>The investment banker said £100m was a lot of money – but “not a ridiculous amount of money”. He told the researcher he was “fairly confident” that a driven and passionate individual could “start from zero and get to £100m within 20 years”.
Does Jow Forums agree with this statement?
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maybe the dumbest thing i have ever read
He forgot "lucky", but otherwise yes.
"could" ?
Yes, they could.
Source?
Just an article I was reading
theguardian.com
With the appropriate path layed out before them, probably, although a big part of that is how you start. I mean the initial phase of drumming up capital from nothing is pretty simple, since it’s just “get a job” or “make something”. Then you have to invest your savings in to things that are easily investable, and then you invest in things that are more difficult.
Thing is each of those steps involves a different skill set, and I feel like it forgets that just keeping yourself alive costs money.
Past that though, if you can pull a 60% gain year over year in a tax advantaged vehicle, sure, it’s doable.
20 years is too long. If I can't get there in a year or less, then it isn't even worth trying.
Define "zero"
Does "zero" mean "living in a council house with no post-secondary education" or does "zero" mean "just graduated from Oxbridge with daddy's connections"
The way crypto is going you should do it in 2-5.
Let's assume the first, just out of interest. Take a completely average person with post-secondary education and no outside support. If they have the drive to work 16-18 highly motivated hours per day, and their goal is to increase their networth to £100m within 20 years, is there a good chance they'll make it?
ez, if a certain token goes to $1000 EoY
>with post-secondary education
Meant to say secondary education. Any education after that comes out of their 20 years.
only a sheltered prep school faggot would believe that. Your odds of working your way up from 0 to a hundred mil are far less than winning the lotto.
Maybe if you had the right cell mates with the right connections, you could rob and extort investment bankers for millions. But not 100's of millions.
You have no hustle, stay poor and miserable
not hard for an (((investment banker)))
who cares about being rich after ~35? the point is to be young and rich, not work 16 hours a day until you're 40 and have nothing to do with your money because you're already dead at that point.
hes not wrong . if i pursued every idea i had i would be a billionaire by now. i had uber idea when smartphones apps first came out but i was told it was illegal taxi ride. i have so many ideas that i dont go after because of lack of funding and because i just dont have a proper execution.
You have 40-50 years ahead of you at that point. You're at your mental and physical peak right now, make the most of it and enjoy your wealth after you become a useless old man.
Depends on a lot of things. I had a dormmate in college who came from a rich private school background. He was the only person I have even known personally who had no ethics.
He was a total arsehole to cab drivers and when I called him out on it he said "What? It's a shit job". His worldview was that the only thing that mattered was making as much money as possible. Didn't matter who you fucked over, wasn't even a question. Exploit people, rip them off, sell gym memberships to old ladies. All of it was fine. When he finished college he was constantly spamming facebook offering SEO and other shit.
Now he posts pictures in polo shirts on boats. He will make a lot of money, I'm sure. But there is no way in fucking hell I would do 90% of the things that he has done to get to where he is.
Going from $0 to $10 million for someone like that doesn't involve working hard or anything, it could just involve scamming people, smooth talking people into giving you business loans, or anything else. And from there you just have to go 10x to get to $100 mil. So yeah, it's possible, but a lot easier if you have no scruples at all.
Guardian is a socialist newspaper - this is LARP. I’m an investment banker - the only way to make that kind of money is be CEO of a bulge bracket for like 15 years or make your own firm and do really, really well (like 0.0001% of ppl that do banking). I’m 100% sure that quote is completely made up
>is there a good chance they'll make it?
just think about it for 10 seconds
the statistics on this are widely available but irrelevant because it's common sense that whether or not it's determined that economic mobility has increased a lot or not the chance of someone doing what you described is still one in a million.
>who cares about being rich after ~35?
>the point is to be young and rich
yes because the point of life is getting laid, partying, and nice cars
all that shit is temporary and the only thing that really matters is having a wife and kids, and leaving a legacy behind
Look at people like Mayer Rothschild and John D Rockefeller, who came from nothing, secured generational wealth, and whose descendants are some of the most powerful people on earth.
I know im in the minority here, but that is far more appealing to me than acquiring money just to live a douchebag Dan Bilzerian lifestyle
Honestly 100 million is a different ballpark compared to 5-10 million. I think that any driven and passionate individual could get to at least 5 million. The problem is that after that point the industry you're in is going to determine your limit. An accountant, a lawyer, a doctor, and many other well paid people will find it extremely difficult to grow their career after a certain point. Even if they own their own practice. Getting to $100m from scratch means you are most likely in: finance, real-estate, healthcare, or tech.
It just gets to be a point where a certain career isn't scale-able enough to move into the higher levels of wealth, but the person is also fairly old and comfortable, and his job doesn't apply well enough to move into a higher paying industry. An opportunity to move from upper-class to the top-class is something hard to come by. You need to be ready to strike the second you see the chance. This is how a lot of lawyers can go from comfortable law partners to CEO of a fortune 500 company.
Where is your 100 mil faggot?
How about you bet me right now that you will never be worth 100 mill in your life?
You wanna do it?
considering trump went from only 1mm to billions in about 30 years, it seems plausible.
>start from zero
how do you turn zero into anything though?
>who cares about being rich after ~35?
lmao, people who are over 35.. No shit its better to be young and rich, but its better to be old and rich than old and poor.
90% of all wealth disappears after 3 generations. It is incredibly difficult to establish generational wealth. You need to do more than just be rich.
TIL mid-30s isn't peak years. Unironically kys
fucking delusional bourgeoisie
addition
Its possible
This, the amount of people who think that anyone who works for an investment bank just simply sit behind a desk lighting cigars with £50 quid notes with their multibillion bonuses is astounding.
I blame the movies, news and the general culture of resentment in the UK that stifles success.
This guy gets it, values > money every single fucking time.
If you're not retarded and willing to chase demand instead of dreams you've got a shot, not exactly likely though.
>a driven and passionate individual
that's way rarer than 100m lbs
This shit made me angry desu bros
While the Guardian has its faults, its not a LARP. Read the article next time
Its not even hard to believe anyway so I don't understand the confusion
Yeah if you find the loophole. Im on the way there for $0 theres no way i can fail
I hate how doing well is looked down upon in this shithole. Fucking starts at school and continues. FUCK brits I hate us all.
You have no idea how British society works. You can have the best resume, but if you don't have the right daddy you'll be making at most 200k.