Where the Billionaires Come From – The New York Times

The NY Times writes about where Billionaires come from. Their article begins as follows:

In the early 20th century, a young journalist named Napoleon Hill embarked on the assignment of a lifetime.

Mr. Hill set out to study hundreds of the nation’s most successful people and write a book about how they became so accomplished.

Mr. Hill spent two decades analyzing the life stories, strategies and personal philosophies of entrepreneurs and industrialists like Henry Ford, William Wrigley and John D. Rockefeller.

The resulting book, “Think and Grow Rich,” was published in 1937 and became a self-help guide for everyday Americans seeking great wealth.

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Mr. Hill tried to convince his readers — many of them emotionally and financially battered by the Great Depression — that with the right attitude they, too, could amass a fortune.

“One must realize that all who have accumulated great fortunes first did a certain amount of dreaming, hoping, wishing, desiring and planning before they acquired money,” Mr. Hill wrote.

Eighty years later, Mr. Hill’s egalitarian notions seem to ring hollow on many levels. There is a troublingly wide gap between the economic fortunes of the rich and the poor — an inequality that has helped unleash political populism in Europe and the United States. (Ironically, President Trump, a self-proclaimed billionaire, rode that resentment to the White House.)

Source: Where the Billionaires Come From – The New York Times

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.