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Reply to "How did the rich people you know get rich?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]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. [/quote] Most startups fail, so this is less typical. Especially if not founder/executive. Maybe director is very high level?[/quote] There are stock options for many many companies that are established and beyond the "Start up phase". You simply get less options than if you enter as a startup, and often need to be at a higher level to get more. Many people in tech are rich from stock options; that has been happened for 30+ years. At a private company the entire executive team would have really good options and the next few levels would have decent (say to make $200-500K when company goes public, perhaps more). Whenever the company goes public, they make big $$$$. [/quote]
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