Myth of rags-to-riches: Devina Mehra says Bezos, Gates and Musk didn't start from scratch

First Global founder and CMD Devina Mehra has questioned the prevailing narrative of "rags to riches" success stories, arguing that many of the world's most famous billionaires started their journeys with considerable privilege.

"Even in the land that is supposed to exemplify 'rags to riches', Jeff Bezos, Mark Zuckerberg, Elon Musk, Bill Gates, Michael Dell all came from privileged backgrounds," Mehra wrote on Monday.

She challenged the "merit" argument that often accompanies such stories. "The 'merit' argument always tries to downplay privilege because the one making it usually has it!"

Explaining how privilege operates, Mehra listed several foundational advantages that many founders benefit from, including elite education and family support. "Gates' school was one of a handful with a computer," she wrote, pointing out how early access to technology was not universal.

She noted that family backing often goes beyond moral support. "Parent's investment in business (Bezos, Dell, Zucker)...easy to call it 'loan' now," she wrote, adding that these early boosts are frequently underplayed.

Connections also played a pivotal role. "Gates got his first big break via his mother's IBM connections; almost all VC funding is via network," Mehra said, highlighting how introductions often drive access to opportunity.

Another aspect of privilege is financial safety, she said. "Cushion to fall back upon — meaning you can take risks because you can afford not to earn for a while/ you have reasonable family wealth that you won't be out on the streets if the venture fails."

While she acknowledged that "many have privilege...not all of those build big businesses in competitive fields," Mehra was clear that such a foundation gives entrepreneurs a major head start. "But it is doubtlessly a starting advantage, including in fund-raising."

On venture capital in particular, she noted that access in the US is closely tied to personal networks. "You'd be surprised to know that in VC circles in the US it is virtually impossible to get even a hearing without 'knowing' someone. You get a proper hearing only if you come via the network."

Mehra concluded by underlining the hidden privilege behind many celebrated success journeys. "Many 'rags to riches' stories also have a privilege angle."