Millennials Struggle with the Theory of Hard Work
by Amy Lignor
With the political fight that’s occurring out there, the theory of what hard work really means is a subject of discussion. Take the present-day billionaires in the millennial category. There are those out there who are extremely jealous of those people who reached the top before they were thirty years of age. And when I say top, I mean top! They are worth more at their young ages wealth-wise than the majority of us who struggle and work hard on a daily basis to just keep up with the rent payment. But…have these young billionaires worked hard for what they have? Well, it all depends on how hard you think it is to learn technology, steal someone else’s idea, or inherit. Would these three case scenarios fit your definition of “hard work?” Not at all. In fact, it’s still the collective thought (all polls and studies show this) that people believe hard work comes with sweat. And the millennial billionaire category doesn’t seem to include these types of people whatsoever.
In 2016, Mark Zuckerberg, the Facebook prince, is worth $50 billion dollars or more. He remains atop the list of richest individuals under the age of 35, while ranking 6th on the Forbes list of richest billionaires in the world. He created a computer program/website that took over the universe, or close to it. But did he sweat at a first job? Selling door to door? Working at a factory until his fingers fell off? Not even close.
Lukas Walton hasn’t even reached 30, yet is still worth a whopping $11.2 billion. Did he work incredibly hard for those figures? Actually, no. He was simply born into a family by the name of Walton whose lineage had founded Wal-Mart. His grandfather, founder Sam Walton, died in 2005 leaving Lukas a sizeable portion of his estate.
Dustin Moskovitz is a millennial billionaire who was part of the Zuckerberg/Facebook majesty. Working on the website in its very early stages, Dustin then co-founded a maker of project-management software for businesses called, Asana. Brain needed, hard work and sweat was not.
Eduardo Saverin, with a net worth of $7 billion, was the one ostracized in the very popular Facebook battle. (Facebook produced a great many billionaires, did it not?) However, his roots are those of an extremely wealthy family. After being forced out of the Facebook realm, he is still part owner of the famous “social network” and settled with Zuckerberg for a ton of cash…out of court.
Are we bashing these people? Saying they don’t deserve what they have? Not at all. We are simply talking about the reality of what “hard work” really means. There are a multitude of entrepreneurs out there – young men and women who do have a fantastic “idea” but must scramble and work hard day and night to achieve success. Do we really want that generation to believe that “Shark Tank” is the only way an entrepreneur can make it, even when they have the ability and passion to work until they drop?
Why not ask these people….
Kenny Troutt is the founder of Excel Communications. Unlike the millennial technology brains listed above, Kenny actually paid his own way through college by selling life insurance. His net worth is well over a billion, but he actually grew up and worked many hours of overtime to bring Excel Communications to life in 1988. Merging with Teleglobe in a $3.5 billion-dollar deal a few years later, he now spends his time with the many racehorses he invests in.
Howard Schultz has his memories of the poor housing complex he grew up in. He has stated that he always felt like he was living “on the other side of the tracks.” Ending up winning a football scholarship to the University of Northern Michigan, he went to work for Xerox after his graduation. Taking over a small coffee shop called Starbucks, he became the company’s CEO in 1987, and ended up producing coffee stores worldwide that have longer drive-thru’s than McDonald’s and Burger King combined.
Ken Lagone’s parents were hard workers; Dad was a plumber, Mom was a cafeteria worker sweating out the hours. But they were also parents who mortgaged their home in order to pay for their son’s college tuition. Billionaire, Ken Lagone, was certainly thankful and he worked many thankless odd jobs to help the family out. He had no idea his and his family’s hard work would pay off and give him a future that involved taking Electronic Data Systems (HP) public. Two years after that, he partnered with Bernard Marcus and began the beloved Home Depot, which also went public in 1981.
What this lesson should teach all millennials who have that “great” idea and haven’t been able to get on the TV show, or perhaps back stab their friends to get rich, is that with hard work, passion, dedication, and a lot of nights eating white rice from the microwave because you just can’t afford anything else – you, too, can become a billionaire. And like Troutt, Schultz and others before them, you will always own that pride knowing that each dollar of your billion was made with real hard work.
Source: Baret News