Zuckerberg,Bezos,Gates.Behind Every Self-Made Billionaire Is a Father with Money
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It’s not something one works or outsmarts their way into.
Most people whether born to kings or peasants will not become self-made billionaires. We should focus our efforts on eliminating poverty and ensuring there’s a solid middle class/upper middle class instead of focusing on the 1 in a million people that’ll become ultra-rich.
Where the author failed is by not including Musk, too.
I especially lost interest when the author added a brief description of what Exxon is: "one of the world’s top oil companies." (When the readership doesn't know what Exxon is, you can imagine what else is in store.)
Then, there's this portion:
> One more illustration: Mark Zuckerberg. His parents’ fortunate social and economic status afforded him the opportunity to enroll at the prestigious Phillips Exeter Academy, one of the oldest educational institutions in the United States, favored by political and financial elites.
How come everyone who attended Phillips Exter Academy isn't a billionaire?
Let's look at Oracle's Larry Ellison, the fourth wealthiest person in the US. From Wikipedia:
> Ellison was born on August 17, 1944, in New York City to Florence Spellman, an unwed Jewish mother. His biological father was an Italian-American United States Army Air Corps pilot.
That doesn't sound like a wealthy upbringing to me. Maybe his dad had some connections, but it doesn't seem like they were better off than most. This is just one example from a cursory search.
Also, why should ROI be most interesting? Is money all we care about? Why is it that we have money?
You're talking about a "what if" as opposed to concrete numbers we do a simple comparison of.
> Is money all we care about?
No, but in the context of the article, it is the metric.
The point is to challenge the premise that their success was only a product of their starting investment.
(Yes, a wealthy family is an obvious advantage if one's goal is to become a "self-made" billionaire.)
More interesting: Why are so many people obsessed with the "Behind Every Self-Made..." thesis? Are they indulging childish fantasies? Nursing "I'd be a billionaire too, if only..." emotional problems? Renouncing any concern for the welfare of the 99.9%?
From some introspection, I've concluded that if I had 240k in the bank today, I would still think ten times before hiring a team of developers, rent an office, setup a company, and start spending money to make money.
I'm just diffident that way which makes me think entrepreneurs are just wired like that.
240k buys you lots of free time to pursue your passions, if one is truly passionate about something they'd aim to engage ASAP and while at peak of mental and physical fitness. In the end money cannot buy time.
Even if you turn 240k into 240m in 20 years time you cannot buy 20 years of tennis practice or kitesurf abilities or skiing/motorcycle abilities or whatever you are passionate about.
Not to mention all the p*y you are leaving on the table by secluding yourself into an office for 20 years.
someone handing you a wad of cash and telling you to "make your dreams come true" doesnt necessarily have to be your parent; that person also doesnt have to be named a "father" for having done the act
perhaps "behind every self-made billionaire is an investor with money" would be a more fitting (albeit redundant) hypothesis