Idaho’s Richest Man Shares This With Other Billionaires

Idaho’s wealthiest guy keeps a low profile.  I got a chance to hear Frank VanderSloot speak once.  At a Republican Party event five years ago.  He’s a man who comes across as someone you might know next door.  People who’ve earned money aren’t ostentatious.  It’s the work they find important, not the assets.  It’s why so many are still on the job well past the time when most people retire.

Others who’ve stumbled into wealth or made money very quickly are often more “showy”.  We don’t get many of those in the Mountain West.

A brother-in-law once lived in Omaha, Nebraska.  He operated a telemarketing business and purchased a home in a very nice neighborhood but not necessarily an opulent address.  One of his next door neighbors was one of the wealthiest men on the planet.  A fellow named Warren Buffett.  He didn’t have a need to display.  It’s a sign of confidence.  Buffett once agreed to meet Ted Koppel for lunch in order to tape an interview for ABC News.  The billionaire suggested Dairy Queen!

These are people who live and work quietly in flyover country.  They don’t need a penthouse in Manhattan.  These are people who made money because they saw a need and provided a solution.  Sam Walton drove an old pickup truck.

Forbes periodically puts together a list of the wealthiest person in each state.  You can see a recent rundown by clicking here.

One last point I wanted to make.  You need the vision to see the opportunity and also must have a strong work ethic.  Mel Karmazin was a broadcasting executive.  I was reading a story about him when he was still with CBS.  Most days he worked for 20 hours and he worked seven days a week.  Would you be willing to make a similar sacrifice?