Age at first $1 Billion:
• 23 Mark Zuckerberg
• 31 Elon Musk
• 31 Bill Gates
• 32 Rihanna
• 35 Jeff Bezos
• 35 Steve Jobs
• 39 Beyoncé
• 40 Oprah
• 42 Jay-Z
• 51 Michael Jordan
• 56 Warren Buffett
1 important lesson from each:
Derek Jeter’s first contract was worth $0.
It was a contract with his parents.
He signed it every year as a kid.
Before each school year, his parents would outline their expectations.
They’d put them in a contract with clauses such as:
• No drugs
• No alcohol
• No arguing
• Respect girls
• Meet curfew
And Derek would have to sign it.
If he violated the contract, there’d be no baseball.
Jeter would go on to become a New York Yankees legend and a MLB Hall of Famer.
These contracts are how it started.
***
Lesson: Success isn’t an accident
As a kid, Jeter didn’t understand the contracts.
They were a hokey thing his parents did.
But over time, he saw the intention behind them.
“It built the framework for success,” he said.
He learned that successful people aren’t that way on accident.
***
Lesson: Accountability is nurtured
Everyone would agree accountability is essential.
But you’re not just born with it.
It’s a character trait that’s taught and nurtured.
This was the primary purpose of the contracts, Jeter said.
Accountable people become successful people.
***
Lesson: Stay grounded
Jeter quickly blossomed in baseball.
By 18 years old, he was one of the best prospects in the country.
The Yankees drafted him No. 6 overall in the 1992 draft.
But his parents didn’t let that get to him.
Even as a high school senior, he had to obey the contract or he wouldn’t play.
“It taught us to stay grounded,” Jeter said.
***
3 timeless lessons:
• Build a framework for success
• Hold yourself accountable to it
• And stay grounded
They apply to everything.
***
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(Quotes: ESPN | Photo: The Players' Tribune)
I invented scrambling. The two best quarterbacks this year played against each other in the Super Bowl. They're both scramblers, and that started with me!