The New York Times: What Is Wealth? Kyle Webb, Los Angeles
For Kyle Webb, 32, wealth is about opportunity and access. His financial and business success came from two places: One was luck and the other was being born to entrepreneurially minded parents.
Mr. Webb is the chief financial officer of his family’s business, Webb Family Enterprises, which operates 16 McDonald’s franchises in Southern California.
He said that his parents set him up with his first McDonald’s franchise and that, along with a good education — a bachelor’s degree in business administration from Morehouse College and an M.B.A. from the University of Southern California — set him on his track. Webb says he is not quite what he would call wealthy yet, but he has a clear view of what that will be.
“Having the financial freedom to contribute to the things that you want to contribute,” Mr. Webb said. “That’s measured by earning twice the income that is required to sustain your cost of living via passive income.”
He said that wealth “provides access to more,” and that it should extend for “future generations to be able to have, again, more access and more opportunities and to be able to extend it to other people whether they are in your familial line or if there are opportunities for other people in your community that you feel warrant opportunity.”
Citing the McDonald’s tagline “America’s best first job,” Mr. Webb takes pride in the way his family’s business extends both access and opportunity to its employees. — Jarrett Hill