How fortunes are made when the world seems to be falling apart

Economic crises are often remembered for hardship, unemployment, and turmoil. Yet throughout history, some individuals have managed to turn the darkest financial moments into life-changing opportunities. These are not just stories of luck—they reveal patterns, strategies, and mindsets that allow wealth to grow even when the economy is collapsing.

In this article, we explore remarkable real-world examples of people who became millionaires during economic downturns, and what modern entrepreneurs, investors, and professionals can learn from them.

Why Do Some People Get Rich During Crises?

Before jumping into the examples, it’s important to understand why crises can create millionaires:

Asset prices crash, making valuable assets cheap.
Competition decreases, as many businesses fail or retreat.
New needs emerge, creating openings for innovative products.
Governments stimulate markets, injecting money into the economy.
Those with strong strategies—not luck—capitalize first.

Now let’s see how this played out in different crises throughout history.

1. The Great Depression (1929–1939): Wealth from Market Chaos

Jesse Livermore — “The Man Who Shorted the Crash”

During the 1929 stock market crash, Jesse Livermore became one of the richest men in the world by shorting the market before the collapse. While millions lost everything, Livermore reportedly earned over $100 million (equivalent to billions today).

His Strategy:

Deep understanding of market psychology
Short selling at the peak of bubbles
Acting decisively when others panicked

2. World War II: Opportunity in Supply and Manufacturing

Henry J. Kaiser — The Industrial Giant

Kaiser transformed wartime manufacturing by producing cargo ships at unprecedented speeds. His companies boomed while wartime demand soared.

He became wealthy by:

Scaling factories
Meeting urgent new needs
Innovating production efficiency

Kaiser later used his success to found Kaiser Permanente, now one of the largest healthcare systems in the U.S.

3. The 1970s Energy Crisis: Oil Barons Rise

J. Paul Getty — Capitalizing on Oil Expansion

Although Getty’s empire started earlier, his wealth surged during the oil shocks of the 1970s, when energy prices skyrocketed. He had already acquired oil companies and reserves at low cost, which later multiplied in value.

4. The Dot-Com Crash (2000): Buying Tech for Pennies

Jeff Bezos and Amazon — Crisis as a Springboard

After the dot-com bubble burst, many internet companies collapsed. Amazon’s stock fell nearly 90%, but Bezos used the crisis to restructure and expand.

By focusing on infrastructure, logistics, and efficiency, Amazon emerged stronger and later became one of the world’s most valuable companies—turning early shareholders into millionaires.

5. The 2008 Global Financial Crisis: Real Estate and Tech Explosion

Warren Buffett — “Be Fearful When Others Are Greedy…”

During the crisis, Buffett invested billions into companies most people believed were doomed, such as Goldman Sachs and Bank of America. These investments later produced enormous returns.

Airbnb & Uber — Born During the Crisis

Two of the biggest startups in history launched in the middle of the 2008 recession:

Airbnb solved the problem of people needing cheaper travel.
Uber solved transportation inefficiencies.

Both became multi-billion-dollar companies, creating thousands of millionaires among early investors and employees.

6. The COVID-19 Pandemic (2020): A New Wave of Digital Millionaires

E-commerce Entrepreneurs

Lockdowns accelerated online shopping. Thousands of small sellers on Amazon, Shopify, and Etsy scaled rapidly and reached million-dollar revenues in months.

Zoom Founder Eric Yuan

Zoom became essential during global lockdowns, and Yuan’s net worth surged from $3 billion to over $20 billion in 2020 alone.

Crypto Traders & Investors

Bitcoin fell below $5,000 in March 2020—then surged past $60,000 in 2021. Those who bought during the crash made massive gains.

What These Millionaires Have in Common

Across every era, crisis millionaires share specific traits:

1. They act while others panic.

Most people freeze or retreat. Crisis millionaires move forward.

2. They buy undervalued assets.

Real estate, stocks, businesses—crashes make everything cheaper.

3. They solve new problems created by the crisis.

Big money follows big needs.

4. They diversify and think long-term.

They don't chase quick wins—they build for the future.

5. They see crisis as a window, not a wall.

Mindset separates survivors from wealth builders.

How You Can Apply These Lessons Today

You don’t need millions to take advantage of an economic downturn. Here are practical steps:

✔ Invest in undervalued industries

Tech, real estate, and renewable energy often rebound faster after crashes.

✔ Build recession-proof skills

Coding, AI, digital marketing, finance, healthcare, and logistics thrive in all climates.

✔ Start an online business

Digital companies scale even during downturns.

✔ Learn to identify market cycles

Every crash in history has eventually been followed by recovery.

Final Thoughts: Crisis Creates Opportunity

Economic downturns feel frightening—but history shows they also generate the most dramatic wealth transformations. While crises bring risk and uncertainty, they also reset markets, clear out competition, and create entirely new industries.

The people who became millionaires in crises didn’t succeed because times were good—they succeeded because they recognized opportunity when others only saw chaos.

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Wednesday, December 3, 2025

The People Who Became Millionaires During the Worst Economic Crises