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The Richest Man in Town: The Twelve Commandments of Wealth
Secretly, if not overtly, almost everyone in America desires to become to make it big, to enjoy the fruits of the most successful life imaginable. But unfortunately, most of us don't have a clue how to reach these all too elusive goals. Quite simply, there's no definitive road map for getting there, no proven plan, and certainly very little access to those who have become "the richest man in town."
But now W. Randall Jones, the founder of Worth magazine, is about to change all that. He's traveled to one hundred different towns and cities across the country and interviewed the wealthiest resident in each. No, these are not those folks who inherited their wealth, or happen to be a CEO of a Fortune 500 company. Rather, these are the self-made types who, through hard work and ingenuity, found their own individual paths to financial success.
Remarkably, during his research, Jones found that these successful people were not so different from one another. They all shared many of the same traits and followed what the author calls the Twelve Commandments of stay hungry (even when you're successful) . . . you really do learn more from failing than you may think . . . absolutely be your own boss, the sooner the better . . . understand that selling is the key to success . . . where you live doesn't matter . . . never retire, and other, more surprising revelations.
Practical, unique, and inspiring, this book lets you peek inside the living rooms of dozens of America's most successful people-and shows how you, too, can become The Richest Man in Town .
But now W. Randall Jones, the founder of Worth magazine, is about to change all that. He's traveled to one hundred different towns and cities across the country and interviewed the wealthiest resident in each. No, these are not those folks who inherited their wealth, or happen to be a CEO of a Fortune 500 company. Rather, these are the self-made types who, through hard work and ingenuity, found their own individual paths to financial success.
Remarkably, during his research, Jones found that these successful people were not so different from one another. They all shared many of the same traits and followed what the author calls the Twelve Commandments of stay hungry (even when you're successful) . . . you really do learn more from failing than you may think . . . absolutely be your own boss, the sooner the better . . . understand that selling is the key to success . . . where you live doesn't matter . . . never retire, and other, more surprising revelations.
Practical, unique, and inspiring, this book lets you peek inside the living rooms of dozens of America's most successful people-and shows how you, too, can become The Richest Man in Town .
256 pages, Hardcover
First published May 1, 2009
24 people are currently reading
332 people want to read
About the author
W. Randall Jones
3 books1 followerW. Randall (Randy) Jones is an author, publisher, and media executive who has spent 30 years in the publishing, TV, Internet, film and media businesses. He is the founder of Worth, the financial lifestyle magazine for active, wealthy investors. Random House published his first book, The Greatest Stock Picks of All Time, in 2004. He is best known for writing The Richest Man in Town:The Twelve Commandments of Wealth.
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Displaying 1 - 27 of 27 reviews
May 18, 2009
I liked this book, and I thought that the advice given was sound and made sense.
The downside of this book is that it is 5% ideas and 95% anecdotes of the super wealthy backing up these ideas.
I also thought that this book placed too much emphasis on becoming the super wealthy elite and most of the people highlighted in the book were entrepreneurs and all were to a certain extent lucky. I think the book gives valuable principles about placing yourself in a situation to have the highest chance of becoming very wealthy, but does not address the risk involved in living the life of an entrepreneur.
I think that the Millionaire Next Door and the Millionaire Mind are much more useful and much more elucidating novels for everyone. If you are willing to go out on a limb to risk it all with the chance to become super wealthy this book is for you. If you want to learn about the mindset of these super wealthy individuals, this book does a great job, but as far as looking to these individuals as a person to pattern your life by, you will likely find 20 people who lived by the same principles that have not and will not attain the wealth that this book focuses on.
The downside of this book is that it is 5% ideas and 95% anecdotes of the super wealthy backing up these ideas.
I also thought that this book placed too much emphasis on becoming the super wealthy elite and most of the people highlighted in the book were entrepreneurs and all were to a certain extent lucky. I think the book gives valuable principles about placing yourself in a situation to have the highest chance of becoming very wealthy, but does not address the risk involved in living the life of an entrepreneur.
I think that the Millionaire Next Door and the Millionaire Mind are much more useful and much more elucidating novels for everyone. If you are willing to go out on a limb to risk it all with the chance to become super wealthy this book is for you. If you want to learn about the mindset of these super wealthy individuals, this book does a great job, but as far as looking to these individuals as a person to pattern your life by, you will likely find 20 people who lived by the same principles that have not and will not attain the wealth that this book focuses on.
May 21, 2018
Slightly scattered stories of rich folks.
The lessons from the stories of the rich are reassuring that anyone has a chance to make their mark in America. The stories run around the hundred or so RMITs(Riches Man In Town) like a bad sermon, many quotes from various RMITs to make a point, but hard to get a grasp on any one life story to become truly intimate with their lives.
The lessons from the stories of the rich are reassuring that anyone has a chance to make their mark in America. The stories run around the hundred or so RMITs(Riches Man In Town) like a bad sermon, many quotes from various RMITs to make a point, but hard to get a grasp on any one life story to become truly intimate with their lives.
February 18, 2019
An interesting read, essentially journalism exploring the nature/patterns of the very rich throughout the US. Plenty of good information, but much of it is either common sense or observations, and not actionable strategy.
January 6, 2024
This book was tough for me to get through. I think there was great information but it read like a love letter to these super rich folks. I do think I took away some insights on ways to work on myself though.
February 7, 2025
high net worth individuals "enjoy the fruits of their labor", woah, yeah - valuable apport, thx
maybe it was my fault to grab this, I definietely wasn't the target audience.
2 stars because it was a good refresher of ideas from similar books on this topic
maybe it was my fault to grab this, I definietely wasn't the target audience.
2 stars because it was a good refresher of ideas from similar books on this topic
November 12, 2018
Stories about many rich people and so advice and motivation, nice to listen to from time to time
April 7, 2025
I think it is an amazing book, lots of good advice for those of us still following the road to get rich. I think there should be an updated edition more in line with the new times.
July 1, 2009
Synopsis:
W. Randall Jones, founder of Worth Magazine, identified and interviewed the Richest Man in Towns (RMITs) in one hundred American towns and cities. Jones selected self-made types who found their own paths to success through hard work and their creativity. While members of this select group span a range of companies and industries, they share certain traits. Jones calls these traits the Twelve Commandments of Wealth.
Here are the first few:
1. Seek Money for Money's Sake and Ye Shall Not Find.
- Wealth comes from a contribution of real value
2. Find your perfect pitch
- Know your own unique strengths and talents and match them with your personal passion.
3. BYOB: Be your own boss
- Don't work for someone else, found your own enterprise. Choose partners carefully - only those who bring something critical to your success.
The bulk of the book is devoted to describing these Twelve Commandments of Wealth and sharing how successful men demonstrated these traits. Anecdotes come from a diverse group of successful folk. Here are just a few: Michael Dell, Stephen King, Sam Zell, Fred Smith, Carl Icahn, John McAfee, Bill Gates, Sergey Brin, and Larry Ellison.
Aside from describing the traits, Jones offers exercises to help us find our strengths and individual paths to wealth. For instance, when describing the need to look for more than money, he suggests writing your own obituary to visualize your lifetime goals.
Review:
I found The Richest Man in Town: the Twelve Commandments of Wealth to be an interesting and absorbing read largely because of the wealth of stories shared by his sources.
Some of the quotes are particularly memorable and here are a few that I can't resist sharing:
"I always tell young people there is no substitute for hard work and diligence. It takes eight hours a day of hard work to be a success, but it takes most people twelve or thirteen hours a day to do eight hours of good work."
- Joe Taylor, former CEO of Southland Log Homes and secretary of commerce for SC
"Everyone should have at least one silent goal. This is a goal that is known only by you. It's a reach goal, one that is extremely hard to attain, but potentially life altering, even world changing. These kinds of world-changing golas are realized by only very few people. If you don't reach them, you certainly won't be judged by others-it's your well-kept personal secret."
-Dr. Thomas Frist Jr., co-founder of Hospital Corporation of America (HCA), the largest for-profit hospital management company
As I read, my copy slowly filled up with post-it tabs and notes. I highly recommend the book for those interested in business books and personal finance and for their loved ones who might need personal finance tips.
W. Randall Jones, founder of Worth Magazine, identified and interviewed the Richest Man in Towns (RMITs) in one hundred American towns and cities. Jones selected self-made types who found their own paths to success through hard work and their creativity. While members of this select group span a range of companies and industries, they share certain traits. Jones calls these traits the Twelve Commandments of Wealth.
Here are the first few:
1. Seek Money for Money's Sake and Ye Shall Not Find.
- Wealth comes from a contribution of real value
2. Find your perfect pitch
- Know your own unique strengths and talents and match them with your personal passion.
3. BYOB: Be your own boss
- Don't work for someone else, found your own enterprise. Choose partners carefully - only those who bring something critical to your success.
The bulk of the book is devoted to describing these Twelve Commandments of Wealth and sharing how successful men demonstrated these traits. Anecdotes come from a diverse group of successful folk. Here are just a few: Michael Dell, Stephen King, Sam Zell, Fred Smith, Carl Icahn, John McAfee, Bill Gates, Sergey Brin, and Larry Ellison.
Aside from describing the traits, Jones offers exercises to help us find our strengths and individual paths to wealth. For instance, when describing the need to look for more than money, he suggests writing your own obituary to visualize your lifetime goals.
Review:
I found The Richest Man in Town: the Twelve Commandments of Wealth to be an interesting and absorbing read largely because of the wealth of stories shared by his sources.
Some of the quotes are particularly memorable and here are a few that I can't resist sharing:
"I always tell young people there is no substitute for hard work and diligence. It takes eight hours a day of hard work to be a success, but it takes most people twelve or thirteen hours a day to do eight hours of good work."
- Joe Taylor, former CEO of Southland Log Homes and secretary of commerce for SC
"Everyone should have at least one silent goal. This is a goal that is known only by you. It's a reach goal, one that is extremely hard to attain, but potentially life altering, even world changing. These kinds of world-changing golas are realized by only very few people. If you don't reach them, you certainly won't be judged by others-it's your well-kept personal secret."
-Dr. Thomas Frist Jr., co-founder of Hospital Corporation of America (HCA), the largest for-profit hospital management company
As I read, my copy slowly filled up with post-it tabs and notes. I highly recommend the book for those interested in business books and personal finance and for their loved ones who might need personal finance tips.
August 7, 2009
According to The Richest Man In Town by W. Randall Jones, Stephen Bisciotti is the richest man in my hometown. Do you know who is the richest man in your hometown? If you have ever wondered you can probably discover him in Jones’s new book. In addition to listing the local Donald Trumps The Richest Man In Town attempts to answer how they became so successful.
To that end Jones interviews many of the richest men, from both large and small towns, to discern the twelve commandments of wealth:
-- Seek Money for Money’s Sake and Ye Shall Not Find
-- Find Your Perfect Pitch
-- Be Your Own Boss
-- Get Addicted to Ambition
-- Wake Up Early—Be Early
-- Don’t Set Goals – Execute or Get Executed
-- Fail to Succeed
-- Location Doesn’t Matter
-- Moor Yourself to Morals
-- Say Yes To Sales
-- Borrow from the Best – and the Worst
-- Never Retire
Many above the commandments are counter-intuitive and it was interesting to read how taking the proverbial road not taken led to their success. I also enjoyed the vignettes of various wealthy men. For example, I learned that Dell Computer wasn’t Michael Dell’s first business. Rather he started at age twelve by selling stamps on consignment and made $2,000! Not many twelve year olds have that drive or success. The Richest Man In Town is filled with other equally awe-inspiring stories.
As in everything in life, there is a downside to being the richest man in town. For instance, Leroy Landhuis, the richest man in Colorado Springs, confesses, “I have not been successful in my personal life the way I would have liked to be. My marriage wasn’t successful and at times, I have been much too occupied with business.” Such candid admissions, however, are few in far between in The Richest Man In Town.
It is clear that Jones is enamored with his subjects. In fact, he admits, “as hard as I tried to be a totally dispassionate journalistic observer of these big buck creators, I found that a very, difficult, near impossible task.” A little journalistic distant, however, might have led to more insights and made a more balanced view. Still if you are curious as to what it is like to cruise down the yellow brick road of success then The Richest Man In Town provides a front row seat!
To that end Jones interviews many of the richest men, from both large and small towns, to discern the twelve commandments of wealth:
-- Seek Money for Money’s Sake and Ye Shall Not Find
-- Find Your Perfect Pitch
-- Be Your Own Boss
-- Get Addicted to Ambition
-- Wake Up Early—Be Early
-- Don’t Set Goals – Execute or Get Executed
-- Fail to Succeed
-- Location Doesn’t Matter
-- Moor Yourself to Morals
-- Say Yes To Sales
-- Borrow from the Best – and the Worst
-- Never Retire
Many above the commandments are counter-intuitive and it was interesting to read how taking the proverbial road not taken led to their success. I also enjoyed the vignettes of various wealthy men. For example, I learned that Dell Computer wasn’t Michael Dell’s first business. Rather he started at age twelve by selling stamps on consignment and made $2,000! Not many twelve year olds have that drive or success. The Richest Man In Town is filled with other equally awe-inspiring stories.
As in everything in life, there is a downside to being the richest man in town. For instance, Leroy Landhuis, the richest man in Colorado Springs, confesses, “I have not been successful in my personal life the way I would have liked to be. My marriage wasn’t successful and at times, I have been much too occupied with business.” Such candid admissions, however, are few in far between in The Richest Man In Town.
It is clear that Jones is enamored with his subjects. In fact, he admits, “as hard as I tried to be a totally dispassionate journalistic observer of these big buck creators, I found that a very, difficult, near impossible task.” A little journalistic distant, however, might have led to more insights and made a more balanced view. Still if you are curious as to what it is like to cruise down the yellow brick road of success then The Richest Man In Town provides a front row seat!
October 30, 2009
The Richest Man in Town by W. Randall Jones (pp 256)
Jones seeks out the 100 richest self-made men and women in the United States and attempts to find commonalities between them and what made them who they are today. The first half of the book describes 12 Commandments of Wealth that he’s synthesized from all 100 interviews to describe the super self-made rich but it’s not a very statistical set and it’s very, very anecdotal and incredibly light. Some of the quotes and bits are interesting, but unfortunately, 80% focuses on the more well-known super rich and a small subset of the 100 person group. A lot of the content would qualify only for the side bar of a magazine article. The last half of the book is a ½ to ¾ of page on each of the 100 men and women who made the list and what they did. The conclusion of the book was the most interesting and would have made a better start to a whole different book (see pp. 227-230).
Jones, as editor of Worth Magazine and with years of the magazine business behind him stays within that comfort zone. For this reader, it disappoints. After sitting and talking with 100 of the richest people in the world, I would hope for some more interesting insights than they’ve been selling since they were teenagers, they consider their work their hobbies, they don’t plan on retiring, they hire good people and that they do what they love.
I heard Jones speaking about this book while listening to a radio program and what he shared about this project in that segment was far more interesting and detailed than this. The Millionaire Mind by Thomas Stanley goes much further into the common threads among the rich, though not the super rich. And while that book is not as fluid a read, it actually contains the type of analytical content you’d expect when presented the title and introduction of this book. The Millionaire Mind is complex and analytical, definitely beyond what you’d find in a 1000 word article. The Richest Man in Town is apparently still a mystery and very brief. There is probably a much better book in Jones’s interview notes.
Jones seeks out the 100 richest self-made men and women in the United States and attempts to find commonalities between them and what made them who they are today. The first half of the book describes 12 Commandments of Wealth that he’s synthesized from all 100 interviews to describe the super self-made rich but it’s not a very statistical set and it’s very, very anecdotal and incredibly light. Some of the quotes and bits are interesting, but unfortunately, 80% focuses on the more well-known super rich and a small subset of the 100 person group. A lot of the content would qualify only for the side bar of a magazine article. The last half of the book is a ½ to ¾ of page on each of the 100 men and women who made the list and what they did. The conclusion of the book was the most interesting and would have made a better start to a whole different book (see pp. 227-230).
Jones, as editor of Worth Magazine and with years of the magazine business behind him stays within that comfort zone. For this reader, it disappoints. After sitting and talking with 100 of the richest people in the world, I would hope for some more interesting insights than they’ve been selling since they were teenagers, they consider their work their hobbies, they don’t plan on retiring, they hire good people and that they do what they love.
I heard Jones speaking about this book while listening to a radio program and what he shared about this project in that segment was far more interesting and detailed than this. The Millionaire Mind by Thomas Stanley goes much further into the common threads among the rich, though not the super rich. And while that book is not as fluid a read, it actually contains the type of analytical content you’d expect when presented the title and introduction of this book. The Millionaire Mind is complex and analytical, definitely beyond what you’d find in a 1000 word article. The Richest Man in Town is apparently still a mystery and very brief. There is probably a much better book in Jones’s interview notes.
July 10, 2012
Part one and part two of the book were very interesting. In the first part he talks about himself and his background. In the second part it's about the 12 "commandments" of all the rich men/women he interviewed.
It was interesting to read about the common grounds these people have. I am not sure if any of this will make it more likely for you to become the richest man/woman in your town but it won't hurt you either.
Part three of the book is about the lifestyle traits of all these people and the profiles of all the interviewed men and women.
Part three seemed to be a little repetitive. I don't think it added anything of value to the book. The book would have probably been a little short without it.
Overall it was a quick read and I enjoyed it. I have always been wanting to read a book like this and I think it was well done. But to be honest, I think you could get the most out of this topic by simply publishing a book with the interviews with these people. But hey, that's just me.
And for those of us that are not fit to become the richest man/woman in town by working hard there is still Powerball!
It was interesting to read about the common grounds these people have. I am not sure if any of this will make it more likely for you to become the richest man/woman in your town but it won't hurt you either.
Part three of the book is about the lifestyle traits of all these people and the profiles of all the interviewed men and women.
Part three seemed to be a little repetitive. I don't think it added anything of value to the book. The book would have probably been a little short without it.
Overall it was a quick read and I enjoyed it. I have always been wanting to read a book like this and I think it was well done. But to be honest, I think you could get the most out of this topic by simply publishing a book with the interviews with these people. But hey, that's just me.
And for those of us that are not fit to become the richest man/woman in town by working hard there is still Powerball!
June 24, 2009
Interesting book, but I would agree - too many anecdotes - and not detailed anecdotes, more like quotes from rich guys without delving deep enough into who they are. I found myself skipping around rather than reading straight through. The twelve commandments themselves are helpful if you want to build wealth through entrepreneurship. However, it sounds like many of these traits are something you either have or don't have (like boundless energy and ambition).
I was attracted to this book because I like to see people succeed and see how they did it. I think those that envy the rich should read this book and understand how much work and risk it takes. At the same time, I find the personal success stories in the Reader's Digest better written and more compelling.
I was attracted to this book because I like to see people succeed and see how they did it. I think those that envy the rich should read this book and understand how much work and risk it takes. At the same time, I find the personal success stories in the Reader's Digest better written and more compelling.
March 28, 2010
My first thought when I started this book was Horatio Alger. There is a rich man in your town, he is worth 150 Million + and you can do it too.
However, this book ends up being more of a general work success book than a get rich quick (or at all) book. The book contains good, general advice on how to be successful in your life. Some of the advice is good and can be achieved. Some is not so much. You can tell me that I have to enjoy work to be rich until you're blue in the face, but until I figure out how to get paid for reading books and playing video games in a casual manner it's not going to happen.
If you do pick this book up, do so for the anecdotes and stories and not the advice. It IS a feel good, get motivated book, even if the advice can be hard to follow.
However, this book ends up being more of a general work success book than a get rich quick (or at all) book. The book contains good, general advice on how to be successful in your life. Some of the advice is good and can be achieved. Some is not so much. You can tell me that I have to enjoy work to be rich until you're blue in the face, but until I figure out how to get paid for reading books and playing video games in a casual manner it's not going to happen.
If you do pick this book up, do so for the anecdotes and stories and not the advice. It IS a feel good, get motivated book, even if the advice can be hard to follow.
May 30, 2011
A Goodreads Giveaway!
I really liked this book! It had a lot of wisdom in it. My husband read it, and he really liked it too. I liked that it wasn't one man's theories on wealth. It was a compilation of many successful people's advice and what they had in common. My favorite quote was one from Winston Churchill that I haven't heard before, "We make a living by what we get; we make a life by what we give."
I really liked this book! It had a lot of wisdom in it. My husband read it, and he really liked it too. I liked that it wasn't one man's theories on wealth. It was a compilation of many successful people's advice and what they had in common. My favorite quote was one from Winston Churchill that I haven't heard before, "We make a living by what we get; we make a life by what we give."
June 6, 2016
I enjoyed reading this, but the current top review sums up the issues well. 1. It's not really a blueprint for regular wealth, more like fabulous wealth. 2. The stories of people who obtained fabulous wealth are heavily influenced by survivorship bias. These people definitely seem to have great personal codes worth reviewing for your own, but plenty of other people could have followed these same codes and crashed and burned.
June 11, 2009
I haven't actually finished this book and don't think I will. It is good and even interesting in some ways, I'm just not that into it right now. I think it would be a great gift for a college graduate. It is not all about money but about hard work and things that drive really successful(not just rich) people.
July 27, 2010
Rich isn't just about dollars. These 100 RMIT have wealth in spirit and generosity as well. Interesting to learn of their educational background and the types of industries they succeeded in, the way they give back to their hometowns and alma maters. I love it when I find a good read on the library's New Book shelf.
June 22, 2009
The author identifies one hundred of the richest people in America and presents their common approaches to life. An informative and enjoyable book, not to mention one that could point you towards greater wealth.
September 7, 2011
Forced myself to finish this book all the time wondering WHY I had wanted to read it. Turns out there is another book by the same title (different author) that I DID want to read. What a waste. I guess I did learn I have no interest in being wealthy...
June 4, 2009
Nothing happens until something is sold. Nothing happens unless someone sells something, and that begins the chain of commerce.
October 9, 2009
Great stories! Fun read and interesting.
January 16, 2010
Learned a few points, but not the strongest book of this genre.
September 6, 2010
Si quieres saber quienes son los ricos en en mundo moderno y su historia, leelo, pero es como leer forbes.
May 7, 2013
Just read it! It will change the way you think, which is the starting point and a catalyst for success.
April 3, 2013
Interviews of Richest Men/Women in Towns across America. Very interesting knowing how millionaires/billionaires are built.
February 5, 2016
Absolutely worth it's weight in gold! Read it, devour it, live it. In a very readable style with interviewed research to back it up. I loved it!
May 12, 2010
Neat quick little read on the life of private business owners who are billionaires.
Displaying 1 - 27 of 27 reviews