Lululemon founder Chip Wilson describes what it’s really like to become a billionaire

Lululemon founder moves against 'old school' board members
Lululemon founder moves against 'old school' board members

Achieving billionaire status is something many entrepreneurs can only dream of, but one billionaire says life after joining the 10-digit club isn't really that different than before.

Lululemon Athletica founder Chip Wilson found out he had become a billionaire when bankers contacted him after Lululemon went public in 2007, he said in an interview at the Iconic Conference in Denver on Wednesday.

"It changed my life not a bit, because I would do exactly what I'm doing now for no money," he said, adding that money is not what drives or motivates him.

"An entrepreneur has to be able to work the 18, 19 hours a day not for the money but because there's an idea there and you want to see if … the world wants (that idea) too."

Still, Wilson doesn't think the billion-dollar mark is all that different from having just a fraction of that as a high net-worth person.

"There's not much difference between having probably $20 million and being a billionaire quite frankly," he said.

Last year, Wilson left the board of Lululemon, the company he founded in 1998. Two years ago his wife and son launched , a retailer that designs and develops technical apparel, lifestyle products and accessories for men and women, backed by the billionaire's vast fortune. Although Wilson no longer sits on Lululemon's board, he remains the company's largest shareholder and recently penned a letter to shareholders urging reform at the company.