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Zuckerberg,Bezos,Gates.Behind Every Self-Made Millionaire Is a Father with Money

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Re: Zuckerberg,Bezos,Gates.Behind Every Self-Made Millionaire Is a Father with Money

#11

Post by brigadier132 »

czechdeveloper wrote: post #7
mcpackieh wrote: post #5

> Behind Every Self-Made Millionaire Is a Father with Money Dumb headline, obviously wrong. It may be true for those billionaires but there are many millionaires for which this isn't true. I know single-digit millionaires who ran away from home as teenagers and never had anything to do with their parents again.

You know what is difference between a million and a billion? Approximately a billion.

So given that, these million dollar loans they received from family to start their businesses really don't amount to much. And Bezos only got $240k.

Re: Zuckerberg,Bezos,Gates.Behind Every Self-Made Millionaire Is a Father with Money

#12

Post by danjc »

brigadier132 wrote: post #3

How are people reading this? It's behind a paywall.

Paywalling a news site is understandable - I mean it's a business that needs to make money somehow.

But (mostly) personal blogs? It's insanity that accessing it requires either a medium account (so you can be tracked) or that you use the app (so you can be tracked).

Re: Zuckerberg,Bezos,Gates.Behind Every Self-Made Millionaire Is a Father with Money

#14

Post by KPGv2 »

brigadier132 wrote: post #11
czechdeveloper wrote: post #7

Earlier quoted context omitted.

You know what is difference between a million and a billion? Approximately a billion.

So given that, these million dollar loans they received from family to start their businesses really don't amount to much. And Bezos only got $240k.

Only 240K.

The big thing here isn't that they get loans. It's that they can keep taking risks, knowing they'll be OK if they fail.

I can't remember the exact quote, but essentially middle class people have one big shot they can afford to fail at. The children of the wealthy can keep taking them.

Re: Zuckerberg,Bezos,Gates.Behind Every Self-Made Millionaire Is a Father with Money

#15

Post by mcpackieh »

czechdeveloper wrote: post #7
mcpackieh wrote: post #5

> Behind Every Self-Made Millionaire Is a Father with Money Dumb headline, obviously wrong. It may be true for those billionaires but there are many millionaires for which this isn't true. I know single-digit millionaires who ran away from home as teenagers and never had anything to do with their parents again.

You know what is difference between a million and a billion? Approximately a billion.

Yes, there's a huge difference between a billion and a million. That's why the headline talking about billionaires as millionaires is dumb.

Re: Zuckerberg,Bezos,Gates.Behind Every Self-Made Millionaire Is a Father with Money

#16

Post by friend_and_foe »

Funny, the only mention of Elon Musk is in the description of the header photo... I wonder, why include him in the photo at all if you're not going to talk about him? Did he have rich parents?

So what I'm getting from the article is that these three men lived in middle class households in the 70s, 80s and 90s, a period in America with a strong middle class, and that by today's standards had well off parents, but by the standards at the time, maybe only a little better off than the average person? There's a big difference between withdrawing a quarter million dollars from the bank and taking out a home equity loan and risking your security to help your son's business venture.

Re: Zuckerberg,Bezos,Gates.Behind Every Self-Made Millionaire Is a Father with Money

#17

Post by nomilk »

friend_and_foe wrote: post #16

Funny, the only mention of Elon Musk is in the description of the header photo... I wonder, why include him in the photo at all if you're not going to talk about him? Did he have rich parents? So what I'm getting from the article is that these three men lived in middle class households in the 70s, 80s and 90s, a period in America with a strong middle class, and that by today's standards had well off parents, but by t…

> why include (Musk) in the photo if you're not going to talk about him?

Answer: www.wikipedia.org/wiki/Clickbait

Re: Zuckerberg,Bezos,Gates.Behind Every Self-Made Millionaire Is a Father with Money

#18

Post by whatscooking »

brigadier132 wrote: post #11
czechdeveloper wrote: post #7

Earlier quoted context omitted.

You know what is difference between a million and a billion? Approximately a billion.

So given that, these million dollar loans they received from family to start their businesses really don't amount to much. And Bezos only got $240k.

Smh, that’s like half a million in todays money for free from his parents…

Re: Zuckerberg,Bezos,Gates.Behind Every Self-Made Millionaire Is a Father with Money

#19

Post by whatscooking »

friend_and_foe wrote: post #16

Funny, the only mention of Elon Musk is in the description of the header photo... I wonder, why include him in the photo at all if you're not going to talk about him? Did he have rich parents? So what I'm getting from the article is that these three men lived in middle class households in the 70s, 80s and 90s, a period in America with a strong middle class, and that by today's standards had well off parents, but by t…

Everyone knows Elon Musk’s father owned a emerald mine in Zambia. The only person who denies it is Elon.

Re: Zuckerberg,Bezos,Gates.Behind Every Self-Made Millionaire Is a Father with Money

#20

Post by Thorrez »

KPGv2 wrote: post #14
brigadier132 wrote: post #11

Earlier quoted context omitted.

So given that, these million dollar loans they received from family to start their businesses really don't amount to much. And Bezos only got $240k.

Only 240K. The big thing here isn't that they get loans. It's that they can keep taking risks, knowing they'll be OK if they fail. I can't remember the exact quote, but essentially middle class people have one big shot they can afford to fail at. The children of the wealthy can keep taking them.

So basically, poor to billionaire is impossible in 1 generation, but poor to billionaire is possible in 2 generations.
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