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How to Get Rich by Felix Dennis is a captivating and informative guide that offers practical advice on wealth creation. Dennis, an English publisher, poet, and philanthropist, shares his journey of building businesses and amassing wealth.
Born in Kingston-upon-Thames, Surrey, Dennis grew up in poverty. His father left when he was three, and his mother, Dorothy, became a chartered accountant to support him and his brother. Despite these humble beginnings, Dennis went on to pioneer computer and hobbyist magazine publishing in the UK through his company, Dennis Publishing.
In his book, Dennis dispels three myths about getting rich
- People become rich by accident.
- People get rich by having a great idea.
- What people did to get rich before can’t be done today.
He emphasizes that the execution of an idea is a thousand times more important than the idea itself. He also asserts that anyone, regardless of their background, can become rich.
Dennis provides a table to show where you fall at different levels of total net worth
- $2-4 million The comfortably poor
- $4-10 million The comfortably off
- $10-30 million The comfortably wealthy
- $30-80 million The lesser rich
- $80-150 million The comfortably rich
- $150-200 million The rich
- $200-400 million The seriously rich
- $400-800 million The truly rich
- $800-1,998 million The filthy rich
- Over $1,998 million The super rich
Dennis’ principles for wealth creation include spotting emerging trends, taking bold risks, utilizing specific media assets, assembling talented teams, and avoiding over-diversification. He held the view that money should serve as a tool for personal and societal enrichment, beyond mere collection and expenditure.
Despite his wealth, Dennis lived a larger-than-life lifestyle, spending hundreds of thousands of pounds on drink and crack cocaine. However, he later sought fulfillment beyond business and pleasure, finding deeper purpose in poetry and ecological efforts.
In conclusion, How to Get Rich by Felix Dennis is a compelling read that provides valuable insights into wealth creation. It serves as a testament to Dennis’ unconventional path to wealth and happiness, making it a must-read for those with entrepreneurial ambitions and those interested in personal development. Click here to read other interesting articles in the field of finance.
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Books mentioned in the article: How to Get Rich by Felix Dennis
