Yes, but the point is that they started with wealth. Multiplying 1 mil to 1 billion is more reasonable possible than 1k to 1 mil.
Simply because if you've such wealth already you're most likely in a position to take risks, etc.
Simply because if you've such wealth already you're most likely in a position to take risks, etc.
A billion is actually just a lot of money, there's a much more finite amount of room at the top.
All you need to do to make a million quid in the UK is get a 75th percentile job and save half of it. After a few decades you are now a millionaire. I mean, everyone can't do it, but it's not some unfathomable task.
In the US I imagine it's even easier. Your median income is lower but the top end is insane.
I agree that it is possible, but it is sadly an impossible task for most. That's my point above: for those who have wealth it is easy to grow it. It takes money to make money.
My other point was that those who have a billion started with millions.