5 Books That Millionaires Recommend

Elon Musk famously said in an interview, “I was raised by books. Books, and then, my parents.” He is not alone in his active deference towards books. Most successful businesspersons are known for their healthy reading habits. They read not just those books pertinent to entrepreneurship but of all kinds, providing valuable, eye-opening life lessons. It is a fact that books help you grow out of your shell, assume a bigger and more refined purpose in life, and gather knowledge and skills to deal with the various complexities of life. Being a millionaire isn’t a piece of cake.

While there could be thousands of books one can read, it is impossible to name them here. Instead, I have selected five books that millionaires love reading and recommending to others. These books are known for their literary quality, insightful observations, and everlasting impressions. On this note, here are those five books:

1. Thinking Fast and Slow by Daniel Kahneman 

   I’ve read this book, and I loved it. We all are intrigued by the mechanics of our brains. Such a mysterious organ lends us superior intellect among all other species. Many scientists have argued that humans are engineered to be rational. However, Daniel Kahneman refutes the assertion and elaborates on the situational context of brain functions.
   In this book, he writes about the existence of biases, the twin sides of our brains, and how one can identify them and deal with them. Undoubtedly, the book keeps you glued to its pages as the author traverses through his theories with the help of several practical examples. 

2. The Power of Habit by Charles Duhigg 

   It is quite likely you have heard of this book. After all, this masterpiece finds a special place in nearly every self-help collection. Charles Duhigg navigates the world of habits, offers explanations for the negative impact of these habits, and suggests how the impact can be regulated and done away with. His book is flooded with practical advice based on solid examples.
   It has been written in lucid language, making it accessible to the public. For anyone to start and manage a business, commitment is essential. Such a commitment requires reconfiguration of your choices and habits. You need strategies and tools to bring such discipline to life, which is exactly the book’s aim. 

3. Shoe Dog by Phil Knight 

   Shoe Dog has been a favorite of Warren Buffett and Bill Gates. Phil Knight, the co-founder of Nike, gives an inspiring account of his journey in business. His life and the lessons he gathered from it have helped motivate people to realize their entrepreneurial dreams. From borrowing USD 50 from his dad to founding a worldwide mega-hit brand, the journey was rough, exciting, and wonderful.
   To fight adversity, one must be prepared to face all the odds that may come one’s way–and this is what Shoe Dog makes you acknowledge. 

4. The Alchemist by Paolo Coelho 

   Every time you read The Alchemist, you experience gentleness, fascination, purity, and inspiration. Through the eyes of the young shepherd, Santiago, we walk by the lives of so many influential characters, find a semblance of hope through them, and cheer on as our young boy makes life-changing decisions to find the ultimate treasure.
   The book ends on a sublime note; it is something that takes you by surprise yet comforts you in its truth. It may not be a book on business. Still, it hits the bullseye as it dives deep into human emotion and encourages the frightened soul to stand up and follow dreams. 

5. The Peter Principle by Carlos Slim 

   Businesses start with an idea, but the idea must be institutionalized. Many aspiring entrepreneurs fail in the process of institutionalization as they put organizational efficacy on the back burner and focus squarely on filling up their bank accounts. Organizational competency gives long-term results and cannot be underestimated. This is what Carlos Slim highlights in his book.
   The Peter Principle will walk you through the mistakes organizations, and bureaucracies make in their operations. And he touches upon the matter with simplicity and examples. Millionaires love this book because it goes beyond ideas and addresses a very vital component of business management: the organization itself.

Have you read?
How hard is it to share our ideas by Riccardo Pandini.
Success Through Inspiration by Dr. Joe Zammit-Lucia.
The World’s Top 10 Highest-Paid Wealth Management Executives.
CEO compensation: Highest paid chief executive officers in the United States in 2022.
Leadership Lessons from Motherhood: 6 Key Behaviors to Adopt by Robin Landa.