You would think billionaires would have their own secret ways of communicating with each other. There is the annual Allen & Company Conference in Sun Valley, Idaho — or “Billionaire Summer Camp” — where Silicon Valley’s most elite meet every year.
It’s where the internet was gifted the iconic photo of Amazon CEO Jeff Bezos busting out of a quilted vest, like Jason Statham in “The Transporter”. Beyond the signature vests of the conference, not much is known about the inner dealmaking that the world’s richest make behind the scenes, and chances are we’ll never know because we are not billionaires.
However, there might be an in to understanding how billionaires stay connected when they aren’t seen in-person with each other.
Shark Tank star and billionaire entrepreneur Mark Cuban is just like every other Millennial and Gen Zer — by connecting with others over Snapchat. The only caveat: it’s with a group of billionaires.
Cuban, the owner of the Dallas Mavericks, recently did an interview with the Up Only podcast where he discussed his obsession with the social media platform, and how he currently has Snap Streaks — also known streak created due to interacting with someone for consecutive days — with Microsoft founder Bill Gates and billionaire investor Warren Buffett.
“There’s like a bunch of us on Snaps (Snapchat),” Cuban said on the podcast, via The Daily Hodl. “You know every night I got [a Snap Streak with] Bill Gates or Warren Buffett gets my little S for streaks. And Warren Buffett always likes to show his toes and stuff like that. Chamath [Palihapitiya] (Social Capital CEO and billionaire Bitcoin bull) is trying to get in the group but Bill Gates won’t let him in…”
Cuban said he wasn’t as hot on messaging apps like Discord or Telegram, but Snap keeps it simple.
“There’s all this competition to get into the New World Order or the Trilateral Commission, and they won’t let normal people in,” Cuban joked. “We decided to just have our own alternative, and that was just a Snap group.”
Unfortunately for those interested in the secret Snapchat group, Cuban left it with those quotes and went on to talk about his career and his play in cryptocurrency.
As for what the world’s richest talk and send each other (I think we can all live without Warren Buffett’s feet), that remains unknown. However, Cuban’s short glimpse into his personal life show that billionaires are just like normal people.
To understand how the world’s richest live, Sarah Stanley Fallaw’s book “The Next Millionaire Next Door: Enduring Strategies for Building Wealth,” is a good study on how more than 600 millionaire in America live, and how their personal lives dictate their wealth and success.
“Focusing on goals is related to building wealth, regardless of age and income,” Stanley Fallaw said, via Business Insider. “The decisions we make, particularly related to the allocation of our time, energy, and money, impact our ability to become financially independent.”
Some key findings from her research included:
- Millionaires spend around five and a half hours weekly reading for leisure; the average American spends two hours. (Cuban himself has said he reads about three hours a day.)
- Exercise is big. Millionaires spend about six hours weekly for body health, while Americans average around two and a half hours. How can millionaires sneak in so much more exercise? It isn’t like they aren’t working, but they aren’t connected to their phones like others.
- The average millionaire spends 2 hours and 30 minutes a week on social media, while the average American racks in 14 hours.