People that think about billionaires often think that they are the sole masters of their companies. This actually isn’t true to what actually happens. When a company gets too big, it needs to be able to fund itself through other means. Holding companies and conglomerates often acquire such companies because of the fact that they have the resources and manpower to manage the logistics and other aspects of the company, and the founder of the company becomes a shareholder who is not really required to do all that much.
If you take Jimmy John Liautaud Founder of Jimmy John’s, you would notice that he doesn’t really have a job anymore. That is to say, he doesn’t have a job that he absolutely has to do, rather he has handed over the day to day running of the company to a private equity firm named Roark Capital. The founder of the chain owns 1/3rd of the company, with the rest split between the equity firm and other shareholders. His stake in the company is worth about 1.7 billion dollars, making him about as wealthy as anyone can end up being in such situations!
In doing so the founder helped make it possible for the company to become bigger than just his vision. Now this company is going to last a very long time indeed, something that just isn’t possible if you maintain full control of an enterprise. At some point or another, the reigns need to be handed off to someone else. The founder of this sandwich chain can now do whatever he wants, and he has the wealth to fund whatever lifestyle he chooses to live which is a pretty enormous benefit.