How did the rich people you know get rich?

[Anonymous]

Hedge fund, private equity, tech start-ups, or started their own business.

[Anonymous]

Startup founders, but I work in that space.

[Anonymous]

Small business. Get people to work for you to make money for you...

[Anonymous]

S: started as UMC, went to an Ivy and joined big law. Spent last four years defending Trump associates. Dumped starter wife and married a younger heiress. He's rollin' in it.

[Anonymous]

Anonymous wrote:Almost all of the really rich people I know worked very hard and owned their own business. My wife worked hard and was a director for a privately held company. When offered the opportunity to buy stock in the company she always did. At times I thought she bought too much of their stock. When the company went public the stock became worth over $20MM. She always said it was worth buying. So I’ll add stock options to one way people get rich.

This is been my experience as well.

Getting from off of stock from company they worked at or either started their own business and became success.

The latter is far more common than the former though.

There can only be so many chief and VP executives. Also, moving up the company ladder is predicated on so many things.

[Anonymous]

I want to add how rich are we talking??

Because for people worth 30 million plus most got it from being business owners.

[Anonymous]

Anonymous wrote:I want to add how rich are we talking??

Because for people worth 30 million plus most got it from being business owners.

This is true all around the world.

[Anonymous]

Started a business ($30M+)
Multi family or commercial real estate development. $50M+
Inheritance (billions)
Investment banking (100M+)

[Anonymous]

Most people I know: inheritance

[Anonymous]

Anonymous wrote:Most people I know: inheritance

If that's the case for those you know, fine. However, the data indicate that only a very small percentage of rich people achieve that status through inheritance.

[Anonymous]

One guy we know started a cyber security business and sold it.

One guy we know started a software business and got bought out by a larger company.

Cryptocurrency

We may or may be considered rich. Dh is a specialized surgeon and earns $1-2m per year. He worked very hard in school and work.

[Anonymous]

Generational wealth preserved through college education and most importantly, savvy, broad reinvestment of original stock.

[Anonymous]

Mergers and acquisitions.

[Anonymous]

Brother: regional plumbing business. Has about 50 employees. Just turned 45 and started in the business at 18. Three other
sibs are white collar professionals who get by. Rumored to be worth 35 million.

[Anonymous]

Started IT business that they grew, then sold for 8 figures when retiring. Came from lower SES families.