I just found this out about Michael Bloomberg: He is a "self made billionare"

[Stuart G]

30. ...Ok here is an example of "self made"...Let's say you start a business..

any kind that you feel good with. The bank loans you $50,000 to get started. You have saved from your hard work, an additional $50,000. The business is very successful, and you expand the business. So now you have a five locations of your business. Very successful. Cash flow is outstanding. Very good employees where are treated very well with much better than average salaries for the business you are in.
...More expansion and more locations. Now you have 20 locations, with each worth $500,000 each. So, now the business is worth, $10,000,000. And so on.
...If this is a relatively new business, and a new industry, and there is huge pent -up demand for the product or service, then this particular business, could be ..."the one" that does it...and makes that much money...Oh, you say that can't happen?....Well well and well...

...Where I grew up there was a drive in place that opened up a business about 1/2 mile away from where I lived..This was the mid 50s or later, like 57 or 58. I had never heard of that business, but that business sold hamburgers, and they were cheap. 15 cents per burger...Now, this was fairly new deal in Chicago, driving in and getting your burgers. I think there were 10-to 15 of these places around, and the original one was in a near western suburb.
(The McDonald's #1 Store Museum was housed in a replica of the former McDonald's restaurant in Des Plaines, Illinois, opened by Ray Kroc in April 1955)
...Well they expanded and expanded and expanded some more. Perhaps you have heard of this company. It is now known as McDonalds Hamburgers.. Yes, that is all true. YOu can look it up if you want.

At this link below is a picture of the original franchise Mc Donalds that is mentioned above. :

https://en.wikipedia.org/wiki/McDonald%27s_No._1_Store_Museum