Are there any network marketing billionaires? I’m not asking about billionaires who earned their money elsewhere; I’m wondering if there are any distributors (IBOs, team members, brand partners…) who accumulated a billion dollars within the network marketing profession? Was Mary Kay Ash a billionaire? What about Dexter Yager? How about the other MLM legends? I’m dubious, but please comment if you know the answer.
Q: What got me thinking about network marketing billionaires?
A: The recent kerfuffle with Herbalife™ and the quarrelling billionaires.
My understanding is that hedge fund billionaire, William A. Ackman, alleged that Herbalife™ is a pyramid scam and ‘shorted’ their stock. Unsurprisingly, Herbalife™ denied his allegations. Another well-known hedge fund titan, Carl C. Icahn, disagreed with Bill Ackman’s allegation and weighed in by purchasing Herbalife stock. I gather these guys don’t like each other, so it’s tough to tell if principle is involved or if this is nothing more than another big-money/ego vs big-money/ego clash.
I’d love to believe that Bill Ackman is genuinely concerned about financially-unsophisticated network marketing distributors. I’ve already admitted I exhibited poor judgement when I joined the network marketing profession. That’s why I wrote ‘Network Marketing Heads Up’.