A MYSTERY sickness led one man down the path to becoming the UK’s youngest self-made billionaire – as he launched a £4.5BILLION tech firm from his bed.
Johnny Boufarhat, 29, crafted his empire during lockdown while he struggled with an auto-immune disease.
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He seized a gap in the market, that desperately needed filled, and created an online events platform called Hopin.
The app allows events and conferences to be streamed with ease, connecting users when they can’t physically be in the same room together.
Within a year, the entrepreneur had raked in an eye-watering £4.5billion and raised millions from investors.
And, he did it all from his bed while battling chronic illness.
He told The Sunday Times: “I got so sick I was unable to leave my bed. I was starting to get weird reactions, like rashes from the sun.
“My brain fog was so severe I couldn’t remember things. I felt like I had some sort of dementia. And I had lost trust with doctors.”
To connect with the outside world he started creating the code for a video conferencing app.
Johnny told the newspaper: “I tested it in a few communities and people loved it.”
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He also spoke of his first venture into the industry when he was just 13-years-old.
“First forum was a WWF forum when I was 13,” he told Viral We grow.
“I was a big fan of wrestling when I was a kid, so I created the forum. It was the first time enabling a community of any type.”
The businessman described himself as “very, very work-focused”.
” I just want to be as impactful as I can, in a positive way for the world. I’m boring, I don’t drink, I don’t do anything like that,” he added.
Johnny still owns 35 per cent of his business and according to The Sunday Times Rich List is one of the country’s wealthiest people with an estimated network of £1.7billion.
He is now third in the “young” rich list, which ranks the wealthiest young people in Britain who are under 30, with the Duke of Westminster and Lady Wellesley ahead of him.
Johnny has also now recovered from his autoimmune condition through making changes to his diet.
The billionaire moved to the UK when he was 18, to study mechanical engineering at The University of Manchester.
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His Lebanese father was a mechanical engineer, and his Syrian-born Armenian mother an accountant.
Johnny was born on June 1, 1994, in Australia after his parents moved from Lebanon to flee the Civil War.
Top tips for starting your own business
THERE’S a lot to consider if you’re thinking about starting your own business.
From coming up with the perfect money-making idea, to the legalities that come with getting set up, you’ll want to make sure you’ve covered your bases before taking the plunge.
Alan Thomas, UK CEO at Simply Business, shared his top tips for starting a business with The Sun.
Know your customer inside-out: Knowing your audience is crucial. Start by asking yourself if your idea could help make their life simpler, or fill a gap that competitors currently aren’t. Testing your product or service and iterating based on feedback is a great way to ensure you’re building what’s right for your customer. Doing this early, before investing too heavily, can help to validate your business idea and save a lot of money in the process.
Sort your legalities: Make sure you’re on the right side of any rules, regulations, and legalities. Registering your business with HMRC should be a priority and it will inform how much tax you need to
pay. You can do this online at gov.uk. You’ll also need to decide on the structure of your company (sole trader, limited company or a partnership). Legally you may also require business insurance, such as public or employers’ liability insurance. A public liability policy protects against damage to third party property or individuals, whereas employers’ liability is a necessity if you have staff.
Create the perfect marketing plan: This is where websites and social media come into play. Consider what platforms work for your business and go from there. You don’t need a presence on all of them. Also, don’t ignore the power of flyers, local PR, and good old word of mouth.
Give yourself a period of transition and reflection: It’s easy to get caught up in the pace of starting up, but it’s important to dedicate time
for reflection and analysis. Look at what’s worked well and what could have gone better. Once you’re through month one, block out some time to look through your sales.
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