In a blog post this week, Microsoft co-founder Bill Gates, shared how his childhood passion for reading was instrumental in his journey to becoming a billionaire.
What Happened: Gates expressed doubt about whether he would have achieved his billionaire status if he had grown up in today’s digital era, dominated by smartphones and social media.
"When I felt restless or bored — or got in trouble for misbehaving — I would disappear into my room and lose myself in books or ideas, often for hours without interruption. This ability to turn idle time into deep thinking and learning became a fundamental part of who I am," he stated.
Adding, "It was also crucial to my success later on."
Throughout his career, Gates has credited his accomplishments to his reading habits and periods of intense focus, such as his “Think Week” retreats.
These sessions allowed him to concentrate on future innovations, including the development of Internet Explorer.
Gates cautioned that the technologies he helped popularize might impede the deep thinking necessary for groundbreaking innovations.
The tech mogul recommended “The Anxious Generation” by Jonathan Haidt as a must-read. The book explores how technology has affected young minds, contributing to mental health challenges.
He spoke about the value of a “play-based childhood” over a “phone-based” one, as highlighted in Haidt’s book.
"Today's teenagers spend an average of six to eight hours per day on screen-based leisure activities—that is, not for schoolwork or homework," he wrote, adding, "I'm especially worried about the impact on critical thinking and concentrating."
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Why It Matters: Gatest currently has a net worth of $166 billion, according to the Bloomberg Billionaire Index.
Microsoft, the company he co-founded and spearheaded for years has now reached a market capitalization of $3.297 billion, making it the third most valuable company in the world.
Last month, Gates expressed his willingness to relinquish 62% of his wealth under a proposed tax system targeting the affluent. He has been vocal about wealth disparity and the need for the wealthy to contribute more to society.
Gates has also warned of an impending financial crisis akin to the 2008 recession, highlighting the importance of financial preparedness.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
