12 Steps To Turn Your Kids Into Tech Billionaires

Mark zuckerberg priscilla chanFacebookMark Zuckerberg and Priscilla Chan

How do you set your kids up to be the next Mark Zuckerbergs or Larry Pages?

Serial entrepreneur Charles Tips has the most popular Quora answer on this topic with more than 5,200 upvotes from people like the co-founders of Zynga-owned Farmville and Google-owned Wavii.

Tips has a couple kids and says he has numerous friends who are self-made billionaires.

Step 2: 'Do NOT send them to public school NOR to the prep schools that are just our public schools on steroids.'

David Karp, CEO and founder of Tumblr

This isn't the recipe for every billionaire. Mark Zuckerberg attended a prepschool for high school. Other billionaires never graduated 12th grade.

But in Tips' opinion, someone as atypical as a billionaire is going to need an atypical education. He says his kids began working an assortment of jobs when they were pre-teens and traveled a lot doing things like filming documentaries and driving boats.

'If you want conventional minds, get them a conventional education,' Tips says.

Step 3: 'Teach a love of work.'

In other words, don't let them be lazy. Because, as Tips says, 'getting rich takes work' for which you need 'stamina.'

Step 5: 'Teach generosity.'

By generosity, Tips doesn't mean money. Being present is more valuable for others.

'The only real wealth is the time you have, and whenever you have a chance to use your time well for others, do it and do it fully,' he writes. 'Giving money without time can be a way of creating distance.'

Step 7: 'Lie, cheat and steal.'

Anthony Ortiz is a tech-savvy teen on Facebook. He and his friends like to pull online pranks and occasionally 'hijack' Facebook pages that have lots of likes.

If you teach your kids to only associate with good people, they won't learn how to deal with the jerks. And your kids will need to know how to interact with and defeat all types of people to win in business.

'The world is full of arseholes and swindlers and your kids will need a radar for it, and they need to suffer the consequences so that they develop an arsenal of techniques for dealing with it,' Tips writes. 'They need to be superb judges of character. You can't teach good behaviour by isolating them from bad behaviour.'

Step 9: 'Teach numeracy.'

Your kid needs to be great at maths, and preferably able to calculate things on the fly in his or her head, says Tips. Otherwise they will 'have a difficult time putting deals together.'

Step 11: 'Get a grubstake.'

A 'grubstake' is an investment. If you don't risk your money and invest it, you won't make a lot of money in return.

'No grubstake. No billionaires,' Tips writes. 'You can't be a capitalist without capital and the willingness to put it all at risk.'

Now don't miss how one man became a billionaire:

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