These days, few people even have boot straps to pull on. So where exactly do billioniares come from?
Eighty years ago, Napoleon Hill argued in his book “Think and Grow Rich” that discipline and hard work would make you rich. But today there just seems to be a missing ingredient in that recipe.
“The idea that the secret to great wealth comes from a combination of discipline, perseverance and belief in yourself sounds Pollyannaish in an era of widespread disillusionment with how the economy and society actually works,” writes the New York Times. And there’s a reason for that.
Your chances of becoming a billionaire are basically nil. Billionaires are just about 0.00003 percent of the world’s 7.3 billion people. Wealth-X looked at what factors unite those lucky people.
Billioniares go to Harvard — or Stanford if you must — and they major in engineering or business. But going doesn’t mean finishing, as about 30 percent of the world’s billionaires never obtain a college degree, according to the Times. They also say they like to read — but they would wouldn’t they? And finally, it really, really helps to be male.
So cynically speaking billionaires are largely guys born with the means or ability to go to and drop out of Harvard. They also occassionally pick up a self-help book.
“And yet for all the male-dominated, Ivy League exclusivity of the billionaire’s club, self-help gurus and ordinary people continue to pore over the biographies and public statements of the ultrawealthy, looking for the secret sauce,” notes the Times.
And now you know where billioniares come from.