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- Episode 031 Getting Healthy Part 1: The Benefits of Adopting a Plant-Based Diet
- Episode 030 Is GOVERNMENT Above the LAW? | The DO NOT CALL List | Bankruptcy | Insider Trading and Martha Stewart
- Episode 029 Investing and Trading | The Oracle of Omaha, Warren Buffett
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What I Learned About Russell Anderson
If you have not listened to episode 4 of the NaRagstoRiches Show, I encourage you to listen to it. You can do that by clicking here ~~~>NarRagstoRiches Show Episode 4: Russell Anderson, Businessman of God<~~~ You will enjoy listening to the show and I would love to have you listen each week as I inspire you to write your own rags to riches story, do work you love and make more money.
In doing the research for episode 4 on Russell Anderson, I learned quite a bit from the life of the person. I didn’t know him personally, but what has been recorded about his life has impressed me. Not necessarily how much money he earned, but what he did with the money.
He was not a perfect person (none of us are) as those who knew him personally can tell you some stories that we will not cover on the NaRagstoRiches Show or this blog. I choose to know the positive things about an individual and what good an individual has done.
Let’s take a look at some facts about Russell Anderson.
The Childhood Years
- Russell Anderson was born in 1931 and raised in Hunter, KY.
- They were much poorer than what we consider is “poor” today.
- 7 of them were raised in a one bedroom house with no running water and no electricity.
- Two times his family suffered house fires where they lost everything
- Russell Anderson started working in the cornfields at $0.50 a day
- When he was 9 years old, he wheeled sawdust for the sawmills.
- At age 11, he plowed fields with a mule for $2 a day. He sold green beans and corn for $2 a sack.
- His family moved when he was in high school to McDowell, KY where his dad became a superintendent in the coal mines.
- Still in high school, Russell Anderson hauled supplies on a mule for the coal mines for $2 a day. He trapped muskrats and minks and would sell the hide to Sears and Montgomery Wards for $1.50 to $4.00 a hide.
- His family didn’t have a car until his sophomore year in high school.
- After he graduated from high school, he went to work full-time in the coal mines for 6 years, was the top coal loader and earned $31 a day. He was very competitive and worked really hard.
The Turning Point In His Life
- In 1955, some of Russell Anderson’s friends were going to Michigan to do some construction work there and he went with them.
- He was 24 years old when he left Kentucky because the coal mining industry was very inconsistent. I’m been in an industry that’s very volatile like that, the mortgage industry.
How He Made His Money
- He gets to Michigan and learns the drywall trade. Two years later, he starts a drywall subcontracting business and began to see success. Eventually, he realized that he was paying out over $50k in building supplies in his business each month. So, he started a building supply business to save on the cost of the markups he was paying.
- He didn’t stop at just saving money though, he made it a real business providing supplies to other construction-type companies.
- Then, he started a trucking business probably for the same reason he started the building supply business, to save money on trucking costs in transporting the building supplies and also started providing trucking services to other building supply-type companies.
- Then he got into the real estate business and started building apartments with money from the banks. He did not use any of his own money. At one point he had 457 units. Thinking about that, if he only got $100 of cash flow on average each month from those units, do the math, that’s $45,700 a month just on the real estate.
What He Did with the Money
- Made about $100M and he says that he was able to make that because God gave him the brain to do it.
- What amazes me about Russell Anderson is not how much money he’s earned in his life, but what he’s made it his life goal to accomplish with the money and that is to reach people for Jesus Christ and make something of their lives for God.
- He has given about $40M to charity through churches and Christian colleges around the world and to full-time Christian employees to spread the gospel of Jesus Christ.
- I watched a video where he was speaking somewhere and the title of his message was “How I Made 8.6 Million Dollars in One Day” The thing is, he didn’t just earn that amount in that one particular day, but he gave away all of it to a church that day too.
- There was one year he gave over $11M ($30k per day) in 1999.
- He has helped to build over 150 churches in the United States and over 1300 churches in other countries.
- He co-founded Hyles-Anderson College in 1972.
- He’s helped build 8 Christian colleges all over the world in the United States, Mexico, Philippines and Haiti. He gave $1M to Commonwealth Baptist College in Lexington, KY.
- He’s had a part in over 21 million people coming to Jesus Christ as their Savior. 21 million people! 21 million people put their 100% dependence by faith on Jesus Christ one time to get them to Heaven. That’s absolutely amazing!
- I don’t know of any other businessman that has had this type of impact, that’s why Russell Anderson is the Millionaire Businessman of God!
- His message is if God can do that with and uneducated coal miner from Kentucky, why can’t He do it with you? He says, God can do the same thing with you. Russell Anderson says, God has no pets!
He was a Giver First
- Russell Anderson started giving 10% of his income in 1959 when he became a Christian and has never missed giving first since then.
- By age 38 when he became a millionaire, his giving increased to 30% of his income and by 1970, he was giving 50% of everything he earned to God’s ministries around the world.