Millionaire praised for how he prepared kids to be successful

A millionaire has given some insight on how he's raising his four children to be successful.

Patrick Bet-David is an American author, entrepreneur and financial advisor, as well as a minority owner of world-famous baseball team New York Yankees - leaving him with an estimated net worth of around $200 million.

Born in Iran, the now-44-year-old relocated to the States with his parents at the age of 10 to flee the Iranian Revolution. But before became a professional businessman, Bet-David went straight into the military from high school.

He later set up his company, PHP Agency Inc., which - according to his website - is 'one of the fastest growing companies in the financial marketplace'.

Away from the business world, Bet-David is a dad-of-four, sharing his children Patrick, 11, Dylan, nine, Senna, six, and two-year-old Brooklyn with his wife of 14 years, Jennifer.

With his success in mind, millionaire Bet-David appears to be keen to encourage his own kids to also become prosperous and has shared his unique way of ensuring that they're educated well.

Chatting on The George Janko Show podcast, the 44-year-old explained how the family uses 'pages as currency'.

"In our house, the currency is pages," he said. "If the currency for you and I to go to a restaurant and to buy food is money, the currency in our house is pages."

"The more you read, the more you can ask. The less you read, the less you can ask," he added.

Bet-David used an example of one of his sons wanting to get a new LEGO toy, which he then translates into a certain amount of books the youngster needs to read beforehand.

"Each thing is based on the number of books you read," he said.

"I put all [the toys] at the top, like 15 feet up, and every day they would come and see it and go, 'How many books is that?' [I'd say] 20."

People have since applauded Bet-David's unique parenting technique and said they may try it out for themselves.

"I am taking a page out of your book and apply to my kids no pun intended," wrote one person on Instagram.

"My parents raised us that way too… I must confess they did a good job!" said another.

A third went on: "Thats's amazing. Thank you for sharing!" as another person hailed the idea as 'genius'.

Someone else branded it as 'legendary parenting'.

The question is, do the Paddington books count as educational?