Good morning to everyone in this room. I would like to thank the principal, the teachers, and my dear friends for allowing me to speak to you today about wealth. Often, the term “wealth” is used to describe someone who has a lot of assets and money. The general population may consider this to be true because advertising and the media have conditioned us to do so.
Your net worth is determined by how much of your savings account you spend; wealth and money do not define how much you have. This is significant because how much of your savings account you spend rather than how much money you save affects your wealth. Most media outlets rank wealthy people based on their net worth rather than how much cash they have on hand.
Money is a result of hard effort, and successful individuals live modest lifestyles to donate their earnings to worthwhile causes. Instead of concentrating on increasing their wealth, they establish their enterprises and pursue their passions. This is crucial because far too many individuals are obsessed with maintaining a standard of living that is incompatible with adequate savings.
Elon Musk and Mark Zuckerberg both choose to focus on their goals rather than on tangible things like costly vehicles and other material goods. Musk’s McLaren cost $1 million, whereas Zuckerberg’s first billion represented less than 1% of his total wealth. Regrettably, the majority of people simply value material stuff, and they spend a lot of money on pricey items that they can’t actually afford. Thank you.