There's a simple question I have trouble wrapping my head around.
Years ago, before I knew about finance, I thought the all-time top earners were heart surgeons, neurosurgeons, and top corporate lawyers. As I understood they each had the potential to make $500K - 750K a year, and that was the absolute top bar. Over the past few years, I learned about different areas of banking, consulting, and, and found out that MDs, top traders, and top consultants routinely make millions, and hedge fund managers can approach hundreds of millions. As far as I understand, top guys can make close to/over a billion - but I believe I read there were five such people last year.
I still can't wrap my mind around how people make billions. With the exception of top hedge fund managers, of which there are few enough that I can understand, I just don't know how people do it. If I work my ass off, study hard, get really lucky, I can see myself making a few million a year (best case scenario!) and maybe leave this world with a net worth of $100M (again, being extremely optimistic here!) But I have no idea how I'd go about making a billion.
Lloyd Blankfein's net worth is 550M. I'm sure he's got more stashed away, but how much more? And Lloyd runs one of the most prestigious companies ever.is worth $4.7B, but he's one in a million. One in a hundred million.
The question is simple, but I just can't wrap my mind around it: how do people make the jump from a million to a billion?