Quote:
Originally Posted by CliffFletcher
I'm onboard with the notion that hard work and taking risks are keys to starting a successful business and making a lot of money. However, we're not just talking about someone building up a piddly $10-20 million. Once you get into the tens and hundreds of millions, you're making money because you already have a huge pile of it. Capital grows bigger the bigger the pile gets. Edward's second $100 million was a lot easier to earn than his first. Which is why the world's wealth in concentrating in fewer and fewer hands. Edward's kids will earn hundreds of millions in their lifetime, without ever needing to work, simply by starting with a billion.
It is pretty interesting how people who work for a living and earn $150K convince themselves that they share the same interests as those who earn millions a month simply from their capital.
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It's a lot easier to risk when you have nothing to lose. You are also a lot more motivated to succeed.
As to your assumption, how is that any different than people making 80k counting other people's money?
