(9) Wally Blume, Denali Flavors
Many people don’t go into business for themselves until later in life because they don’t have the financial means to do so. After years of successful work in the grocery industry, Blume founded Denali Flavors in 1992 with two other partners. His experience in grocery and dairy made his company an almost instant success. To buy the business for himself, he took a big risk, putting his car, home, and other things up as collateral. But ultimately, it was worth it. Blume’s company frequently posts more than $100 million in sales per year, and is a regional staple. Blume’s advice for entrepreneurs is to make sure that they know their business inside and out.
This list contains people from all walks of life who have found financial success after their 40s. A common theme on this list is people giving up their successful corporate careers or built upon their passion, turning something that they loved into a thriving business.