Are the rich destined to be rich?

[Starmix]

A significant portion of wealth is passed down from one generation to the next. Inherited wealth provides a substantial head start in terms of capital, assets, and opportunities that are not available to everyone. Wealthy families often have strong social networks and connections that provide access to exclusive opportunities. These networks can open doors to better education, job opportunities, and investment deals.

Wealthy families can afford better education and resources for their children. This can lead to higher earning potential and greater opportunities for success. Children from wealthy families are often exposed to financial concepts and investment strategies from a young age. This early education can give them a significant advantage in managing and growing wealth. Wealthy individuals often benefit from systemic advantages and privileges.

Lastly, while inherited wealth, social networks, and systemic advantages can certainly increase the likelihood of someone becoming rich, it is not necessarily a predetermined destiny. Social mobility, entrepreneurship, education, financial discipline, and even luck can all play a role in determining who becomes wealthy.

 

[eLdavis]

At the end of the day, the rich work hard and make use of every opportunity they have to achieve their wealth.

 

[Springtime]

A few billionaires, including Li Ka Shing, does not come from a rich family. He is a smart entrepreneur and sees opportunities before others do, that's why he is so successful.

 

[Starmix]

There are also business magnates in my country like Henry Sy (RIP), owner of SM Philippines with branches all over the country was once a very poor guy. He didn't have slippers to wear so he started selling some pairs of slippers and after some years he was able to build a business empire in the Philippines. He became a billionaire at age 34.

 

[neku]

I have noticed that the rich and powerful communities here are extremely aggressive in looting professionals and investors from poorer communities, often making fake allegations without proof to destroy the reputation of the investor.

 

[Starmix]

I firmly agree that the rich are destined to be rich. Their forefathers were the ones shaping their destiny making their financial goals be carried up to the next generations. It's a chain reaction.