I was just quoting jack ma words.. I can't comment whether he is from satki rich familee or not..
Even if Jack Ma not rich, he probably get to where he was via connections. Sometimes luck matters, need to be there at the right place right time.
Like applying job like that, sometimes everything falls into place and you happen to be selected for an upper management role and get above 30% increase.
Of course you have to do your part well, by preparing well for interview and having the relevant SME knowledge and speak in a coherent manner, etc. so that interviews are impressed.
Even Mah Bow Tan only got to where he was, because his dad was LKY's chauffeur and LKY groomed him as a result because he close with his dad.
When a country starts to develop, social mobility is there but as the country becomes more developed the social mobility space starts to close down.
That is when, social stratification (阶层固化) starts to take place because tricke-down economics don't work
due to the people already got rich refuses to help the others and keep the wealth amongst themselves and their families. They keep the wealth amongst themselves instead.
Overtime, it becomes difficult to break out of the cycle. Unless you think of a way to know the people at the top and try to get into their good books.
Like you see how PAP grassroots tries to do so, and hopefully be considered to stand in elections as potential future MP candidates in GE, etc.
Even if lose, still got other avenues e.g parked in a GLC or go Ntuc, etc. one.
Because simply finding a job now, when you are born into a middle-income where your family only own 1 HDB as asset means you have to slog and save like hell just to afford a simple housing.
Not like last time e.g 1980s and 1990s, where if you got university degree find a good job (easier as less competition) can easily buy a HDB and pay off fully within years or even buy a landed.
Nowadays other than being born in to generational wealth, only option is try to be in a position. Where you can interact with the upper-class (e g the elites, etc.) and curry your favour up.