The Top 10 Influential Business Figures in American History

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1. John Davison Rockefeller – Oil magnate and founder of Standard Oil. Often regarded as the richest person in history. Offspring companies include: The Seven Sister oil companies. ie. Exxon Mobil, Chevron, and etc. Estimated net worth in adjusted dollars: $500 Billion.

2. Henry Ford – He gave us the assembly line, the Model T, and sparked America’s love affair with automobiles. Estimated net worth in adjusted dollars: $178 Billion. 

3. Andrew Carnegie – Forged America’s industrial might, and founded the Carnegie Steel Company (Which later merged to form US Steel). Had the biggest impact on the industrial revolution. Estimated net worth: $297 Billion. 

4. John Pierpont Morgan – Financial magnate, and paved the way for Wall Street barons. He financed several big mergers and acquisitions, some of which include: General Electric, US Steel, AT&T, and US Railways. He advised and funded Charles Schwab, Thomas Edison, Nikola Tesla, Grover Cleveland, Thomas Westinghouse, and many more. Estimated net worth: $100 Billion.

5. Cornelius Vanderbilt – Gained the majority of his wealth from the shipping and railroad industry. A renegade pioneer. Estimated net worth: $160 Billion.

6. Warren Buffett – The Oracle of Omaha. Greatest investor in world history. Took the knowledge given to him by Dr. Benjamin Graham, and paved the way for a new generation of value investors. Estimated net worth: $50 Billion. 

7. Bill Gates – Business magnate, co-founder of Microsoft and the Gates Foundation. He was at the helm of the personal computer revolution, and helped make Microsoft the juggernaut it is today. Estimated net worth: $57 Billion.

8. Sam Walton – Entrepreneur, business magnate, and founder of Wal-Mart & Sam’s Club. One of the most innovative retail entrepreneurs in world history. Estimated net worth: $92 Billion.

9. Larry Ellison – Business magnate and founder of Oracle. He created Oracle as a project that was originally funded by the CIA for massive data collection. He revolutionized database systems, and currently runs one of the most powerful companies in the world. Estimated net worth: $40 Billion.

10. Steve Jobs – Hardware entrepreneur and Co-founder of Apple Computers. From his humble beginnings, to the hardships of 1997, Steve resurrected his own company. 14 years after accepting a $150 million loan from Microsoft, Apple managed to surpass Exxon Mobil as the world’s most valuable company. The iPod, iPhone, iPad, iMac, and many other products have revolutionized the way we communicate. Steve was not only a great leader, but he had foresight and the wherewithal to pick an excellent predecessor in Tim Cook. Arguably, the greatest leader Silicon Valley has ever known. Estimated net worth: $8.3 Billion.

I’d love to hear what you think about my list.

Signing off,

Miran Maric

No man will make a great leader who wants to do it all himself or get all the credit for doing it.
– Andrew Carnegie

Apple’s Rise From Near Bankruptcy To Dethroning Exxon

In 1997, Apple was on the verge of bankruptcy. Now, they stand as the most valuable publicly traded company in the world. What a difference 14 years and a $150 Million loan from Microsoft makes.

One thing is certain above all else. Apple’s commitment to hardware was the greatest hedge of all time. They didn’t become enamored with trendy software, and they kept their fundamental business based on hardware. iPod’s, Mac books, iPads, and of course iPhones. Apple clearly had competitors throughout their rise to power, but their brand managed to eclipse everyone else’s. The question is why? My theory is that they were able to enamor Generation Y. They appealed to the consumers vanity, and gave them an aesthetically pleasing device that was unequivocally different from any PC in the marketplace. Secondly, the iPhone.

Not talking about the iPhone in a post like this would be a travesty since it accounts for more than 50% of Apple’s total revenue. I consider myself a cell phone buff, so that’s why I don’t like the iPhone. Strictly speaking from a technological standpoint, it’s good but not great. It revolutionized the app world, and brought forth the generation of people who need access to thousands of apps or they’ll die! If you follow the pattern from 2000 until now, you’ll see that there was a paradigm shift in the mobile industry. Phones that didn’t have an easy pass-through access point were rendered obsolete. Companies that were too late to the draw saw their marginally run businesses dwindle away. Nokia stood as the world’s juggernaut phone maker until technology and consumer demand changed. They had ample time to prepare for this, but simply chose not to. That decision has also led them to the financial woes they’re currently seeing.

The business model itself around the iPhone created consumer demand as well. Once app makers saw an opportunity to make money off of apps, they began tailoring their apps to the consumers needs. They were able to capitalize on the 3G revolution that started captivating Europe a couple of years before it hit the United States.

Now, Apple’s leadership is 100% responsible for their success. People tend to mention Apple’s poster boy, Steve Jobs, but Apple’s real superhero is Tim Cook.

One thing is for certain. Economic swings will naturally happen in the cyclical and non-cyclical sectors, but strong sales of tangible products will always keep you afloat. When Silicon Valley Tech Bubble 2.0 bursts in the next three years, many of the artificially inflated companies will cease to exist. Apple will be standing stronger than ever. Apple is approximately worth $340 Billion, and their stock is still undervalued in my opinion. With that being said, I’m going to go on record as saying the following:

Prediction: The iPhone 5 (4G) and the iPad 3 will break previous records domestically and internationally. Bold prediction, right! Here’s my prediction. Apple will be worth more than $450 Billion by Q2 of 2012.

Signing off,

Miran Maric

No enterprise is more likely to succeed than one concealed from the enemy until it is ripe for execution.
– Niccolo Machiavelli