Venturing out to start your own business can be an exciting but overwhelming experience, especially when the odds are stacked against you. According to 2017 data from the Bureau of Labor Statistics (the most recent data available), 70% of small businesses fail within the first 10 years. But, as you get started and take those first steps, remember that every entrepreneur must start somewhere.

It can be comforting to know that many of the most successful entrepreneurs came from modest beginnings. Regardless of where you are in your entrepreneurial journey, it may help to explore the stories of successful entrepreneurs. Doing so may help you learn from their mistakes and savvy moves. Below, we discuss what makes an entrepreneur successful and examples of successful entrepreneurs.

What Makes an Entrepreneur Successful?

There is no formula for entrepreneurial success. If you look at the journey of any successful entrepreneur, you will find they started with an idea. However, turning an idea into success requires years of dedication. It also takes focus, agility, careful planning and leveraging the right resources.

If you are an aspiring entrepreneur, you must think beyond the obvious and how your ideas can drive progress and push society forward. Once you have an idea, strategic planning and determination are key. With time and persistence, you can join the ranks of successful entrepreneurs.

Successful Entrepreneurs

Entrepreneurs are responsible for many of the innovations and conveniences that shape our world. From technology innovators to beauty moguls, the following list of successful entrepreneurs shows what can be achieved with hard work.

Jeff Bezos, Founder of Amazon

One of the biggest names in online retail is Jeff Bezos, the founder of Amazon. Amazon is the largest e-commerce company in the world. Bezos began his career at the investment research platform Fintel, where he developed its international trade system before transitioning to banking. After five years in banking, he started an online bookstore, Cadabra. He later changed the name of the website to Amazon. Over time, the website’s offerings expanded dramatically. 

Steve Jobs, Co-Founder of Apple

The late Steve Jobs was the Chairman, CEO and co-founder of Apple Inc. Jobs was a constant inspiration for aspiring entrepreneurs. He and Steve Wozniak started Apple Computers in a garage decades ago and funded it by selling personal possessions.

Jobs left Apple for a few years and saved Pixar Animation Company from shutting its doors in the interim. Pixar is now a leader in animation and entertainment.

His return to Apple sparked the company’s rapid ascent, as Jobs spearheaded the creation of innovative products that captivated the public and generated strong demand. It is one of the Big Four technology companies alongside Google, Facebook and Amazon.

Elon Musk, Founder of SpaceX, CEO of Tesla and Owner of X

Elon Musk, the founder of SpaceX, co-founder and CEO of Tesla and owner of X (formerly known as Twitter), embodies innovation and creativity. Musk started his entrepreneurial journey at an early age. At age 12, he created his own video game, which he later sold to a computer magazine.

After Musk completed his bachelor’s degree in physics and economics in 1997 at the University of Pennsylvania, he launched several business ventures. One of his most notable ventures was the e-payment platform X.com, now known as PayPal. He also purchased Twitter in 2022 and changed the name to X in 2023.

Mark Zuckerberg, Founder, Chairman and CEO of Meta

Mark Zuckerberg founded Facebook while studying at Harvard University. Within two weeks of launching the platform, nearly half the students at Harvard signed up. Zuckerberg’s roommates, Dustin Moskovitz and Chris Hughes, helped him finesse the platform by adding features and expanding its reach. He later dropped out of Harvard University and moved to Palo Alto, CA, with friends to focus on Facebook. In 2021, 17 years after Facebook was established, it was rebranded to Meta to represent its collection of apps and services. 

Melinda French Gates, Founder of Pivotal Ventures

Melinda French Gates is a businesswoman and philanthropist and is one of the world’s most successful female entrepreneurs. After French Gates completed her B.S. in computer science and M.B.A. in economics at Duke University, she accepted a role at Microsoft in product development. Throughout her career, she has spearheaded several organizations, including the Bill & Melinda Gates Foundation. She currently leads Pivotal, which she founded in 2015. Pivotal works to advance women’s power worldwide. 

Sam Walton, Founder of Walmart and Sam’s Club

The late Sam Walton earned his degree in economics in 1940 from the University of Missouri. In 1945, he opened a discount store called Ben Franklin. By the early 1960s, he and his brother operated a chain of Ben Franklins. Eager for more, Walton pitched the idea of a new, small-town discount store chain. Company leadership rejected the idea, but Walton ventured off to implement the idea on his own.

In 1962, he opened Wal-Mart Discount City, now known as Walmart. Walton started Sam’s Wholesale Club in 1983. By the 1990s, Walton had grown Walmart into the biggest retail chain in the U.S., a status the company still holds.

Larry Page and Sergey Brin, Co-Founders of Google

Larry Page co-founded Google alongside Sergey Brin. While studying at Stanford University, Brin and Page worked on a research project that evolved into Google. In 1996, the pair launched the site at Stanford University. To grow the site, Page and Brin raised $1 million in financing from investors and loved ones.

In 1998, the pair established Google Inc., and Page was named the CEO. A year later, the company gained $25 million of venture capital funding. In 2015, Google was rebranded to Alphabet to represent its collection of companies. 

Ted Turner, Founder of Cable News Network (CNN)

Ted Turner founded Cable News Network (CNN). In 1956, Turner enrolled at Brown University but was later expelled. He went on to start working for his family business, Turner Advertising Company, which he later took over. In 1970, Turner purchased a struggling TV network and turned it into one of the most profitable and independent stations in the U.S. In addition, his company was one of the first to use a satellite to broadcast his station. In 1980, he launched CNN, the first live 24-hour global news network. His vision transformed modern television.

Jack Dorsey, Co-Founder of X (Formerly Twitter)

Jack Dorsey is a co-founder of Twitter, which is now known as X. When he was still a teenager, Dorsey developed taxi-dispatching software that taxicab companies adopted. He went on to study at New York University before he moved west to San Francisco, CA, in 1999. There, Dorsey started a company that handled dispatch for emergency vehicles and taxis. Several years later, he partnered with Twitter co-founders Evan Williams and Christopher Stone to create the prototype for the platform. Together, they launched Twitter in 2006. In addition, Dorsey is the founder and CEO of Block, a financial payment company that allows people to start and run businesses.

Michael Dell, Founder, Chairman and CEO of Dell Technologies

Michael Dell is a visionary who changed the way technology is created and sold. In 1984, Dell founded Dell Technologies with only $1,000 in capital as a 19-year-old student at the University of Texas at Austin. After he launched, he dropped out of school to run the company full-time. Four years after he founded the company, he took Dell public. In 1992, Dell was ranked in the Fortune 500 and was the youngest CEO and one of the youngest famous entrepreneurs to achieve that honor. 

Richard Branson, Founder of Virgin Group

Richard Branson founded the Virgin Group, a British multinational venture capital conglomerate of over 400 companies. Branson, who dropped out of school, started his first business as a teenager. The business was a magazine called “Student.” When the publication started losing money, he created Virgin Mail Order Records to raise funds. By 1971, that venture inspired him to open the first discount record store in Britain.

Two years later, Branson helped create Virgin Records. Virgin Records became the premier label for punk and new wave music. In 1984, Branson became the primary investor in an airline that he later rebranded Virgin Atlantic Airways. The Virgin conglomerate operated about 100 businesses and was one of the biggest privately held companies in the United Kingdom.

Beyoncé Knowles-Carter, Founder of Ivy Park and Cécred  

As one of the world’s most successful professionals, Beyoncé is widely known for her singing career and global brand. She started her career in the 1990s as a part of the famous R&B group Destiny’s Child but later launched an incredible solo career. In the last few decades, Beyoncé has expanded her entrepreneurial endeavors to produce records and a streaming music service, model, act and serve as a spokeswoman for brands such as Pepsi and L’Oreal. 

She started a film production company called Parkwood Entertainment in 2010 and partnered with retail mogul Philip Green to launch the lounge and activewear brand Ivy Park in 2016. Beyoncé bought out Green for total ownership of the Park Ivy brand in 2018. In 2024, she launched the haircare brand Cécred.

Michael Bloomberg, Founder of Bloomberg LP

Michael Bloomberg is the founder of Bloomberg LP. Bloomberg studied engineering at Johns Hopkins University and later attended Harvard University, where he earned his MBA. After school, he landed a job at Salomon Brothers investment bank. After 15 years with the company, he became a partner. However, he was left without a job when another firm acquired Salomon Brothers in 1981. 

In 1982, the buyout provided the financial backing for him to create a financial data-services firm. Innovative Market Systems was later renamed Bloomberg LP and is now an international leader in economic, software, data and media services. 

Rihanna, Founder of Fenty Beauty

Rihanna is a famous singer, actress and entrepreneur. Although she is a musical powerhouse, Rihanna gathers most of her wealth from her business ventures. Among her most lucrative businesses are her undergarment line, Savage X Fenty and her makeup and skincare brand, Fenty Beauty. Co-owned by LVMH, the skincare brand launched in 2017. It received immediate praise from fans because it offers an incredibly inclusive makeup line for all skin tones.

Jack Ma, Founder of Alibaba

Jack Ma is the founder of China’s largest e-commerce company, Alibaba. Ma started his professional life as an English teacher and translator. His interest in the internet led him to create a website in 1999. The website allowed international merchants to post listings, and consumers could buy directly from them. By 2005, the company was thriving and bringing in billion-dollar investors. Ma left his position as CEO in 2013 but remained with Alibaba as Executive Director. In 2017, Fortune ranked Ma second on its World’s 50 Greatest Leaders list.

Reed Hastings, Founder of Netflix

Reed Hastings is the founder of Netflix, a popular media streaming and former video rental service. Born in Boston, MA, Hastings attended Bowdoin College and studied mathematics. He went on to serve in the U.S. Marine Corps and spent two years in the Peace Corps. He later graduated from Stanford University with a master’s degree in computer science. Hastings became a software developer and founded Pure Software in 1991. In 1997, he sold the company and co-founded Netflix, where he served as the CEO from 1998 until 2023. Now, Reed serves as its Chairman.

Larry Ellison, Co-Founder of Oracle

Larry Ellison is a co-founder of the software company Oracle. He briefly attended both the University of Chicago and the University of Illinois before he began his career as a computer programmer. While working for Ampex in California, he met Bob Miner and Ed Oates. In 1977, the trio formed Software Development Laboratories (SDL), which was created to do contract programming for other companies. In 1982, the company rebranded itself as Oracle. By 1987, Oracle had become the largest database management company in the world. While Ellison is no longer the CEO of the company, he continues to serve as its Board Chairman and Chief Technology Officer.

Dov Moran, Managing Partner at Grove Ventures

While Dov Moran is a Managing Partner at Grove Ventures, he is best known as the inventor of the USB flash drive. Moran was interested in electronics at a young age, buying and building different components to create circuits. He started his career by working on microprocessor technologies. At the end of the 1990s, Moran founded M-Systems, a company that built its success on distributing flash storage media like USB drives. Since selling his company in 2006 to SanDisk for $1.6 billion, he has worked on other enterprises as an investor and an inventor.

Kevin Systrom and Mike Krieger, Co-Founders of Instagram

Kevin Systrom and Mike Krieger are the co-founders of Instagram. Born in Holliston, MA, Systrom was passionate about collecting records and deejaying. He graduated from Stanford University with a degree in management science and engineering. While there, his interests expanded to include photography. During college, he met notable figures like Mark Zuckerberg, who tried to recruit him, and Evan Williams, who later co-founded Twitter. 

After graduating, he worked at Google and other major companies. However, his true passion was his own app, Burbn. Burbn became Instagram after Krieger became involved. Systrom served as CEO until 2018.

Like Systrom, Krieger attended Stanford University and had a passion for technology. Before launching Instagram, he worked at various tech companies and contributed to the development of the app Meebo. Krieger has since stepped down from Instagram. 

Jessica Alba, Co-Founder of The Honest Company

Jessica Alba is best known for her decades-long acting career, starring in popular films. However, in the 2010s, she shifted her focus toward entrepreneurship and launched her own business. In 2012, Alba founded The Honest Company, which sells clean and sustainable beauty, baby, skincare and cleaning products and more. Currently, the company offers products through major online retailers and about 50,000 retail locations across the U.S. and Canada.

Garrett Camp, Co-Founder of Uber

Garrett Camp is the co-founder of Uber and currently serves as its chairman. However, before Uber, Garrett founded StumbleUpon in 2002, a web discovery tool he sold to eBay in 2007 for $75 million. He grew that company to over $25 million users during his time as CEO. Beyond his experience with Uber and StumbleUpon, he is the founder of Expa.com. This is a startup studio that develops and launches new products.

Brian Chesky, Co-Founder of Airbnb

Brian Chesky co-founded Airbnb and currently serves as its CEO. He met co-founder Joe Gebbia in college at the Rhode Island School of Design. Today, the company has thousands of hosts and has welcomed millions of guests in countries across the globe.

Before Airbnb took off, Brian worked as an industrial designer in Los Angeles, CA. Like other successful entrepreneurs, Chesky joined The Giving Pledge and has dedicated much of his wealth to scholarships and philanthropic ventures in public service.

Vera Wang, Founder of Vera Wang

Anyone who follows fashion knows Vera Wang. She is a fashion designer and founder of the company named after her. While Wang is most commonly known as a designer of wedding dresses, her company has branched out to include jewelry, fragrances, eyewear and more. She started her career as an assistant to a fashion designer at Vogue and became a fashion editor by age 23. She then moved on to Ralph Lauren before starting her own company, Vera Wang Bridal House, in New York City.

Warren Buffett, Chairperson of Berkshire Hathaway

Warren Buffett is considered one of the most successful entrepreneurs and investors of all time. Buffett grew up in Omaha, NE, the son of U.S. Rep. Howard Homan Buffett. At age 11, Buffett bought stock for the first time and started filing taxes at age 13. After earning his business degree, Buffett returned to Omaha and bought majority control of textile manufacturer Berkshire Hathaway Inc. Today, Berkshire Hathaway owns dozens of companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen. He is also a creator and signatory of The Giving Pledge.

Arianna Huffington, Founder of The Huffington Post

Arianna Huffington is the founder of The Huffington Post, a news website, and the founder and CEO of Thrive Global, which provides behavior-change technology. She has authored 15 books, including bestsellers “Thrive: The Third Metric to Redefining Success and Creating a Life of Well-Being, Wisdom, and Wonder” and “The Sleep Revolution: Transforming Your Life, One Night At A Time.” She is from Greece but moved to England to attend Cambridge University, where she graduated with an M.A. in economics. Huffington has appeared on TIME Magazine’s list of the World’s Most Influential People, and Forbes placed her on their list of Most Powerful Women.

To learn about more Black entrepreneurs, young entrepreneurs and other important topics, follow Robert F. Smith on LinkedIn.