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What I learned from Andrew Carnegie
Mellody Hobson
President, Ariel Investments

When I was 22, a friend who is very successful explained to me that no one ever got rich through earned income. "Look at all the great wealthy families," he said. "From Carnegie to Rockefeller, it was never how much they made at work that made them wealthy - it was their investments."

And that made me shift from thinking about a paycheck to thinking about building equity and long-term wealth. And it has helped me a lot. Instead of a raise, I ask for more stock.

NEXT: Study Warren Buffett

Last updated July 22 2008: 11:27 AM ET
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