Financial Expert Codie Sanchez’s 7 Favorite Business Books From Billionaires
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Nicole Symon
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Jenna Klaverweiden
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Reading about finance is one of the best ways to boost your knowledge and help you reach your money goals. Business influencer Codie Sanchez said she reads or listens to over 50 books on business each year for exactly that reason.
In a recent YouTube video, she discussed seven books by or about billionaires that she keeps coming back to for the valuable lessons they share.
Consider picking up some of these books to learn how to grow your business or make more money through the experience of people who have reached immense success.
Also see seven books Mark Cuban recommends if you want to be successful.
‘Built from Scratch: How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion’
“Built from Scratch” tells the story of how Arthur Blank and Bernard Marcus created Home Depot and grew it into a massive success. The book was originally published in 1999 for Home Depot’s 20th anniversary, and the company had reached $30 billion in sales by that point. Today, Home Depot does over $150 billion in sales annually.
Sanchez said she loves that the book explains how “two founders step-by-step built a company that’s lasted far beyond them.” The story starts with Blank and Marcus getting fired from their jobs, which led them to start Home Depot. They didn’t have a lot of money and created a store that reflected their own affordable, do-it-yourself approach, revolutionizing the home improvement space.
‘Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger’
Sanchez’s next recommendation is “Poor Charlie’s Almanack.” Charles Munger, Warren Buffett’s right-hand man as they created Berkshire Hathaway, wrote the book to share his experiences in finance. The book includes his speeches, emails and scripts.
“I think you should read this book if you want to become a better investor, if you want to get better at decision making, if you want to figure out how to take your money and make more money with it,” Sanchez said.
Beyond investing, Munger also offers insights into the world of business as a whole, his family history and his thoughts on life. If you want to read the thoughts of someone who created immense wealth, this book is a good choice.
‘The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company’
Sanchez also recommended Robert Iger’s book, “The Ride of a Lifetime.” Iger is the CEO of The Walt Disney Company, the “happiest company on the planet.” The book came out in 2019 and covered his 15 years in charge when the company was undergoing many transitions and changes.
In the book, Iger discusses the reinvention of Disney under his leadership as well as the ideas and values he found most important as CEO. Sanchez emphasized the book’s details about the transactions Iger led in acquiring properties like Star Wars and Pixar. “You can learn a lot about deal-making from Bob Iger, and the way he gets deals done is really interesting,” she said.
‘Steve Jobs’
The first book on Sanchez’s list not written by the actual billionaire but rather by a billionaire’s biographer is “Steve Jobs” by Walter Isaacson. Steve Jobs requested Isaacson write the book and completed over 40 interviews with him over two years to share his story. Isaacson also interviewed more than 100 others to gain insights into Jobs’ life and business history for the book.
Sanchez said of Jobs, “He’s one of the brilliant visionaries of our time — if not all time … I think if you want to be exceptional, it’s much easier to mimic somebody that you already know is exceptional.” Reading “Steve Jobs” by Isaacson will give you details about Jobs’ progression as a businessman that you can perhaps emulate in your own life.
‘Elon Musk’
The next book Sanchez recommended is also a biography by Walter Isaacson, this one about Elon Musk. The story starts with Musk’s childhood in South Africa and his relationship with his father. Isaacson dives into Musk’s business successes and his demons to paint a detailed picture of the richest man on Earth. As with Jobs’ biography, Isaacson spent two years interviewing and shadowing Musk to better understand him. He also interviewed Musk’s adversaries, friends and family.
Sanchez said she likes that the book explores Musk’s approach to business and his philosophy of breaking down complex issues into their fundamental truths. Her key takeaway is that “we all are more uniquely capable than we think we are, but the world tries to tell us not to be.”
‘Sam Walton: Made in America’
Sanchez also recommended “Sam Walton: Made in America” by Sam Walton, the founder of Walmart. Walton’s book tells his story of transforming a single dime store in his small Arkansas town into Walmart, the biggest retailer in the world. He shares anecdotes, business philosophies and candid thoughts on his history.
Sanchez highlighted that Walton was obsessed with the customer and cost-conscious, two key factors in his success. His stories of visiting both Walmart and competitor stores for intel also stand out.
‘Am I Being Too Subtle? Straight Talk From a Business Rebel’
The last book on Sanchez’s recommendation list is “Am I Being Too Subtle?” by Sam Zell, a billionaire known primarily for his real estate investments. Zell earned the nickname “Grave Dancer” for his habit of taking over troubled assets for low prices and revitalizing them. The book contains his stories of business successes and losses, along with the top lessons he learned.
Sanchez highlighted some funny stories in the book that show Zell’s eccentricity as well as his business acumen. “If you want your money to make more money, you should listen to this book,” she said.
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