Monday, January 10, 2011

5 Tales of Overnight Millionaires

MSN Money put together a list of five individuals who suddenly struck it rich. How these people made it big runs the gamut from entrepreneurial spirit, to inventive natures, to being just plain lucky. You can find a snippet from their article below, or click here for the full list.

    Andrew Mason, entrepreneur

    Andrew Mason, 30, is the brains behind the newest social-media sensation, Groupon.

    Playing off the words "coupon" and "group," the site offers daily discounts on services and products. Revenue for 2010 is expected to have hit an estimated $350 million.

    Pierre Le Guennec, electrician

    For Pierre Le Guennec, a retired French electrician, it was who he worked for that turned him into an instant megamillionaire.

    According to recent media reports, while Le Guennec was employed by Pablo Picasso before Picasso's death in 1973, the artist gave him 271 previously unknown pieces over the course of his employment. Although there is some controversy over these works, the collection of drawings, lithographs, cubist collages and notebooks is valued at an estimated $78 million.

    Sandy Stein, inventor

    At 52, airline flight attendant Sandy Stein invented accessorized key clasps to help women avoid losing their keys in their purses. She called the product Finders Key Purse.

    Within four months of launching the product, Stein's company reached had $1 million in sales; at the eight-month mark, more than one million units were sold. Parent company Alexx expected 2010 earnings to total about $6.5 million.

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