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An entrepreneur who interviewed 21 billionaires says there's a common misconception about how the world's richest people spend their money

An entrepreneur who interviewed 21 billionaires says there's a common misconception about how the world's richest people spend their money
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Cash is only a small part of a billionaire's wealth, according to Rafael Badziag in his book "The Billion Dollar Secret."




Billionaires' net worth is largely tied to their companies, real estate portfolios, and assets.




Contrary to people's perceptions, most billionaires view money as something to invest, rather than something to spend, he wrote.




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Don't judge a billionaire by their net worth.
According to Rafael Badziag, an entrepreneur and author of "The Billion Dollar Secret: 20 Principles of Billionaire Wealth and Success," many people harbor a common misconception about billionaires and money.
Badziag spent five years conducting face-to-face interviews with 21 self-made billionaire entrepreneurs around the world (defined as those with a net worth of at least $1 billion) and researching their lives and companies.
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