USA HISTORY

Detailed explanation-1: -Private equity and hedge funds sit adjacent to securities and trading markets. While they aren’t the same thing, these two types of investment tools are popular among billionaires. They appeal to people of high net worth who can afford large investments and higher risk.

Detailed explanation-2: -Have multiple streams of income. Many self-made millionaires have money coming in from several places, including their salaries, dividends from investments, income from rental properties, and investments they have made in other business enterprises, to name a few examples.

Detailed explanation-3: -Over the last couple of years, the wealthiest 1% of people worldwide have accumulated close to two-thirds of all new wealth created, the nonprofit Oxfam found. According to a new report, $42 trillion in new wealth has been created since 2020.