Billionaires like Warren Buffett, Elon Musk, Mark Cuban, etc. are people who have succeeded by building their own business empires. Besides, they also constantly increase their assets through investment activities.

Although their financial advice sometimes seems too simple or even absurd, when applied to situations, you will see their usefulness. In the article below, VMP Academy will summarize 6 pieces of advice from billionaires that will help you 'make money'. Let's take a look!

1. Warren Buffett: The 'hotter' it is, the more you should avoid it

Warren Buffett, founder and CEO of Berkshire Hathaway, is considered one of the most successful investors of all time. He is famous for his view that investment should be based on solid fundamentals and a reasonable business model of the company.

According to billionaire Buffett, the process of choosing a company should be based on careful calculations, instead of just paying attention to current popularity or future predictions. He believes that it is better to invest in quality companies with growth potential, instead of chasing the hottest names at a certain time.

2. Billionaire Mark Zuckerberg: Act fast and break barriers

We often procrastinate because we are afraid of facing difficulties. However, if you procrastinate, it means you will miss out on opportunities for yourself. Therefore, it is necessary to act decisively and do everything quickly, breaking down your own mental barriers.

Mark Zuckerberg implemented this tactic by quickly acquiring Oculus, although many consultants said that acquiring this company too quickly can carry many risks.

"When you are faced with the decision to acquire a potential company, you often do not have much time to think" - Billionaire Zuckerberg shared about the importance of action in work.

3. Mark Cuban: Stay Away From the Stock Market

Mark Cuban, owner of the Dallas Mavericks and one of the investors on “Shark Tank,” is not shy about sharing advice with investors.

According to billionaire Mark Cuban, the stock market is arguably one of the worst ways to invest. If you are not clear about what you are investing in, you should not put your money in it just because a broker tells you to.

Mark Cuban also suggests that for investors who do not have a deep understanding of the market, the “best bet” is to invest in an S&P 500 index fund.

The S&P 500, or Standard & Poor’s 500 Stock Index, is a stock index based on the market capitalization of 500 large companies on the United States stock market. This index helps provide an overview of the overall performance of the US stock market.

4. Bill Gates: Accept and calculate risks

Bill Gates has achieved much success after co-founding Microsoft and building his personal fortune to over $100 billion (about 2.3 quadrillion VND). However, to achieve this, he had to face risks in both business and investment.

According to billionaire Bill Gates, whether investing a small amount of money or a large amount of money, the decision is always carefully evaluated. He takes time to review, analyze data and consult with experts to ensure that decisions can create value and make positive contributions.

Bill Gates also emphasized that, sometimes, in the process of solving big problems, progress cannot be measured in years but often lasts for decades. In such cases, the ultimate goal remains the same, but there may be a need to adjust the strategy or direction to achieve it.

5. Elon Musk: Buy When You Believe, Don’t Sell When the Market Is Fluctuating

Elon Musk, CEO of Tesla and SpaceX and founder of Neuralink and The Boring Company, is often known for his outspoken and controversial statements. Whether you agree or disagree with Elon Musk’s statements, there’s no denying that he is the richest person in the world. So, it’s not a bad idea to take a look at his money philosophy.

Notably, Elon Musk’s investment philosophy is similar to Warren Buffett’s. It’s based on investing in companies with sound business models.

According to Musk, “Buy stocks of companies that produce products and provide services that you believe in. Sell stocks only when you see that the company’s products and services are on the decline. Don’t panic when the market shows signs of deterioration.”

6. Jeff Bezos: Work-Life Balance

Jeff Bezos, founder of Amazon, has built a company with global sales that rival Walmart. Part of Bezos’ success is due to his relentless work ethic.

However, according to billionaires’ advice – Jeff Bezos, there’s no need to put a clear line between work and personal life. He believes that questioning work-life balance can be stressful, because it feels like one thing has to come at the expense of the other.

Jeff Bezos believes that we can be happy at work and at home without having to separate them. “If I’m happy at home, I’ll come into the office with positive energy,” he says. “And if I’m happy at work, I’ll come home with the same level of readiness and energy.”

Learning the advice of the billionaires that UMM has compiled above can help us create opportunities and success in our careers and lives. Do not hesitate to apply these philosophies and understand that success requires responsibility, hard work and the ability to learn from every experience. Take advantage of these valuable tips to "make money" for yourself and your business.