Advertisement

Do you feel like your chances of success as an entrepreneur are lower after 50? If so, then don't worry. There are plenty of people who have done amazing things for their businesses as they get older. Many entrepreneurs experience a new lease on life in their 50s and 60s!

The highest growth of entrepreneurship worldwide has changed to those 55 and up, proving that it is never too late to be entrepreneurs. If there is one piece of advice we will give to any aspiring entrepreneur, don't let go of hope or quit because you're afraid to fail. You never know what might happen if you keep going!

Advertisement

Martha Stewart started her business at Age 50

Aging with the wisdom of a seasoned chef, Martha Stewart has remained at the top of her game by constantly developing new ventures and branching out to newer markets. In 1997 she founded The Martha Steward Living Omnimedia Company, which at its height was valued at $2 billion. Martha herself has amassed an impressive personal net worth of $400 million.

Martha Stewart attends Vanity Fair's 6th Annual New Establishment Summit at Wallis Annenberg Center for the Performing Arts on October 22, 2019 in Beverly Hills, California Matt Winkelmeyer / Getty Images for Vanity Fair
Advertisement

Leo Goodwin Started Geico at Age 50

The Great Depression was a dark time for America. Family incomes plummeted, and many people were unemployed or underemployed while the prices of goods went up dramatically. Leo Goodwin's story defies these statistics. He had an idea to start his own insurance company during this challenging period!

Despite the risks, Leo and Lillian created GEICO because they recognized that military personnel was a financially stable group. They kept their costs low to ensure they could price competitively and by year's end had 12 employees. Today Geico is a thriving business with $35 billion in revenue.

Daytime photo of a car's headlights Photo by Sarah Brown on Unsplash
Advertisement

Harland Sanders started KFC at Age 62

Harland Sanders, better known as Colonel Sanders, started Kentucky Fried Chicken at age 62. What he found in 1939 changed the course of his life. He had been trying to create that perfect flavor for so long and with no success until one day, when a new device showed him just what it takes: pressure cooking. KFC has become the most popular chicken restaurant globally, with more than 18,000 locations and $27.9 billion in annual revenue.

Still life of KFC Photo by Aleks Dorohovich on Unsplash
Advertisement

Ray Kroc Started McDonald's at Age 52

Ray Kroc became an entrepreneur at age 52 when he took over the McDonald brothers' burger operation. Kroc was one of the wealthiest people during his time with a net worth of $600 million, and his company has grown into a global chain with more than 39000 locations worldwide and over $21 billion in revenue.

McDonalds drive-thru at dusk Photo by Thabang on Unsplash
Advertisement

Bernie Marcus Started Home Depot at Age 50

When Bernard Marcus was 50 years old and working in his father's cabinet shop, he never imagined that one day the company he would co-found with a friend could make him worth as much as $7.8 billion. All of this from someone who wanted to become a doctor but couldn't afford tuition to do so.

He built his company from a small hardware store into the largest home improvement retailer with $110 billion worth of revenue!

A customer pushes a cart after making a purchase at a Home Depot store July 10, 2003 in Philadelphia. U.S. Energy Secretary Spencer Abraham had just visited the Philadelphia Home Depot on a nationwide Smart Energy Tour, discussing the needs for homeowners, consumers, and businesses to be more energy efficient. ( William Thomas Cain / Getty Images
Advertisement

Wally Blume Started Denali Flavors at Age 54

The risks were worth it when Blume used his savings to launch Denali Flavors at 54. This was a calculated move because he had 35 years of experience in the dairy industry despite lacking entrepreneurial experience. Since then, the company has grown into $23.4 million in annual revenue.

still life of ice cream Photo by Krisztina Papp on Unsplash
Advertisement

Arianna Huffington Started Huffington Post at Age 55

When Arianna Huffington was 55, she launched The Huffington Post and named herself the editor in chief. She had already been writing biographies, but it wasn't until her website gained momentum that people started to take notice of this unique woman who defied expectations. Her news outlet is known worldwide for having insightful commentary on politics and current events, which has earned her both fame and fortune with a net worth of $100 million.

Arianna Huffington attends Beautycon Festival Los Angeles 2019 at Los Angeles Convention Center on August 11, 2019 in Los Angeles, California. John Sciulli / Getty Images for Beautycon
Advertisement

Julie Wainwright Started RealReal at Age 55

Julie Wainwright has had a long career in the business world that spans more than two decades. After seeing her previous company shut down, she decided to found The RealReal, a luxury consignment store, with hopes of avoiding what happened at Pets.com. This time it was different! In 2011 when Julie launched The RealReal website and sold $10 million worth of products in just one year, she proved herself as an incredible entrepreneur once again.

Julie Wainwright, founder and chief executive officer of The RealReal Inc., speaks during a Bloomberg Technology television interview in San Francisco, California, U.S., on Wednesday, June 23, 2021. Wainwright discussed how her company first operated out of her kitchen ten years ago and has now become a luxury resale enterprise with millions of customers. David Paul Morris / Bloomberg via Getty Images
Advertisement

Bill Porter Started E-Trade at Age 54

Aiming to disrupt the stock market, Bill Porter founded E-Trade at 54 years old. He took trading online and created a company that has assets worth around $60 billion today. Despite starting the company with $15K in its first year, by 1982, it had revenues of more than $850,000 from customers eager for an affordable way to trade stocks.

A customer checks her stocks on the floor of the new E*Trade Center April 4, 2001 in New York. The E*Trade Center is a state-of-the-art online trading facility that features three floors of terminals, a coffee shop, and a video learning center. Spencer Platt / Newsmakers
Advertisement

Charles Flint Started IBM at Age 61

Charles Flint was an entrepreneur who became famous for founding the Computing Tabulating Recording Company, which later changed its name to IBM. Today IBM is a multinational computer and technology company with over 345,000 employees and annual revenue of $73.6 billion.

IBM logo on a computer Photo by Carson Masterson on Unsplash
Advertisement

Joe DeSimone Started Carbon Investors at Age 50

After decades of being entrenched in the academic world, Joe DiSimone decided to take on the world of entrepreneurship. He had no idea that it would lead him to be one of the most successful entrepreneurs ever when he started at age 50. With over 700 million dollars raised for his venture, Carbon is now worth an estimated $2.5 billion! Investors include brands like Adidas, and BMW among others, have all jumped aboard this ship because they know what will happen when he succeeds - their pockets get filled too!

Joe DeSimone (R), professor of chemistry at The University of North Carolina at Chapel Hill, walks with Suzanne DeSimone at the Allen & Company Sun Valley Conference at the Sun Valley Resort on July 12, 2014 in Sun Valley, Idaho. Many of the world's wealthiest and most powerful executives from media, finance, and technology attend the week-long conference which is in its 32nd year. Scott Olson / Getty Images
Advertisement

Amadeo Giannini Started Bank of America at Age 61

Amadeo Giannini started Bank of America in 1908. He was 61 years old when he founded this company, which now has over $85 billion in annual revenue and is one of the world's largest banks!

 A man uses an ATM at a Bank of America branch on April 16, 2014 in New York City. As the nation's second-largest bank continues to struggle with fallout from the financial crisis, Bank of America reported a $276 million first-quarter loss Wednesday. Spencer Platt / Getty Images
Advertisement

Gordon Bowker Started Starbucks at Age 52

Gordon Bowker started Starbucks when he was 52 years old. Since his childhood, he had been a coffee lover, and it wasn't until 1971 that this passion led him to open the first-ever store in Seattle, Washington. The company has grown into one of the most successful chains with more than 32,000 locations worldwide and annual revenue of over $26.5 billion.

Photo by TR on Unsplash

Disclaimer

This site offers information designed for educational purposes only. The information on this Website is not intended to be comprehensive, nor does it constitute advice or our recommendation in any way. We attempt to ensure that the content is current and accurate but we do not guarantee its currency and accuracy. You should carry out your own research and/or seek your own advice before acting or relying on any of the information on this Website.