Just today, Sunday 8th May, The Times published its annual Sunday Times Rich List for 2011 which was also reported generally across the British Media as “The Rich Getting Richer”. Fact is the rich have always tended to get richer just as as the poor tend to stay poor. In life, not only do the rich become richer, children of the successful and upwardly mobile in the society also do tend to become successful in life like their parents. 

It appears this reality is even becoming more entrenched globally. A report published by the British Broadcasting Corporation in April this year reveals that although only 7% of the British population attended fee-paying independent (private) schools, today they account for 24% of Vice Chancellors, 32% of MPs, 51% of the top doctors, 54% of the top journalists, 54% of FTSE 100 CEOs, 68% of the top barristers and 70% of all High court judges in Great Britain. But just as with any other form of success or failure, there are reasons why this is so.

1. The rich get richer and the children of the successful tend to become successful because they work at it. They make it their priority and they consciously do all they can to ensure it becomes their reality.

2. Wealth confers certain benefits on the rich which they leverage on to their and their children’s advantage. Wealth attracts for the rich a rich network of friends and contacts which they constantly utilize to create, attract and optimize opportunities for themselves and their children.

3. Because the rich have ‘experienced’ or ‘handled’ wealth, they are better positioned to ‘replicate‘ it. Wealth is more of an ‘abstract’ than a ‘reality’ to the poor. It is by far easier to propagate an experience one has than one one does not.  The rich are better qualified to teach habits, skills and values required to create and manage wealth.

4. The rich invest time, efforts and resources in equipping their children with what it takes to attract opportunities and create value- excellent skills and qualifications, networking opportunities, valuable exposures and other deliverables that the top employers are looking for.

5. They make it easier for their children to succeed- by helping them avoid, overcome or minimize obstacles to success. In other words, they help them get to the top more quickly.  

6. The rich and successful in the society and their their children operate in a success-consciousness. Because they have a first-hand experience of wealth and success and move in social circles dominated by the rich and successful, the desire, confidence and possibility of becoming successful comes naturally to their children. They consider it a normal thing to become successful like their parents the people they move with. They have lots of role-models, mentors and exemplars to look up to.

To be continued…..

Written by : Ayo Adebamowo


About the Facilitator – Ayo Adebamowo Ayo Adebamowo is an Author, Speaker and Tech Entrepreneur. He is the founder of MyMedicalBank, a health technology company promoting digital access to healthcare through creating innovative digital solutions.

A Nigerian-British national, Ayo has been named as one of the 70 Most Outstanding Healthcare Professionals in the United Kingdom.

Having started and run various businesses himself in healthcare, technology, agriculture and publishing, Ayo very much understands from a practical point of view the pains, struggles and mistakes aspiring and established business owners often make that delay their success. He therefore brings his wealth of experience coupled with years of experience and research to help other entrepreneurs succeed in their journey.

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