The Millionaire Next Door

Wal-mart CEO-Leadership

In The Millionaire Mind, I mentioned that the millionaire population contains a disproportionately high concentration of people who told me that integrity is a critical factor in explaining their economic success.  “Being honest with all people” was tied [with being well disciplined] for first in regard to the percentage of millionaires who rated it as a very important reason for their success.” I was reminded of this while reading an interview with Mike Duke, the CEO of Wal-Mart.  He was asked “what should a leader value most?”  He answered:

Integrity and trust.  If a leader doesn’t have the trust of associates, of customers, of shareholders, then all the other things, to speak eloquently and to sing and dance and entertain, [don’t] mean a thing if a leader’s not trusted.

Mr. Duke’s profile is also congruent with many of the other characteristics of the millionaires I have studied.  He attended a public/state university; he majored in engineering, and he was raised in the South [the South along with the Midwest produces a disproportionately large share of millionaires].  Also, as I cited in Stop Acting Rich, those who are among the most productive in transforming income into wealth are likely to purchase apparel at Wal-mart! 

2 thoughts on “Wal-mart CEO-Leadership”

  1. It is interesting that the research bears out that millionaires tend to have integrity and trust yet those who aren’t try to project the opposite characteristics upon them.

  2. Dr. Stanley first of all I would like to say thank you for your continued excellence of work. I have heard about your books for years however I have never read them. I just started reading millionaire mind this week. Bravo! So many light bulbs went on in my head. I am a life long student and researcher of the most powerful people on the planet. One consistent factor that I have found to be prevelant among all powerful people is an extraordinary level of inner peace. To me having inner peace is the foundation for being able to live a life of intergity and trust. I am only on page 36 of your book and I look forward to completing and reading more of your work. Peace.

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