The Fall Of The Eight And The True Measure Of Wealth

In 1928 eight men met in a Chicago hotel. Together they had more money than the government of the United States. As Bob Proctor shares in You Were Born Rich, these men included a steel tycoon, a president of a gas company, the president of the New York Stock Exchange, a banker, a politician and a stock broker.

These men clearly understood how to earn money. But something changed for them and their end was far from their beginning. Twenty-five years late they were hardly recognizable.

Charles Schwab, who owned the largest steel company, was bankrupt for years before he died.

Howard Hopson, who was president of the gas company, went insane.

Arthur Cutton died broke as well, though previously he made a fortune in the wheat industry.

Richard Whitney, president of the New York Stock Exchange, was sent to prison.

Albert Fall the politician was also sentenced to prison but was pardoned due to bad health so he could die at home.

Jesse Livermore, the wealthy stock broker, took his own life, as did Ivar Krueger, another powerful businessman in the group. And sadly, Leon Fraser, a bank president in the eight also died by suicide.

Someone once said, “The real measure of your wealth is how much you’d be worth if you lost all your money.”

While money can play an important role in the pursuit of success, it is imperative to keep in mind that success without fulfillment and love is not success at all.

Perhaps P.T. Barnum said it best when he shared, “Money is a terrible master but an excellent servant.”

It is said that money amplifies who a person already is. Work to develop your character, so that whether pauper or king, your finances shine through your true heart of compassion and integrity.

Billy Graham once said that when character is lost, everything is lost. Indeed, in study after study, whether people are asked about work or relationships, when sharing the one thing they find most reprehensible in others is a lack of integrity.

Indeed, money can be an excellent servant when it is used to contribute to others and help you live your dreams while never compromising who you truly are at your core.

So as your wealth expands, be sure your character grows along with it. Seek out mentors to hold you accountable, learn from others who know the power of money to enhance both the good and bad. Stay focused on your dreams; but have just as much focus on keeping your integrity so you end better than you began.