WHY IS BILL GATES RICHER THAN I AM? WHY IS BILL GATES RICHER THAN I AM?

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There is no way to assess why you are as wealthy as you are (or un-wealthy) without knowing your story. Many people know the Bill Gates story. He had a special insight, a drive to succeed, and a will to work hard to achieve his vision. 

That doesn't exactly explain...

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There is no way to assess why you are as wealthy as you are (or un-wealthy) without knowing your story. Many people know the Bill Gates story. He had a special insight, a drive to succeed, and a will to work hard to achieve his vision. 

That doesn't exactly explain why he has more money than you. It just explains, to some extent, why Gates is as wealthy as he is. 

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Bill Gates took advantage of the right opportunity at the right time.  First of all, he had intelligence and inventive skills.  Second of all, he was able to recognize and act on an opportunity when it came his way.  The two are powerful skills when combined.

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Oh I don't know. It could be that Bill Gates got in on the ground floor of a business service that went global. It could be that after he made his initial fortune off of the new burgeoning service that he reinvested his money into new product development and improving the business plan. It could be that he hires people who are able to research business trends and consumer purchase trends to better develop the products his company makes. It could be that what goes around, comes around, and he, his wife, their foundation donates millions of dollars to charity a year. Or it could be that he sees something and goes out and makes it happen. Whatever the reason, he has made a huge financial success of his life.

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Bill Gates is one of the richest men in the world. So, he is not only richer than you, but practically everybody else. Part of the reason is that he is certainly a remarkable man with incredible drive. In addition, he was at the right place at the right time. There are some variables that are completely our of our control. For example, what if Bill Gates was born in a poor third world country with no access to computers? I highly doubt he would be rich. So, there is an element of luck or if you are religious, God plays a role. In any case, there are always to factors that make a person great. First, there is timing. Second, there is the ability of the person.

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Keep in mind that economics can not fully explain individual-level phenomena.  The discrepancy between the two of you may just be because of luck, or because you're lazy, or something that can't be accounted for in economics.

Economically speaking, though, the likely explanation is that he has skills that are rarer and/or in more demand than yours.  The laws of supply and demand say that prices are high for things that have either low supply and/or high demand.

Basically, not many people have the ability to invent a whole new technology (the supply of people with his ability is very low).  Also, it was a technology that a lot of people wanted (high demand).  So he got rich.

But give yourself time -- he wasn't rich at your age either.

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