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11 outrageous ideas that made people ridiculously rich

11 outrageous ideas that made people ridiculously rich

Lots of people have million-dollar ideas, but people rarely act on them. Mistakes, too, can sometimes even mean millions – if the timing is right.

For entrepreneurs, one good idea can prove extraordinarily fruitful – even if it’s as silly as something like the Snuggie. The Slinky, for example, was born after a naval engineer made a clumsy mistake; meanwhile, the infamous Furby was crafted after its creator was introduced to Tamagotchis, and felt an overwhelming urge to pet it.

Check out some other ideas that left people with millions.

Beanie Babies, created by Ty Warner in 1993, were the plush, bean-filled toy fad of the 90s. Warner’s Ty Inc. reportedly made $700 million in one year, selling the Beanies for $5 a piece. By 1999, the company had over $1 billion in sales.

Beanie Babies, created by Ty Warner in 1993, were the plush, bean-filled toy fad of the 90s. Warner's Ty Inc. reportedly made $700 million in one year, selling the Beanies for $5 a piece. By 1999, the company had over $1 billion in sales.

Warner made the decision to not sell the toys at nationwide chains like Toys-R-Us and Walmart, driving up the market at small, independent stores, creating a craze. Some stores even received instructions from Ty Inc. not to sell more than a certain amount to one customer. Beanies began going up on the resale market — many with five-figure asking prices.

Since its creation, it is estimated Beanie Babies were able to bring in nearly $6 billion for Warner.

Today, Warner has a net worth of over $2 billion.

Alex Tew had the idea for The Million Dollar Homepage when he was a 21-year-old college kid. He would sell 1 million pixels for $1 a piece in advertising space. The profit? You guessed it.

Alex Tew had the idea for The Million Dollar Homepage when he was a 21-year-old college kid. He would sell 1 million pixels for $1 a piece in advertising space. The profit? You guessed it.

Million Dollar Homepage “sold out” just 4 months after it went up in 2005. It all came about because Tew was interested in making money while also attending Nottingham University in England. And after the site began to gain media attention and all ad space was bought up, he dropped out and began his career as a serial entrepreneur.

He has since gone on to co-found the newly billion-dollar unicorn startup and meditation app, Calm.

 

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