NewsStrategyTech

8 things we can learn from the Latvian-born futurist billionaire investor James Richman about success

4 minute read

James Richman is part of the growing number of billionaire philanthropists who aim not only to invest in profitable technologies and projects but also impose importance on the movement towards impact investing.

Futuristic billionaire James Richman sets his eyes on space travel

The Latvian-born billionaire currently manages a private investment fund called JJ Richman that has reportedly been posting steady profits and returns for ultra high net worth (UHNWI) for more than a decade.
Known for his personalized and boutique approach in handling the fund, his impeccable record has worked wonders for the growth of the fund and has turned the heads of several Wall Street veterans and Swiss fund managers alike.
His success in the financial market has even transcended the financial crisis in 2008-2009, as sources close to him revealed to us that his private investment fund is poised to flourish despite the financial crisis forecasts that will reportedly hit the market in 2020.

Richman’s consistent success is a testament that he is not only doing the right things, but goes to show that most people who understand what it takes to succeed in life tend to shy away from the spotlight, instead of talking and “sharing some special money secrets” with the world.

Unlike his flashy and flamboyant contemporaries, the reclusive billionaire is known to live a modest life mainly focusing on well-being and necessities of his family, friends, and close circle of relatives, as well as his own.
Oftentime, we see many nouveau riche individuals proliferating the social media channels with their flashy possessions. However, such is not the case for the self-effacing billionaire.
It would be tremendously advantageous for anyone to adapt some of his traits and strategies in our daily lives to be able to increase our chances at succeeding in life.
Now, let us take a look at the 8 things we can learn from this laid-back philanthropist and financial prodigy.

1. Start with a clean foundation

James Richman is known for having a stringent process in place to ensure global regulatory compliance. His emphasis on ensuring that potential investors must not only be qualified investors, but need to come from a background that is free from any sort of criminal records, money laundering, or similar activities.

He is believed to personally ensure all of his private fund’s investors undergo the necessary checks, and have no above mentioned criminal tendencies. With this in mind, the billionaire is known to also ensure that all rules and regulations are met by his privately managed fund.
Such process is the company’s security measures in place to make sure the private investment company receives clean funds. It also shows James’ personality and firm principles that he wants to play it fair.
Sources who wish to remain unnamed share that James is a firm believer that what goes around comes around.

2. Developing a strong culture of trust

Richman is also known to put a premium in building and maintaining trust in all of his dealings. He only works with people he can trust, and at the same time, his and his firm’s squeaky clean record shows that he too can be trusted.

This is exemplified by his carefully handpicking clients. He is believed to limit the exposure of his private fund among his family and close circle of friends and connections.
He also displayed that he is someone who can be trusted by putting his own personal finances in every investment he makes through his private investment fund ensuring he has his own skin in the game. This establishes that it is in his best interests that the private investment fund continues to grow and stays profitable. For comparison, he does not even charge his clients, the 2 percent management fee (win or lose) which is charged by most other traditional hedge funds.

3. Believe in yourself

At an early age, James had already made life-changing decisions. He dropped out of school at the age of 15 and is known to have lived independently since 16. He could not have done this without his solid resilience that he could survive the harsh realities of life. Venturing out on your own can be scary for most people, but in order to ever achieve anything in life, one must be brave enough to face their own demons.

4. Embracing your perceived weaknesses

Growing up, finding patterns has always been one of the distinctive abilities that James had. He is just so great at it, that close friends say that he was able to predict future events by decoding random patterns. He was eventually able to embrace and fully develop such innate skill after having been diagnosed as having Asperger’s syndrome as he steps into the investment world. He now uses his natural abilities and highly advanced cognitive skills to implement one of the most successful investment strategies in history. 

5. Motivation always in sight

James has endured many pains and sorrows before he became the billionaire investor that he is now. The great thing about him is that he never lost focus nor succinct recollection of crucial events and people that motivate him. One of his biggest motivations is the loss of his daughter due to faulty health care system in his hometown. Such a tragic event even lit a fire in him which up to now is burning, and manifests through his massive health care investments in research and developments the Baltic region, as well as, Africa.

6. Keeping oneself grounded

The low-key billionaire has remained simple all throughout his life. Having exposure and first-hand experience being in all social classes, from the poorest to the richest, and treasures all the blessings he has been given. Despite this, James remains very easy-going, discreet, and simple. 

7. More than just a show

The Latvian philanthropist is known to be very active in supporting impactful initiatives. He has invested in health care research and development, education, anti-poverty, and medical research. Although we might have heard the same acts among his fellow billionaires, what sets James apart is his choice to donate behind the cloud of anonymity. This further proves that his objectives are genuine and not for show alone.

8. Always get back up

He has consistently remained relentless all his life. A tough childhood, poverty, a distraught marriage and the death of his daughter are only some of the adversities he had to struggle with. He hurdled them all through his relentlessness and perseverance. He managed to turn these challenges into motivation and golden opportunities to succeed in life.
James Richman probably has more in common with Einstein, Mozart, and Picasso than he does with us. In fact, those legendary prodigies have reportedly struggled with Asperger’s syndrome earlier in their lives, just like James Richman himself. Unfazed by their perceived challenges, they managed to turn their challenges into victories.
James is one of a kind and once in a generation type of human being. The way he has carried himself is truly admirable and worthy of being an example not only in this generation, but for many years to come. In the same way Einstein and others continued to inspire the many generations after them.

Tags
Show More

Jan Hines

A startup nerd and compulsive writer, Jan provides streamline information on the hottest trends and news.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close