People like Gates, Musk, Buffet are only a side show. They are there because of support from Wall Street. They're new but at the same time indistinct from old money and working for the same goals.
Moreover, a "self-made billionaire" is just a drop on the global pool of wealth. It is even good for capitalism to have these new people as a showcase, so billions will believe they can be the next, when winning the lottery if far more likely.
OK so its not only about luck and existing capital.
>Moreover, a "self-made billionaire" is just a drop on the global pool of wealth.
We are not talking about the global pool of wealth - we are talking about capitalism which is decidedly smaller. You can take out Putin, Saudi Aramco, etc.
Moreover, a "self-made billionaire" is just a drop on the global pool of wealth. It is even good for capitalism to have these new people as a showcase, so billions will believe they can be the next, when winning the lottery if far more likely.