Ron Barin Net Worth:
2.1 Billion USD
Ron Baron, 75 years old, has been running Baron Capital Group, Inc. (BCG) since he founded it in 1982. An investment management holding company based in New York City, it has several subsidiaries. Indeed, its success has made Ron Baron a billionaire. Though it isn’t uncommon to believe that the wealthiest among us were born into an extremely wealthy family, and certainly that is true for some, Ron Baron’s background is quite different. While growing up in New Jersey, he earned money shoveling snow, selling ice cream and waiting tables, to name just a few of his position.
How he made his fortune
From 1970 to 1982, Ron Baron worked for several brokerages, gaining needed experience in the investment industry. He used the knowledge gained from this work to invest personally and was extremely successful in such. The confidence he gained from this success prompted him to start BCG.
What he does now
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From 1982, Mr. Baron has run BCG and has played a role in each of its subsidiaries. Though most investors focus on short term opportunities, BCG concentrates on long-term growth, making short-term market fluctuations irrelevant it. Many investments made over the past six years are in businesses which cater to the demands of the aging boomer generation, such as healthcare, and the essentials needed to enjoy retirement. He also takes the position that to reap the largest payback in this type of investment, it is important to veer away from investing in large companies. Almost all of BCG’s investments are in small or mid-sized businesses.
He also states that BCG conducts a thorough review of the top personnel at each business before determining whether to invest. It is important that these individuals are trustworthy, committed to their positions over the long-term and are willing to depart from accepted standards if need be: that is, that they have the creativity to try a new idea when the established ones are ineffective.
What we can learn
Ron Baron’s rise is quite inspirational to other for several reasons. First, it shows that great financial gain can be obtained by those who are not born into wealthy families. Second, it stresses that work experience can be a starting point for an individual to venture out on his own: if put to the right use, it can be very helpful in bolstering the financial security of the person. Third, it confirms that it is not always a negative step to depart from established standards. Instead, using your creative energy to fashion another approach in business is sometimes very beneficial.