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>> much of wealth gain is lucky opportunity windows He sold gum, he sold Coke bottles, he sold magazines, he worked in a grocery store, he delivered newspapers
by rufus_foreman 4y ago
>> much of wealth gain is lucky opportunity windows
He sold gum, he sold Coke bottles, he sold magazines, he worked in a grocery store, he delivered newspapers, he sold golf balls, he sold stamps, he detailed cars, he invested in stock, he invested in land, he went to business school, he worked as an investment salesman, he worked as a stock analyst, he worked as a general partner, then chairman, then CEO at a company.
The lucky opportunity was 82 years to compound returns.
The question is why he wouldn't quit at 50 with a few hundred million and live off of the money instead of spending the next 42 years making more money which he will then give away to someone else to decide what to do with after he dies.
- schwartzworld 4y agoThe only feasible answer is that billionaires are insane hoarders, walling off society's resources for literally no reason.
- sam-s 4y agoThey are not hoarding anything people need (like food or clothing). They are not even hoarding anything people don't need (like gold or diamonds). The "money" (they don't hoard cash either) they accumulate is _investment_ which translates into _power_ to change the world. See https://en.wikipedia.org/wiki/Power:_A_New_Social_Analysis https://en.wikipedia.org/wiki/Power:_A_New_Social_Analysis