On August 16, 1999, Regis Philbin became the host of a new game show hitting the American market – Who Wants To Be A Millionaire? Contestants answered a series of 15 questions divided into three sections. You could walk away with any money you’d earned at any time, but you would lose the opportunity for the big pay out.
Three lifelines were available if you got stuck on a question. You could phone a friend, ask the audience, or choose 50:50 where two of the four answers were removed.
For the longest time, people in America have wanted to be millionaires. That’s why today is National Be A Millionaire Day. While being a millionaire today isn’t what it used to be, it’s certainly nothing to grouse about. Dave Ramsey encourages people to become millionaires and offers 7 baby steps to take to get you there1 and 10 habits of millionaires2.
According to the National Day Calendar –
- The United States has the most millionaires in the world, ranging from millennial millionaires to old money millionaires.
- The average millionaire owns at least three properties.
- 44% of millennial millionaires live in California.
- Only 1% of the population make up millionaires.
- About 3.3 millionaire households live in New Jersey.
- There are 21 million millionaires living in the U.S.3
In case you’re curious…
- Elon Musk (50 years old): Co-founder and CEO of Tesla. His net worth is $268 billion. He owns only 16% of Tesla, which means he invested in other companies to make his billions.
- Jeff Bezos (58 years old): Cofound and Executive Chair of Amazon. He is worth $150 billion. He owns 10% of Amazon. He also has ownership in Blue Origin, The Washington Post and cash8.
- Bill Gates (66 years old): He is the co-founder of Microsoft and worth $127 million. Interestingly, he only owns 1.9% of Microsoft, meaning he makes more money from his other investments with Cascade Investment LLC and cash36.
- Steve Ballmer (66 years old). As the highest stakeholder in Microsoft, Steve is worth $97.6 million. He also owns the LA Clippers and cash 93.
- Sergey Brin (48 years old): As a co-founder and current board member of Google, Brin has a net worth of $101 billion. He also has ownership in Alphabet, the innovative technology company that creates services like self-driving cars and smart glasses.4
Here’s something else to stretch your imagination. One billion = 1000 million. So, Elon Musk is a millionaire 268,000 times over.
Do you want to be a millionaire? Quite honestly, I don’t and never have. I’m not suggesting that there’s anything wrong with being a millionaire and having money. If you’ve got it, well, praise the Lord! But it’s just never been appealing to me. There are too many dangers associated with having money.
Consider these warnings in Scripture:
Proverbs 23:4 Labour not to be rich: cease from thine own wisdom.
Proverbs 28:20 A faithful man shall abound with blessings: but he that maketh haste to be rich shall not be innocent.
Proverbs 28:22 He that hasteth to be rich hath an evil eye, and considereth not that poverty shall come upon him.
1 Timothy 6:8-10 And having food and raiment let us be therewith content. (9) But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition. (10) For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
1 Timothy 6:17-19 Charge them that are rich in this world, that they be not highminded, nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy; (18) That they do good, that they be rich in good works, ready to
distribute, willing to communicate; (19) Laying up in store for themselves a good foundation against the time to come, that they may lay hold on eternal life.
There is so much more to live for than money. It’s better that we strive for contentment rather than wealth or things. Pursuing that will be more valuable to us in the long run. Paul found this to be true, and he stated it for all of us in Philippians 4:11. “Not that I speak in respect of want: for I have learned, in whatsoever state I am, therewith to be content.”
1https://www.ramseysolutions.com/dave-ramsey-7-baby-steps
2https://www.ramseysolutions.com/retirement/habits-of-millionaires-and-billionaires
3https://www.nationaldaycalendar.com/national-day/national-be-a-millionaire-day-may-20
4Ibid.
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