> It's actually pretty easy to lose money.

By what mechanism / who exactly? Or referring explicitly to the ultra wealthy? When I think of the normal wealthy, the 1-20 million camp, can't they just stuff all of their money into index funds for the last 20 years and everyone grows 10%+ a year (most years)? That's what the few multi millionaires I personally know have done -> step 1 put money in e.g. Vanguard, step 2 maintain job and spend based on income, not accumulated wealth, step 3 do nothing as wealth builds itself. Once they get past 2 million, I think they are making 80-200k per year at capital gains rates and maybe don't even need to put more in, just ignore it. I don't personally have that situation though so maybe I'm glossing over details or have it wrong.