Millionaire BS?

 I have heard from Amway IBOs that they believe that Amway has created more millionaires than any other company in the US. I call complete BS on that claim. I am not saying that Amway hasn't created any millionaires. Obviously, the Amway owners are worth billions of dollars. But what the IBOs are apparently implying is that the diamonds are millionaires. I'm sure there are some diamonds who indeed are millionaires', especially if they are tenured diamonds, in particular the crowns and higher. But conversely, I believe that many high-level diamonds are not millionaires. I believe it is just as common for a diamond to be in debt as it is 100 PV IBOs. I also believe that many diamonds did not accumulate their alleged wealth exclusively from Amway. I believe many diamonds wealth is a direct result of the tools sales and not so much from Amway. It makes perfect sense because the tools have a higher margin of profit than the Amway products and fewer people are involved in the payouts, typically platinum or higher.

The reason why this is an issue is because these big pins will stand on stage and show off excessive wealth and imply that it is their Amway income that pays for these mansions, sports cars, jet skis, and in some cases, aircraft. In the US, I attended a function called "Dream Nite" where these kinds of luxuries are displayed, to the tune of the song "I wanna be rich". The diamonds would say that you can have what they have, if only you will do what they advise. These functions still go on today and I believe it is now called Winter Conference for some groups. The diamonds imply that they all wake up when they want and travel and do whatever they want with no monetary worries. I believe they just performing as illusionists. A diamond's income as reported by Amway, cannot support the lifestyles portrayed at these dream nights. and certainly not paying for mansions and aircraft in cash.

Stanley and Danko's book, "The Millionaire Next Door"
http://www.personalfinanceplaybook.com/2009/08/the-millionaire-next-door/

This book makes some very interesting points which I believe applies to Amway diamonds. I will outline the significant ones and I will comment below:

**Predictably, the data shows that most people who you believe to be very rich are not.

**High net worth individuals, statistically, tend to be people that live within their means. They don’t spend a lot of money. They don’t waste money. They tend to be pretty frugal people.

**The authors point out that most of the richest people you know aren’t driving expensive luxury automobiles. That’s what the people who want everyone to think they’re rich drive.

Joe's commentary. The book does say that about 1/3 of millionaires acquired their wealth thru a J-O-B and saved and invested, but did mention that many millionaires were also business owners, such as a pest control company owner, etc. But based on the points made by the book above, I can see where it is likely that diamonds portray a wealthy lifestyle as a recruitment tactic, when the reality is they may be living very middle-class lifestyles off stage or may even be in debt. I have seen evidence of diamonds having their homes foreclosed and being in debt (Ruth Carter's book: Amway: Behind the Smoke and Mirrors). Recently, there was also a report that Triple Diamond Greg Duncan filed for bankruptcy. The report indicated that he could not make his mortgages, or something to that tune. Odd, because when I was in WWDB, some of the upline leaders said diamonds paid cash for everything because paying interest to the bank wasn't very smart.

My question is why IBOs continue to make up these claims? Try googling millionaire or Amway millionaire. There is nothing to indicate that Amway was responsible for creating the "most millionaires" of any US company. If this were true, wouldn't Amway state it on their website? If someone finds any veracity about this claim, inform me and I will post it. Alas, you won't.