I was recently listening to an episode of Founders where they were talking about the book “Working Backwards: Insights, Stories, and Secrets from Inside Amazon“. One quote that they shared really stood out to me:
“I know a bunch of middling entrepreneurs, who aren’t that successful, and they don’t read at all. And then yet I spend time with all these billionaires and they read all the time. It’s like, why do billionaires read so much?”
The question is kind of tongue-in-cheek, but there are a few ways to think about it. The main thought I had was this: do billionaires read more because they’re billionaires and they have more time to read, or did all of that reading help them get there?
- Bill Gates was a voracious reader earlier in life, and today he still reads more than almost anyone.
- Before he co-founded Paypal, and way before he became the CEO of Tesla, Elon Musk would read for up to 10 hours every day.
- Charlie Munger said that his kids used to “think I’m a book with a couple of legs sticking out.”
Of course, many of us didn’t read as much as we should have in our younger years, but that doesn’t mean we get to just bail on it. Starting today is better than starting tomorrow. For example, I don’t know about their earlier lives but:
- Warren Buffett spends 5-6 hours a day reading, often newspapers and financial documents.
- Mark Zuckerberg tries to read a book a week “with an emphasis on learning about different cultures, beliefs, histories and technologies”.
- Mark Cuban reads three hours every day, and he says that this worked wonders at the start of his career.
Charlie Munger summed it up very well when he simply said: “In my whole life, I have known no wise people who didn’t read all the time — none, zero.“
It’s easier said than done, for sure. Between your work and your family, not to mention entertainment and rest, finding time to read can be challenging. The good thing is, it’s unlikely that anyone is forcing you to do it so it’s entirely up to you.
FAQs
According to Pew Research, the typical American reads about four books a year. Compare that to the reading habits of American billionaire Bill Gates. He doesn't simply outpace an average reader, he's on an entirely different level; he powers through an astounding 50 books each year. That's about one book per week.
Why do the world's richest people read so much? ›
On average, a millionaire reads 4 books a month which totals to an average of 52 books a year, helping them grow and build their empire. Another thing to note is that they don't just read fiction novels - they read non-fiction self-help books because one good idea could be worth millions of dollars.
Did Mark Zuckerberg read a lot? ›
Zuckerberg is a voracious reader who has said that reading helps him learn about new things and test his own understanding.
Does Jeff Bezos read a lot? ›
The billionaire also reportedly maintains a lifelong habit of reading, particularly favouring novels, especially science fiction. Bezos has often credited his passion for reading with inspiring the creation of Amazon's online browsing experience, which revolutionised the way people shop for books.
How many hours a day do billionaires read? ›
Turns out, both today's wealthiest people like Elon Musk and O.G. thought leaders like Benjamin Frankin owe part of their success to the "5-hour rule," in which they spend at least one hour a day, five days a week reading, reflecting, and experimenting with new information.
Why do self-made millionaires read? ›
Reading certain specific books — this is what the self-made millionaires do to help increase their wealth. You don't have to do a lot. 15 to 20 minutes is all it takes to develop more knowledge, to build your knowledge-base and to improve yourself.
Why does Elon Musk read so much? ›
Musk's reading extends to subjects like physics, engineering, science fiction, and even philosophy. His extensive reading helps him think creatively and approach problems from various angles, contributing to his innovative ideas.
How many books do billionaires read a month? ›
Bezos isn't the only one who has made reading a winning habit. From Warren Buffett to Elon Musk and Sara Blakely to Microsoft CEO Satya Nadella, life-long learners make reading a daily habit. A Harvard study found that top-performing CEOs (and most billionaires) read more books than average, up to four books a month.
How much did Bill Gates read a day? ›
Bill Gates reads for 3 hours a day.
How much does Elon read a day? ›
How many hours a day does Elon Musk read? Before Elon Musk became the owner of Tesla, he read for 10 hours a day. It helped him build confidence, empathy, decision-making, and other skills that are crucial to being a business owner.
Bill Gates has developed a habit of reading up to an impressive 150 pages per hour, which is an outstanding reading speed for anyone.
Who has read the most in the world? ›
Chandra Mohan Jain (better known as Acharya Rajneesh or simply OSHO), a Indian spiritual leader active in 1970's and 80's, claimed to have read over 150,000 books. By modest estimates, if we assume he read continuously for 48 years (he lived for 58), it comes out to be 3,000 books a year.
Does Elon Musk read a lot of books? ›
How many books does Elon Musk read a day? Elon Musk used to read two books a day, according to his brother. He probably reads much less now since SpaceX and other projects take up most of his time.
Do billionaires read a lot of books? ›
Bill Gates was a voracious reader earlier in life, and today he still reads more than almost anyone. Before he co-founded Paypal, and way before he became the CEO of Tesla, Elon Musk would read for up to 10 hours every day. Charlie Munger said that his kids used to “think I'm a book with a couple of legs sticking out.”
Who is the most respected billionaire in the world? ›
Elon Musk is now the richest person and man in the world. He is the CEO of several prominent companies, including electric car manufacturer Tesla and space exploration company SpaceX. He currently possesses a 12.86 percent stake in Tesla.
