Source: Fortune
Summary
Jeffrey Sprecher, founder and CEO of Intercontinental Exchange, invested $1,000 in a near-bankrupt company in 1997, which became the foundation for his $85 billion business. Sprecher bought Continental Power Exchange from Warren Buffett’s MidAmerican Energy for $1,000 and used it to build Intercontinental Exchange. He lived in a small apartment and drove a used car while scaling the business. Other entrepreneurs, such as Kenn Ricci and Martin Mignot, also made key investments at the right moment to achieve success.
Our Reading
The numbers tell one story. Jeffrey Sprecher’s $1,000 investment in 1997 turned into an $85 billion business. He bought Continental Power Exchange from Warren Buffett’s MidAmerican Energy for $1,000. Sprecher lived in a small apartment and drove a used car while scaling the business. Kenn Ricci bought a struggling business for $27,500 and turned it into a 10-figure fortune. Martin Mignot invested in Deliveroo when it was a small operation and became a self-made millionaire.
Entrepreneurial success often relies on spotting the perfect window to invest small and earn big.
Author: Evan Null
