014, Karl Albrecht was Germany’s richest person and one of the oldest millionaires globally. Born in 1920, he co-founded Aldi with his brother Theo, which revolutionized the retail industry with its discount supermarket chain model.
Albrecht avoided the public eye, but his impact on retail strategy and consumer habits is unmistakable. His commitment to simplicity and cost-cutting can be seen in Aldi stores worldwide today.
7. Sumner Redstone
Before passing away in August 2020, Sumner Redstone, born in 1923, was a significant figure in the media industry. He was the majority owner and chairman of the board of National Amusements, which in turn controls both Viacom and CBS.
Redstone’s bold acquisitions illustrate the transformative power of strategic business maneuvers. His influence reshaped the entertainment landscape and created a substantial personal fortune.
8. Kirk Kerkorian
Kirk Kerkorian was known as the “father of the mega-resort” until he died in June 2015. Born in 1917, Kerkorian’s business ventures spanned airlines, automotive, and particularly the hotel and casino industry in Las Vegas.
Tending to shun the spotlight, he nevertheless carved out massive deals that shaped industries. Kerkorian demonstrated that a keen eye for opportunity could build a legacy, even from the most modest beginnings.
9. David Rockefeller
A member of the renowned Rockefeller family, David Rockefeller Sr. was the oldest living member of this storied family until his death in March 2017 at the age of 101. Born in 1915, Rockefeller was the former chairman and chief executive of Chase Manhattan Corporation.
His banking career was marked by innovation and global expansion, establishing relationships that bridged political divides during the Cold War. His philanthropy and commitment to global banking have left a lasting imprint on finance and foreign policy.
10. Karl Wlaschek
Karl Wlaschek was five years shy of becoming a centenarian when he passed away in May 2015. He was born in 1917 and founded Billa, Austria’s largest retail chain, which he later sold for a considerable profit.
Wlaschek went on to become a real estate tycoon, owning numerous properties across Europe. His story is one of reinvention and resilience, proving that entrepreneurial success can come at any stage of life.
FAQs
Who are considered the “oldest millionaires in the world”?
The “oldest millionaires in the world” refer to individuals who are not only advanced in age but who have also amassed substantial wealth during their lifetime. This group often includes successful entrepreneurs, investors, and business magnates who have either built or inherited their fortunes.
What is the secret to these millionaires’ longevity and continued success?
The secret to the longevity and continued success of these millionaires often lies in a combination of factors, including healthy lifestyles, active engagement in business or philanthropy, prudent investment strategies, and adopting a long-term perspective towards wealth accumulation.
Can wealth contribute to a longer lifespan?
While wealth can contribute to a longer lifespan by affording better healthcare, nutrition, and reduced stress related to financial insecurity, it is not the only factor. Genetic predispositions, lifestyle choices, and access to quality medical care also play significant roles in determining lifespan.
How do these millionaires maintain their wealth as they age?
These millionaires maintain their wealth as they age through a variety of strategies, including diversified investments, careful estate planning, involvement of trusted financial advisors, and sometimes involving younger family members or colleagues in the management of their assets.
Are there any female millionaires on the list of the oldest millionaires in the world?
Yes, there are female millionaires on the list. One prominent example was Liliane Bettencourt, the principal shareholder of L’Oréal, who was the world’s richest woman until her death in 2017.
Final Thoughts
The extraordinary lives of the oldest millionaires in the world serve as a compelling narrative about the intersection of time, wealth, and influence. These individuals have not only shaped industries and economies but their legacies offer valuable insights into the endurance of success and the importance of adapting to change. Their stories defy the notion that wealth creation is a young person’s game and highlight that experience, wisdom, and strategic foresight are equally, if not more, valuable.
Whether through innovation, investment, or inheritance, the eldest millionaires serve as guiding lights for what is possible in a lifetime. As we reflect on their journeys, we recognize that wealth amassed over many years can have profound impacts far beyond the confines of age.
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