I have heard from Independent Business Owners (IBOs) who feel that Amway has produced more billionaires than any other firm in the United States. That is pure and utter nonsense, in my opinion. To be clear, I am not claiming that Amway has failed to produce any multimillionaires. Naturally, the Amway owners are worth a million dollars or much more. According to the IBOs, however, the diamonds are millionaires, not millionaires-in-the-making. I'm confident that there are some diamonds that are millionaires, especially if they are tenured diamonds, which are very common in the crowns and above categories. However, I feel that many high-level diamonds are not millionaires, on the other hand. I feel that being in debt with a diamond is just as common as being in debt with 100 PV IBOs. I also feel that many diamonds did not amass their supposed fortune just through their affiliation with Amway. Many diamonds' riches, I believe, is a direct result of tool sales, rather than Amway's efforts to promote the company. Due to the higher profit margins of the tools compared to the Amway items, this makes perfect sense for the company.
As a result, these huge pins will appear on stage and display their excessive wealth, implying that it is their Amway revenue that allows them to afford these homes, sports vehicles, jet skis and, in some cases, planes. A function in the United States called "Dream Nite," where these kinds of luxury are shown to the tune of the song "I want to be rich," was one of my highlights of the trip. It is the diamonds' opinion that you can get what they have if you are willing to follow their recommendations. These festivities are still being held today, and I believe some organisations have renamed the event to Winter Conference. The diamonds imply that they can all wake up whenever they want, travel whenever they want, and do whatever they want without having to worry about money. I suppose they are merely acting in the role of illusionists. According to Amway, the income from diamonds is insufficient to maintain the lifestyles portrayed at these fantasy nights. and certainly not by paying in cash for homes and private planes.
"The Millionaire Next Door," written by Stanley and Danko, is a best-selling book.
http://www.personalfinanceplaybook.com/2009/08/the-millionaire-next-door/
This book raises several extremely fascinating points, many of which I believe are applicable to Amway diamonds, which I will discuss below. I'll list the most important ones and then provide my thoughts on them below:
**As expected, the data reveals that the vast majority of persons that you believe to be extremely wealthy are not.
**High net worth persons, on average, are people who live within their means, according to statistics. They don't spend a lot of money on their activities. They are frugal with their resources. They have a reputation for being thrifty individuals.
**According to the writers, the vast majority of the wealthiest people you know do not drive pricey luxury automobiles of the highest calibre. That is the vehicle used by those who want everyone to believe they are wealthy.
Joe's point of view. It is true that approximately one-third of millionaires obtained their fortune through a J-O-B and saved and invested, but the book does point out that a significant number of millionaires were also business entrepreneurs, such as pest treatment company owners, among other things. The book's arguments, however, lead me to believe that diamonds may depict an affluent lifestyle as a recruitment tool, when in reality they may be living fairly middle-class existence off stage, or they may even be in financial trouble. The book Amway: Behind the Smoke and Mirrors by Ruth Carter contains evidence of diamonds having their homes foreclosed on and becoming indebted to the company. A recent storey stated that Triple Diamond Greg Duncan had applied for bankruptcy protection. The report stated that he was unable to make his mortgage payments, or anything along those lines. Odd, because while I was in WWDB, some of the upline leaders claimed that diamonds paid cash for everything because paying interest to the bank wasn't a very good business decision, which I found strange.
My concern is, why do independent business owners (IBOs) continue to make up these claims? Try searching for millionaire or Amway millionaire on Google. There is no evidence to suggest that Amway was responsible for the creation of the "highest number of millionaires" of any US corporation. Surely Amway would make this clear on their website if it were the case. If anyone can verify the authenticity of this report, please let me know so that I can post it. Unfortunately, you will not/
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