Billionaire's Superpowers: Paranoia, Workaholism, and Micromanaging—'That's Worked for Me'

Peter Beck often struggles to sleep due to restlessness, which he considers one of his superpowers.

"Beck, the founder and CEO of Rocket Lab, states that he cannot fathom returning home and sleeping peacefully every night, as it seems an unattainable reality."

Beck describes himself as a "chronic workaholic, micromanager, and paranoid about failure," which he attributes to his success at launching Rocket Lab in 2006 in New Zealand with no college degree and no connections in the private space industry.

Forbes estimated Beck's net worth to be $1.3 billion in November, while the company had a market value of $11.2 billion as of Monday morning.

Launching rockets into space is a challenging, uncertain, and potentially hazardous enterprise that necessitates extensive preparation and meticulous calculations prior to execution.

Beck's sleepless nights are not ideal for his health, but they are beneficial for his professional work as they force him to consider all possible outcomes before they occur. "It's either right or it's international news," Beck says. "So you'd best be checking that thing three or four times."

The benefits of 'very healthy paranoia'

"Entrepreneurs are always in a healthy state of paranoia," said Alexa von Tobel, founder of financial planning company LearnVest, in an interview with CNBC Make It last year.

Elon Musk, a private space industry counterpart of Beck, has a complicated relationship with rest. He described himself as "fairly nocturnal" in 2022.

Though Musk has worked tirelessly to meet deadlines at SpaceX and Tesla, he expects similar levels of commitment from his higher-ups. However, he admitted last year that he was trying to prioritize sleep.

While micromanaging excessively can create toxic workplaces, leaders who trust their workers and delegate tasks can increase efficiency and signal trust in their employees. Beck, for example, trusts his workers but takes a hands-on approach when even a small mistake can result in catastrophes on the launchpad.

"As a CEO, you must be down in the weeds to handle seemingly small technology or business decisions that can have massive impact."

Richard Branson, a billionaire entrepreneur, attributes his success, in part, to delegation and advises other leaders to surround themselves with people who are smarter than them.

Some bosses "roll their sleeves up and get right down into the details," says Beck, and that has worked for him.

To earn extra money online, sign up for CNBC's course on passive income streams, starting tips, and real-life success stories.

Sign up for CNBC Make It's newsletter to receive expert advice on work, money, and life.