James Dyson Was $1 Million in Debt, But He Pursued His 'Mad' Idea Anyway — Now He's a Billionaire: 'I Don't Mind Living on the Edge'
Sherin Shibu
created: Aug. 14, 2025, 5:04 p.m. | updated: Aug. 15, 2025, 12:52 p.m.
It took James Dyson five years of work and 5,127 failed prototypes to create the world's first bagless vacuum cleaner.
In 1978, James Dyson had an idea for a bagless vacuum cleaner that maintained suction.
But he also had "little to lose," he says, which is why he took a chance on his vacuum idea despite the financial pit.
"You shouldn't do everything in life just to get big numbers, big successes," Dyson said.
"Little successes are just as satisfying."
2 months, 3 weeks ago: Entrepreneur