Ten of the World’s Richest without College Degree

By P Chong                                 9 November 2011

 It’s said that some are born rich, others achieve riches and

still others have riches thrust upon them.

It’s found however, that if you’re gifted with a special talent

then riches will be yours to have.

Ten of the world’s richest persons are without college degree. They range from sportsmen, actors, singers, technologists and others. The common denominator is talent or special skill.

Now the question is whether education is at all essential for the road to riches. Not necessary so. There are evidences of professors or highly educated persons ending in poverty. In short, education is supposed to equip you for the life ahead of you. Really education is an unending process, that is why from the womb to the tomb, you’re always learning. Knowledge is dynamic & expandable.

Here are some questions to consider:

    • Need you go to school from the cradle to the grave?

    • What benefits do you hope to get out of education?

    • Will you really be able to apply your acquired knowledge to your life’s practical activities?

    • Can skill, talent, attitude & other positives be acquired through education?

    • In a word, will education ensure riches?

The following Ten are some of the world’s richest persons:

Here’s to show you the ‘Irony of Life’ :

Most ‘First Class’ students get technical seats, some become Doctors and some Engineers.

* The ‘Second Class’ pass, and then get MBA, become Administrators and control the ‘First Class’.

* The ‘Third Class’ pass, enter politics and Become Ministers and control both.

* Last, but not the least, The ‘Failures’ join the underworld and control all the above.

And those who do not attend any school, become Swamis and Gurus and Everyone goes to them.  


Smoke-Free Deli

Smoke-Free Deli


We used to have a delicatessen business for about seven and a half years in 1984. We were reputed for not selling cigarettes which was most unusual for any deli. This economic unsound business practice was by choice on the principle of health hazards of smoking.

Today most or all of these delis have suffered their economic demise. Small business, as like hardware stores, suffered sadly from the competition of supermarkets & service stations. (Kalamunda lies in Perth Hills of Western Australia).

ON TOP of old Kalamunda

With panoramic Perth down under

The air is clean, the scene serene

It really makes you sing.

Set in the centre of Kalamunda Town

Barberry Square Deli has great renown

It’s being called unusual, fantastic & strange

Because of the Deli’s incredible range.

Satay sauce & chilli, all are in store

With Asian ingredients & every spices more

Chocolates, lollies, ice-cream,cool drink

But without cigarettes, now that’s hard to thinkl!

“Why Paul, what sort of store do you run?

We come to play video game just for fun

Yet no cigarettes are here for sale

Surely this means your business must fail?”

“It’s true.” says Paul, “we did think twice

Before we banned the smoking vice.

But we believe that your good health

Is more important than our wealth.”

Paul Chong

A Chinese by Descent

An Australian by Consent

Money & Wealth

Money & Wealth


Two little key words to distinguish: need & want.

The first refers to a specific basic life’s necessity with varying limitations, but

want encompasses insatiable limits tending towards obsessive greed without creed.

Money is the root of all evils, so the famous saying goes. It is so claimed more by those particularly without money than by others who are wealthy. The fact of the matter is, it is our own doing with money that becomes our own undoing. Money by itself is not evil. How can it? It has no mind, will or desire on its own. It’s what you do with money that counts. You’ve got to be its master and not the slave to it.

Money is important, unless you’re living in the primitive world. In the modern world everything is run on money. Modern economy & our very existence revolve around money, without which all economic activities will come to a standstill. Remember money cannot buy you happiness, love, respect or honour (which must be earned), but the lack of it will make you miserably so.

What is money? Money is simply a means of exchange – be it in paper form or metal or even plastic material as credit & debit cards. With credit cards it needs to be emphasized about budget control. It’s so very easy to freely sign your life away charging all your purchases or services to your credit card. You can’t spend like hell and still hope to be swell. There’s always the question of payment. You’ve got to be in control especially when tempting offers seem to be overpowering.

Remember whatever you want – money, respect, honour, love or power, they’re all in the hands of others. Consequently, you need to earn them from others through some forms of service.

Before you can accumulate money, you’ve got to be money conscious, that is, to be aware of money forms. Everything is in the form of money – a house, a car, a holiday etc. Taking a step further, differentiate a lump of coal with a precious piece of diamond. Basically, they are of the same constituents, but structurally different. Diamond is the result of enormous pressure over a long passage of time. So if you want more money, you’ve got to put in more effort & time. There is no question of less work & more pay. Rewards are qualitatively & quantitatively measured.

Making money is one of the easiest things in the world – if you know how & if that’s what you want. Cash is the effect of a cause. You reap what you sow. What you sow must be in qualitative & quantitative terms. So consider first in rendering a truly valuable service, both qualitatively & quantitatively, before thinking of a bountiful harvest. Even in selling a product, the question of service is all important.

You can make money through the sale of an idea. Ideas in essence make money. Some of the richest & most successful men in the world began with a simple idea, for example, Colonel Saunders of Kentucky Fried Chicken. You’ll never know how valuable your ideas can be. Dr. Napoleon Hill of “Think & Grow Rich” fame says this:

“Whatever the mind of men can conceive & believe, it can achieve.”

So have faith in your ideas & you can build a fortune on them.

If making money is relatively simple, how come most people end in life missing the financial boat. The truth of the matter is we must plan & learn how to save. For the majority, it is only the question of spending. To them, the philosophy is money is no good unless you can spend it. True, you’ve got to be able to spend, but within budget.

A simple lesson in money management is:

  1. Pay yourself first by saving 10%. In so doing, you’re creating a good

    habit, which will give you a sense of financial security. You will be amazed what you can achieve if you establish such a habit. Remember, you deserve to be paid – don’t just pay others.

  2. Set 20% of what you make for the creditors. This could mean paying off your credit card & other debts without jeopardising your own financial situation.

  3. Last but not least, 70% of your money will go towards your day to day expenses.

The above formula is simple but it is executing it that is difficult. Consider a young person starting off life at age 25 and in 40 years time what sort of financial bounty will he be reaping if he can execute this simple formula & stick by it. In terms of mere savings, not even considering the return from investment, on the basis of an annual income of just $25,000 (and for simplicity stays fixed for 40 years), if he pays himself 10%, he could easily end up with $100,000. Believe you me, a lot of people won’t have that to show. The success of a person is not measured so much by the amount he makes but more so by the amount he saves.

Remember we all have the freedom to work for others or to have others work for us, & ultimately to have money working for us. Top have money working for us,we do not necessary depend entirely on our own money. We can always employ the principle of O.P.M., i.e. Other People’s Money. The banks and other financial institutions utilise this principle. They all you a lesser interest than the interest they accrue through their investments or from others. Similarly, make sure your return is higher than what you have to pay for financing your project.

In money management, more must come in & less to go out. I can also recall when working as a manager for the American International Assurance, my managing director used to say: “live five years below your budget. We would not like to be a scrooge, but budgeting is very important.

However, don’t be obsessed with money or status. Making money is not the be all & end all. Greed often sets in with lots of business people & you soon become a question of being possessed by your possession. It does not matter to these unscrupulous people how many money is made, morally or immorally, legally or illegally. The object of the bottom line blurs out all other considerations or consequences. Some of these people camouflage their misdeeds by being philanthropic. This tantamount to laundering evil money through charity & hopefully people will be blind in the process. There is the danger of entrapping yourself & be oblivious to all sense of value. Wealth is relative – there is no end to wanting more of it.

To be a millionaire, you’ve got to have a millionaire mentality. Winning money through lottery or lotto will not make you one. In fact, money coming in an easy way will just as easy go out. Have a good investment sense & invest wisely.

God created us in a world full of abundance. We are the most unique creatures of all His creations – being created essentially in His own image. As such, you should have all the necessary skills to make it in life. There is no justification or rationalisation for missing out the financial boat in life. Begin to believe that you have the ability & capacity to make your dream come true. Build from within yourself that internal desire to achieve that great wealth.

images-1isWarren Buffet  images

Bill Gates                                               Li Ka-shing

If you are one of those gifted people with some special talents, you are more than certain to be on the road to riches. You could, for instance, be a singing star or a sporting talent like Tiger Woods or even Greg Norman. In a different league, people like Bill Gates, Warren Buffet or Li Ka-shing are exceptional wealthy billionaires. They all possess a mentality way above that of the average rich guy.

Paul Chong

Sunday, 2 August 2009

Prosperity, Posterity & Proprietary

Prosperity, Posterity & Proprietary

(By Paul Chong)

IMAGE0016.JPGThe 3 Figures of Wealth, Happiness & Longevity

Traditionally, the Chinese are very fond of “Prosperity” “Happiness” and “Longevity”. Often you’ll find the three representative figurines, which are highly revered, sitting on the alter of the Chinese homes, where worshipping of such is not unusual. Unfortunately, fortunes last not beyond three generations with most families. The energy for conservation & expansion appeared to be lacking and as we say “Easy come, easy go”.

Some families, however, are able to keep on going & achieving; and it’s only with the right mindset & management. It’s attitude that scales the altitude. Attitude is one little magic word that even surpasses aptitude. To ensure greatness to continue and even to further excel, prosperity, posterity & proprietary (the 3 Ps) must be perfectly understood & practised.

By & large, Chinese are known to be most assiduous in their economic pursuits. Like Napoleon, the word “impossible” does not crop out in the Chinese dictionary. The latest catch phrase is “Zhongguo Jia Yu” as rung through loud and clear during the Beijing Olympics 2008. Chinese spirit is indomitable. The journey to wealth & prosperity really just began with Deng Xiaoping’s own catch phrase of “Xian Qian Zou“.

When Deng Xiaoping, the architect of modern China, first conceived of his famous visionary saying, “Xiang Qian Zou” (Forward Move/The Road To Riches), China has been in a frenzy. This frenzy is now not just a fantasy but a reality for all the world to see! In just over 30 years, the whole economic landscape including both social & cultural aspects have been totally transformed. China today is not recognizable! It has the tallest, biggest, speediest & most fantastic of any man-made structures on the face of the earth!

For the average man in the street, the pedalled two-wheeler is a thing of the past. With a teeming population of 1.3 billion, you simply can’t find any other city in the world with more motor vehicles.

Prosperity is everywhere. Frenzy grips the air. With money flow, consumerism grows. Having been deprived for so long, the people now want to purchase just about every conceivable product available, both qualitatively and quantitatively. Business flows and economy grows.

In the light of the above, where does posterity shine? Not by way of large families as it used to be but restrictively because of the enforced one-child policy of the Chinese government. While the policy has its merits in controlling population growth & size, it is creating social problems unknown before. Traditional values are breaking down, customs & cultural practices are slowly but surely being diminished by modern way of life. With the bamboo curtain down, the inflow & influence of external western style take a footing & grow. The single princely brat of the family might not ensure family progression beyond its present boundary let alone three generations from now. Historically, we have witnessed family fortunes wasted away through squandering, gambling, family in-fighting, ill financial management & other means. The question is will posterity follow as a result of prosperity? Is it going to be just eat drink & be merry for tomorrow may never be?

Progress does bring about changes. Basically, to grow to progress is to change . . . and it’s changing for the better that counts. All sentimentality must give way to progress and all inhibitions removed. A country that changes through mental revolution will progressively be able to cope & keep pace with the rate of growth. Peace & harmony must be ever present to ensure growth & progress to go on. President Hu Jintao is gearing along the right path with emphasis on harmonious living. His visionary concept of “One World One Dream” is a vision for the world at large.

In terms of proprietary, China is in step and is along the right track to greater height of growth & prosperity. It’s hard to envisage what the future holds. Where will it go and where will it end? The world at large is watching, and watching very closely. The real wealth of any country lies not in its natural resources – but its people. It’s the people who work, work both hard & smart, to create & sustain the proprietary within, then spreading it out to reach & share with others who care.

Paul Chong

A Chinese by Descent

An Australian by Consent

9 September 2008 @ 3.49 am