Why People Love Watching Rich People Fail
Most people get this WRONG about success…
You might think everyone wants to see others succeed. That’s what social media and motivational speakers tell us, right? But deep down, something else is at play.
Ever notice how people love watching billionaires lose it all? How the internet erupts when a celebrity gets caught in a scandal? Or why “rich person fails” make headlines faster than their successes?
It’s not just entertainment, it’s psychology. And it has a name: Schadenfreude.
This article breaks down why we secretly enjoy watching the rich fall, how this mindset affects our own success, and what you can do to escape the trap.
The Billionaire Who Lost It All
To understand why people love rich failures, let’s look at Sam Bankman-Fried, the crypto billionaire who went from being worth $26 billion to sitting in a jail cell.
Sam was a golden boy, media loved him, celebrities endorsed him, and investors threw billions into his company, FTX. He promised financial freedom to everyday people, calling crypto the future.
It turns out that FTX was built on lies. He was using customer money for risky bets. When the truth came out, the company collapsed overnight. Billionaires panicked. Every day people who trusted him lost their savings.
The internet exploded with memes, jokes, and “I told you so” posts. People who had never invested in crypto felt vindicated. The story of a rich guy losing it all became more viral than any of his successes.
He went from the top of the world to the bottom of a prison cell. But why did people enjoy his downfall so much?
Because of one brutal truth: People want success… but only for themselves.
Why We Love Seeing the Mighty Fall
Humans are wired to compare themselves to others. When someone “above” us fails, it feels like we are winning by default.
Think of life like a race. If you can’t run faster, the next best thing is seeing someone ahead trip and fall.
Look at Elon Musk. Every time Tesla stock drops, Twitter explodes with “Tesla is doomed” posts. Even though Tesla is still one of the most successful companies in the world, people want to see Musk fail.
Tesla is doomed!!!!
— Whole Mars Catalog (@WholeMarsBlog) April 20, 2023
Why? Because watching someone lose money feels like we’re gaining status, even when we’re not.
People love motivational success stories… until those success stories make them feel like failures.
We support underdogs, but the second they become “too successful,” we turn on them.
It’s why people loved early Mark Zuckerberg but now call him a villain. It’s why everyone cheered for Conor McGregor until he became “too cocky.”
The lesson? People don’t hate success. They just don’t want to feel left behind.
How to Escape the Schadenfreude Trap
Watching rich people fail might feel good in the moment, but it’s a success-killer for your own life. Here’s how to break free:
Step One: Catch Yourself Comparing
Whenever you see someone fail and feel good about it, stop and ask: Why do I care? Does their failure actually improve my life? Or is it just an emotional escape?
Step Two: Shift to a Winner’s Mindset
Instead of cheering failures, study them. Ask: What mistakes did they make? How can I avoid them? Every downfall is a free lesson.
Step Three: Build Your Own Wins
It’s easy to judge from the sidelines. Harder to play the game. Instead of watching the rich fail, focus on how you can succeed, whether it’s in business, relationships, or personal growth.
“If you spend your time laughing at failures, you’ll never have time to build your own success.”
Tag someone who needs to hear this. What’s your biggest lesson from watching someone fail? Drop it in the comments.
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