The way to become rich in America is as a highly paid executive of a successful company, or as an employee of a company that awards stock options that become valuable. Ten percent of the self-made millionaires in America are men or women who have joined large corporations, or companies that became large, and worked for these companies for many years. They usually worked hard, were promoted and paid increasingly well, earned stock options, bonuses and profit sharing, and as a result of holding onto that money, became millionaires and multi-millionaires.
Paul Allen started Microsoft with Bill Gates, sold out when he became ill, took much of his share of the company in stock, and is now a multi-billionaire. The Seattle area is famous for having so many —Microsoft millionaires,“ people who went to work for Microsoft in the 1970‘s and 1980‘s, sometimes as secretaries and programmers, received stock options, and became wealthy when they exercised them. Many senior executives receive bonuses and profit-sharing worth many millions in a single year. Working for a large company that grows, pays well and shares its profits is a major source of wealth in America.
Many executives have stayed with those corporations for many years, have risen to positions of seniority, are paid extremely well, are given stock options, profit sharing and bonuses, and as a result of holding on to the money, they became millionaires. Not so long enough, Lee Iacocca, the chairman of Chrysler Corporation, was paid 26.7 million dollars for one year. Michael Eisner of Disney earned a $150 million dollar bonus. It’s not too hard to become a self-made millionaire if you’re making that kind of money in a year.
Tags: business, rich, success, way of success