• Blog
  • Trainings
  • Books
  • Subscribe
Menu
  • Blog
  • Trainings
  • Books
  • Subscribe
BOOK NOW
Facebook
Twitter
Youtube
  • Insights, Money, Success Principles, Wealth

The Richest Man in…

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on facebook
Share on twitter
Share on whatsapp

Yesterday, Forbes and CNN celebrated the emergence of a new richest man in the world, and announced the movement of Bill Gates to 3rd position, the first time in over 13yrs. I did a quick run through of the list of the world’s billionaire and marveled. India had managed to clinch, 4th, 5th and 6th position, putting themselves firmly in the top 10 richest men in the world. Another notable entrant into the billionaire list was Mark Zucherberg, now the youngest billionaire in the world.

The concept of riches and wealth never ceases to amaze me, it is said that questions are the answers that we seek. I have asked a variety of questions in my bid to understand the subject of wealth. Why are some people rich and some others poor? Why are some people paid so well, while some others are rewarded poorly? Why do some men sweat blood all day, only to earn peanuts in the night. Is there a hard and fast formula for predicting the wealth off an individual? Is there a prescriptive formula that all that desire enduring wealth must practice? Well, haven asked for long, sometime ago, I stumbled on the answer. This answer is original and more complete than most of the theorems I have heard.

There is a sure formula with variables that if altered, can be very indicative of the wealth the individual whose equation is being analyzed will have. If you want to know how much you should be earning today, just plug in your values in this equation. If you want to change your current routine, just plug in this equation and it will give you the impact of the change on your financial future. Do you know your worth? Do you know how much you should be earning per month? Is your employer cheating you, or are you cheating your employer? Use this wealth calculator and find out where you are headed.

Wealth = F{(Financial Worth of Value Added Services) * k(No of people value is added to)}

Defining the Parameters

Financial Worth of Value Added Services: This is the average percieved monetary value of any service/value that you are adding. This can also be seen as the amount above which the people to whom you are adding value are unwilling to pay. This worth of this value added is a function of scarcity of the skill required to perform the task. High skilled professionals will generate more value than lower skilled professionals. Scarce skills will have alarming values, while skills that are virtually general to anybody will have little or no value. It is also a function of the level of the need being served on Maslow’s Hierarchy of Needs. The lower levels are more valuable.

No of people value is added to: These are the number of people deriving the value that is being added. Some professionals work to serve only one person, some work to serve hundreds, some thousands and some millions.

K: K is the coefficient of perception. Not all the value one adds to the people one adds it is perceived correctly as value. There are some people who you add value to that are so far from you, they do not even perceive that the value comes from you. There are a variety of indices that do not allow wealth to be the direct multiplication of Worth and People, all these are summarized into K. K is less than or equal to 1. K approaches one as perception approaches reality.

In case this mathematical buhaha bores you, let me quickly educate you on what this means. Each profession has its financial worth. Any activity that adds value to another has financial worth. However you will not be wealthy by only participating in the high value professions, but by making sure that you increase the number of people your value affects.

In order to reinforce this point let us look critically at this formula. We can safely assume for example that the perceived value of a messenger’s job in Nigeria is $30, if he is performing this role for 20 people he’s going to earn more than if he was serving one person with the value. A typist is a higher skill, delivering higher value, but a typist that types for a road side company might not earn as much as a Chevron messenger. Why? Because the perceived value of the jobs differ from their actual values and the Chevron messenger is adding this value to a lot more people.

This formula plays well on the regular skills chart, where it becomes interesting is when you ask yourself why are footballers paid so much? It’s simple; the perceived value they are delivering is entertainment value and is very low on the scale of human needs. Footballers however earn so much because of the number of people they add the value directly to, and the coefficient of perception being almost 1 for them. The financial value of their service may not be more than $0.1, but they have over 10,000,000 people glued to the screens around the world per time. Same thing with musicians, actors, presenters, authors e.t.c.

World over it is being discovered that the sure way to wealth is not necessarily by increasing the value added, but by increasing the number of people to whom the value is being added. Bill Gates confidently hugged the number one position for 13yrs, and I believe his reign is not yet over. He did this by determining to add value to as many human beings in the world- His vision to get his software into every home, to take personal computing into every family. Warren Buffet has grown into the oracle of Omaha, the companies he affects, and the people who listen to his speculations easily make him well worth the position of the richest man in the world. Mark Zucherberg, is attaining billionaire status at 23, why? Because even though the value of facebook is arguable, the number of millions it commands is alarming. Dangote is well in the picture as well, for similar reasons and perhaps some others, but note, until Dangote shared his wealth and empowered others to gain from it, even though it was win-win for him, he never became known as Africa’s richest man.

Think about it, you, yes you can rise from obscurity to abundance, just by understanding this formula and applying it. What value can you add? Is it in writing, singing, programming, dancing, speaking, encouraging, counselling, teaching, helping, assisting, accounting, engineering, IT, e.t.c, just find a way to connect with a large audience, add your value on a bigger scale and your account will measure up with it. Consciously cultivate a network, be a part of one, give yourself access to more people, don’t worry if the money is not coming in yet, what you are putting in place is the structure to make it so.

The future belongs to the people with big networks. Either networks they cultivated, or simply by the good use of network TV, or by the use of internet (works). Whatever you do this year, think value, think network… and you’ll well be on your way to becoming the richest man in….

Adeolu Akinyemi

Adeolu Akinyemi

29 thoughts on “The Richest Man in…”

  1. ikenna
    March 8, 2008 at 5:43 pm

    Very good Insight

    Reply
  2. BIMBO
    March 8, 2008 at 6:56 pm

    nice one as usual. expository!

    Reply
  3. nike adenle
    March 8, 2008 at 8:03 pm

    Well said, adding value to a vast population is truly the key to wealth. The good part is that we have started the journey and by the grace of God we will definitely get there.

    @Deolu
    I replied your mail but i havent got any response from you yet, please i am still waiting and i hope i am not too late for the investment opportunities.

    Reply
  4. Michael Martin
    March 8, 2008 at 10:56 pm

    Hi Deolu,

    Another master-piece, keep up the inspirational work you are doing, its adding Value to the life of all readers of your blog.

    Also im still waiting for your reply regarding the opportunities and the book and it aint in my spam(i have checked it).

    Thanks

    Reply
  5. Tosin
    March 9, 2008 at 4:47 am

    Whao, I have not been thinking in that line………..this is another great one from the fountain of wisdom. God Bless you real good, Deolu.

    Reply
  6. emmanel
    March 9, 2008 at 7:16 pm

    Nice blog you;ve got here. Keep it up.

    Reply
  7. Ibi
    March 10, 2008 at 3:40 am

    Sallam Shalom ,
    Chairman,I am most impressed by India’s Sameer Gehlaut, who started online brokerage Indiabulls story in the list!

    Reply
  8. Olanrewaju O LEWIS
    March 10, 2008 at 9:26 am

    Let me use pidgin to describe my assessment and feeling – I just gbadun this post, as simple as it is, it speaks volumes of what is needed to catapult oneself to the very top which can only happen if the reader reads in between the lines.

    Still expecting your mail brother….

    Reply
  9. ABIDEMI
    March 10, 2008 at 10:33 am

    Great information!!!

    I can’t but comment on this great work. I think this must be one of the tonic that will shoot many Nigerians up to enter the list of the world wealthiest as “prophesied” by Dangote.

    Keep up the good work brother.

    Reply
  10. Christopher
    March 10, 2008 at 11:28 am

    This is good and i have learnt something different today . thnanks Deolu for constantly opening our eyes of understanding .

    Reply
  11. tunde opaleye
    March 10, 2008 at 11:50 am

    Thanks a whole lot.

    I guess the next lesson is how to actually make the network work and sustain it. And I guess the

    Wealth = F{(Financial Worth of Value Added Services) * k(No of people value is added to)}

    will also imply multiplied WOOOORRRRK!!!!

    Reply
  12. emeka
    March 10, 2008 at 1:50 pm

    read the story of mark zucherberg,founder of facebook and i “tripped”.at 23,he’s a billionaire!i really agree with you deolu!adenuga’s rich because he’s not just adding value to people but increasing the number of people subscribed to the glo network.he has millions of nigerians as subscribers and the money keeps coming in as people pay for the services.
    “wealth=F(finanncial worth of value added services)*k(no of people value is added to)”, i cant forget this!
    deolu this is a classic piece.

    Reply
  13. yomionileowo
    March 11, 2008 at 9:24 am

    Another thought provoking write up!

    You are on course to setting standards for all millionaires and millionaires-to-be.

    Keep up the good work, let me know if there is anyway in which I can contribute my own quota- lets spread the work.

    Building networks is key. Thanks, thanks, thanks………..

    Reply
  14. Ilemobade
    March 11, 2008 at 10:46 am

    Good points. Me think that Window Vista didn’t perform as much in the market as many pple still prefer Window XP. Probably Vista performance probably affected Gates similar to the same way ‘Super Chickens’ were affected by dropping good points after the Nations Cup fiasco in Ghana.

    Reply
  15. leye ayanlola
    March 11, 2008 at 1:05 pm

    this is powerful,the truth is , the principle to lasting riches is an eternal truth,even the bible support it,it says he that is faithfully in little is automatically faithful in much.Simply put’networking”.
    WATCH OUT WORLD
    am on my way

    Reply
  16. Samuel
    March 11, 2008 at 8:24 pm

    Well said chairman. In addition to your formula is Relationship and the Right Attitude to retain the people you add value to.

    http://www.imoisilis.com

    Reply
  17. Peter Oluokun
    March 11, 2008 at 11:01 pm

    Thanks Deolu, this is another master piece, very insightful. Infact i’m thinking seriously now using this formula to analyse and explain some ideas i have at hand, my confidence has increased to pursue them, thanks once again, your cruise of wisdom shall never run dry in Jesus name, amen.

    Reply
  18. anonymous
    March 13, 2008 at 3:50 am

    Nice piece….but i think his name is pronounced as Zuckerberg

    What you’ve said here can also be defined in terms of network externality

    The more the number of people connected to the network of services you provide the greater the value of your network

    http://en.wikipedia.org/wiki/Network_effect

    That can also be used to explain whats happening on your blog right now… ๐Ÿ˜‰

    Reply
  19. Wisdombrook
    March 13, 2008 at 7:18 am

    Chairman,
    very well articulated. Keep affecting people, we are on the train.

    Reply
  20. Derin O
    March 13, 2008 at 10:22 am

    Hmm,
    Great Piece!!! Food for thought.

    Well done

    Reply
  21. bukunmiomidiran
    March 13, 2008 at 3:41 pm

    Bill Gates’ wealth didnt drop because of Vista. Vista is a significant improvement over Windows XP in all ramifications and it works really fine.

    Billg’s wealth came down momentarily because Microsft put up a $48bn bid for yahoo. As you probably know, share price is majorly a matter of perception. Investors on hearing the news started selling off MS shares because they werent sure what the outcome of the merger would be. High suppy, low demand (albeit temporary) crashed the stock price and reduced Billg’s wealth. He’s sure bouncing back soon.

    Reply
  22. www.morakinyobeckley.blogspot.com
    March 15, 2008 at 5:42 pm

    This post is not only concise, it confirms the truth about success stories world over. The richest build networks and make money using the depth of the same networks they build. Have we stopped to imagine why property magnates for instance make more money from flats as opposed to duplexes? Or from chains of supermarkets rather than one? Or from filling stations and not just one filling station? From franchises like the Biggs and TFCs of this world are now coming to realise.

    Cheers Chairman as you construct the fabric of a worthwhile network. I’ll be there to snap up shares of Generis when you decide to go public or better still when you have a private placement.

    Reply
  23. Dewole
    March 16, 2008 at 7:41 pm

    this is a very insightful piece that has help put a vision i have had for a while into better perspective. Thanks, Deolu.

    @tunde opaleye: you mentioned that an increase in k {number of people value is added to} means more work; that’s true but one thing every successful entrepreneur knows is that an initial work investment must be made. That should be followed by an audit of the steps involved with a view to streamlining business processes so that you are constantly able to do more with less effort {increased efficiency}.

    The easiest way to do that nowadays is to put technology to use. If a step of your process is done the same way for every user, then it’s a candidate for automation and time/effort saving. But do be wary of technological investments that require too much capital to deploy.. there usually is a more cost effective option.

    Dewole

    Reply
  24. chuks ugoji
    March 18, 2008 at 1:56 pm

    ME,MYSELF and I have also thought of these riches that these men posess and marvel most times.
    Lest i forget, did i hear you say indians occupied 4th,5th and 6th position not withstanding the monetry policyin their country.
    wow

    Reply
  25. femi
    April 19, 2008 at 7:37 pm

    another wonderful piece on the value of networks. i guess introverts like myself really have to come out of our shells. Thanks dear, keep up the good work

    Reply
  26. OMOZELE
    June 4, 2009 at 1:24 pm

    very insightful. you are really correct. wealth is not defined byhow much you have in your account but how have you used the resources to add value to the lives of other. its not always about you.

    Reply
  27. IKOTUN ADEBISI
    June 4, 2009 at 2:22 pm

    wealth is a function of a man’s thought. the word of God says as a man thinketh in his heart so he is. wealth begins from nursing a thought to be wealthy, it gets fulfilled when resources are channeled towards making that thought a reality. THINK AND GROW RICH/ wealthy.

    Reply
  28. IKOTUN ADEBISI
    June 4, 2009 at 2:37 pm

    wealth acquired without consideration for value is as good as poverty. many people want to get rich without knowing the implication. wealth is what it is called when there is recognition of value.
    it is also important to note that the time we spend adding value and color to the lives of other people is what is define as WEALTH.

    Reply
  29. Babajide Adewale
    June 4, 2009 at 9:37 pm

    “wealth is not necessarily by increasing the value added, but by increasing the number of people to whom the value is being added”
    Value Added is the secret of wealth creation. the more lives affected the more wealth created.
    Oga Sir! I will still read this a gain, am sure then I will have a comment. For now just wanna say. Thanks.

    Reply

Leave a Comment Cancel Reply

Your email address will not be published. Required fields are marked *

Leave a Reply(Facebook comments)

Share on facebook
Share on twitter
Share on whatsapp

Meet Deolu

Many hold their audience spell bound with motivational speeches but few care to hold the audience by the hand and help them walk their way to financial freedom like he does. Many have failed at everything they have tried to do but everything he does turns to gold. Read more…

Facebook-f
Twitter
Youtube
Instagram

Weekly Tutorial

Recent Posts

Nigeria is 60 years Independent!

Read More ยป
the rich man and his lazy son

The Rich Man and His Lazy Son

Read More ยป

Does Godโ€™s Kingdom Have Principles for Financial Increase?

Read More ยป

Follow Us