By Andrew Chia, CENFIS
10.42pm GMT, March 24, 2023
Everyone knows the mantra, "money makes money." But not many people know the truth about this saying which has been passed down through the generations.
Tony Fernandes is a household name in Malaysia. He invented online booking for flights in 2001. At that time nobody has even heard of it. Today, people in Malaysia can remember the slogan he created for his company, Air Asia. It says, "Now Everyone Can Fly." Lately though, his company, along with all other airlines in the world, has suffered bad times due to the Covid pandemic which grounded all flights for almost two years. But Tony had already become a billionaire.
When Tony started the airline all he had was a vision of online booking of low-cost carrier flights via airasia.com. He did not have any money. He only had the skills to operate an airline which he learned from his former boss, Richard Branson. He had an education in finance and business and he had connections in the right places. He bought the airline for only one ringgit, or about 25 cents in US denomination. He took on a debt of RM380 million held by an existing airline which failed. When the airline took off, business was so good that he managed to pay off that debt within a year. He went on to become a billionaire soon after and he could even afford to buy over a football club in England!
Do you dream of becoming a millionaire one day? Do you have the vision, motivation, the right mindset and the skills? Congratulations! You will realize your dream soon. Because now you know that the saying, "money makes money" is a lie. Money is just an idea. If you can see it in your mind, you will feel it in your hands. Just like Tony did.
This money tip is brought by to you by CENFIS, the Center for Financial Intelligence Studies, based in London. For more information you can visit our blog at cenfis.org. Have a nice day and we will talk again soon.
Tony Fernandes is a household name in Malaysia. He invented online booking for flights in 2001. At that time nobody has even heard of it. Today, people in Malaysia can remember the slogan he created for his company, Air Asia. It says, "Now Everyone Can Fly." Lately though, his company, along with all other airlines in the world, has suffered bad times due to the Covid pandemic which grounded all flights for almost two years. But Tony had already become a billionaire.
When Tony started the airline all he had was a vision of online booking of low-cost carrier flights via airasia.com. He did not have any money. He only had the skills to operate an airline which he learned from his former boss, Richard Branson. He had an education in finance and business and he had connections in the right places. He bought the airline for only one ringgit, or about 25 cents in US denomination. He took on a debt of RM380 million held by an existing airline which failed. When the airline took off, business was so good that he managed to pay off that debt within a year. He went on to become a billionaire soon after and he could even afford to buy over a football club in England!
Do you dream of becoming a millionaire one day? Do you have the vision, motivation, the right mindset and the skills? Congratulations! You will realize your dream soon. Because now you know that the saying, "money makes money" is a lie. Money is just an idea. If you can see it in your mind, you will feel it in your hands. Just like Tony did.
This money tip is brought by to you by CENFIS, the Center for Financial Intelligence Studies, based in London. For more information you can visit our blog at cenfis.org. Have a nice day and we will talk again soon.
Article classification: Element 1 of financial intelligence (Motivation)
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