Quote:
Originally Posted by bizaro86
I was under the general impression she turned a few million dollars worth of iron ore leases she inherited into billions of dollars mainly by letting big companies develop them for a cut after iron ore prices went up. If you inherit something, and it goes up hugely in value, that's not the same as making your own money, imo.
That's just what I recall though, so I could be totally off base.
|
I'm not doubting her work ethic and it still took effort and skill to get where she is, but everyone knows that the more you start off with, the easier it is to rack it up. If you have 10 million in the bank, you can pretty much make 2-300k a year in some low-risk GIC account alone. Wow, who knew it was so easy!
I'd like to see her start of with 100 bucks to her name, no family connections, some school loans, and turn THAT into a Million. Lots of people do it, but it sure is a lot harder.
Unfortunately, I've found come to realize that a vast majority of really successful people and entrepreneurs came from already relatively wealthy families. It's a lot easier to take risks in business when you have something to fall back on. You can try new things and not worry about feeding your kids if you fail. It doesn't mean the rest of us shouldn't try, but the setup is definitely not equal.