Who's your favorite, most admired, or best-known Business Mogul?

Bill Gates?

Warren Buffet?

Oprah Winfrey?

Donald Trump?

Martha Stewart?

Steve Jobs?

Or, going back in time a bit, how about John Rockefeller or Andrew Carnegie or Madam C.J. Walker?

All of these people already have their places in history sealed. They've all gained notoriety for their business success, and in some cases, their eccentric non-business activities.

So when I ask people who is their favorite business mogul, I'm not surprised when one of these names pops up.

Gone But Not Forgotten

But there's another Mega Tycoon that trumps them all (pun intended) when you combine daring, success and eccentricities.

His name is Howard Hughes.

I'm sure you've heard the name.

Hughes was worth over $2,000,000,000 when he died in the mid-70s.

You might even remember a little about him.

But here's what you're probably thinking:

"Isn't that the dude that started Hughes Aircraft, became rich, and went nuts!"

Well, uh yea ... I guess you'd be right on all points.

But, putting aside his late-life mental state, consider what this Business Mogul accomplished:

• Designed airplanes
• Flew airplanes as a test pilot ... and for leisure
• Started Hughes Aircraft
• Bought TWA airlines
• Bought several hotels and casinos
• Created the Hughes Medical Center
• Produced Hollywood movies
• Covertly hooked up with the CIA to recover a Russian submarine
• Became the richest man in the world

Also, because of his relationship with President Richard Nixon, Howard Hughes was allegedly connected with the Watergate Scandal.

And, perhaps his greatest personal feat, he reportedly had "very personal relationships" with the likes of Ava Gardner, Katherine Hepburn, Bette Davis and Olivia de Havlliand!

Ok. Perhaps these names mean nothing to you. So let's get some perspective.

It would be the equivalent of Bill Gates dating Halle Berry, Madonna, Beyonce Knowles, and Charlize Theron.

Now do you understand!

Unfortunately, on the down side, Howard Hughes left a mess by not having an estate plan. And it took years to finally straighten out!

Lessons ... Lesson ... Lessons

So the question is,

What can an entrepreneur take away from this man's successes and failures?

We can't, and shouldn't try to, become clones of any business mogul .. no matter how successful.

But we can certainly learn from them.

So here are the lessons I think Howard Hughes offers to us:

• Be adventurous and a bit daring in your business pursuits (note that I said daring and not stupid!)
• Be a creator and leader .. not simply a duplicator and follower (of course unless that gets you to mogul status!)
• Don't be boxed into one career ... Realize that your talents can apply to many things that make money
• Pursue your passions ... as long as they're legal, ethical and not life-threatening
• Take your mental health medications

Oh, and one more thing:

Get a damned estate plan in order as soon as you get Mogul Status!

Listen to my interviews with Emerging Growth Entrepreneurs and Financiers that, hopefully, have their estate plans in order!