Who knows? Perhaps he buys stuff using OTM for a fund, while his friends and relatives may be shorting the same stuff simultaneously, and may be that makes him a billionaire, no? Who knows what's the real-story behind these big boys anymore. Its all muddled-up. But one thing is for sure... their souls arrived on this planet with a lot of good-karma from previous lives ... because there are zillions of folks, who are smarter than him and work far harder than him, but are 1000s of times poorer than him. There is no point in trying to understand the logic behind any one's success in this random world ... there are simply no hard-and-fast rules ... all flukes and probabilities friends!