In one corner of Manoj Bhargava’s office is a cemetery of sorts. It’s a Formica bookcase, its shelves lined with hundreds of garishly colored screw-top plastic bottles not much taller than shot glasses.
One afternoon last August, at a hospital on the outskirts of Los Angeles, a former beauty queen named Emma Coronel gave birth to a pair of heiresses. The twins, who were delivered at 3:50 and 3:51, respectively, stand to inherit some share of a fortune that Forbes estimates is worth a billion dollars.
Any reporter who shows an interest in Prince Alwaleed Bin Talal of Saudi Arabia can expect at some point to get a little gift from His Royal Highness.
Like so many accidental entrepreneurs, Sara Blakely just wanted to solve a personal problem. She loved to wear tight-fitting pants with sandals but couldn’t find the right undergarment to give her a smooth derriere.
For those keeping score, a “short-term gain” for a 23-year-old who still lives in his dad’s house now apparently equals three-quarters of a billion dollars. In going for the long gain, Spiegel will either become the next great billionaire prodigy or the ultimate cautionary tale of youthful hubris.
UPDATED: SEPT 29TH, 2014 - Thanks to a buoyant stock market, the richest people in the U.S. just keep getting richer. That has made it harder than ever to join the ranks of the 400 wealthiest Americans. The price of entry to The Forbes 400 this year is $1.55 billion, the highest it’s been since Forbes started tracking American wealth in 1982.
The Instagram story will surely inspire aspiring tech entrepreneurs around the world. Answers by Systrom on the leading Q&A site, Quora, offer glimpses of how the 28-years-old entrepreneur managed to build a $1 billion startup in just 2 years.