I believe that regardless of one’s education, race, or familial financial status, anyone can become wealthy. We have all heard arguments to the contrary; however, the truth is simple. Wealth is created by a combination of hard work, determination, and implementation of great ideas. This is in spite of race, level of institutional education, or even one’s parent’s success.
I come from an American middle-class family. My father earned enough money to take care of our needs and occasionally provide niceties. The argument that I am held back by my parents’ success would seem more concrete, if I were to tell you that I, too, am the head of another middle-class family; however, I have been able to accelerate my earnings to flirt with the lower realm of an upper-class family. With an income over $100,000, I have bypassed over the invisible economic line of the top third of incomes in America. U.S. News in 2012 published an article by David Francis called, “Where Do You Fall in the American Economic Class System?” wherein Frances states that by earning above $100,000 a year, one enters in the top one-third of American incomes. I am not restricted by a proverbial glass ceiling, based on the success of my father. What about race?
I am a Caucasian who sometimes, in jest, self-identifies as a black man. Is that why I’ve been successful? I don’t believe so. Here are some examples where people from other races have succeeded financially in large way.
Carlos Slim is Hispanic and ranks as the 4th richest man in the world according to Forbes’ 2016 “World’s Top Billionaires” list.
Amancio Ortega is a Spaniard who, on the same list, ranked 2nd in the world in wealth.
According to “The Richest,” an online entertainment magazine, Alhaji Dangote is the wealthiest black man in the world with a net worth of $16.1B. Regardless of race, each of these men has skyrocketed to be among the wealthiest in the world. It must be because they have degrees from higher institutes of learning, right?
If you believe that extreme wealth is directly related to receiving a formal education from a university or even high school, you would be wrong. Amancio Ortega, according to Fortune Magazine, stopped going to school when he was 13 (http://fortune.com/2013/01/08/meet-amancio-oretga-the-third-richest-man-in-the-world/). Instead, he got a job. That’s likely the most dramatic example of institutional education to wealth ratio. Institutional learning does not guarantee income.
In reality, wealth is created by following solid principles of economics. I believe that if you take control of your finances, meaning utilizing wise money-managing principles, you can become wealthy as well. Just as I’ve shared examples of these wealthy men of varying races and educational backgrounds, there are also many more examples of “white” people who grew up in wealthy/semi-wealthy environments, earned degrees of matriculation, and are now destitute. I believe we can all become wealthy. We merely need to have the gumption and tenacity to earn.
I just want to thank 