Why are the 1% of the Population the wealthiest?

There is a very big difference between being rich and being wealthy.
A rich man have money, a wealthy man owns money.
The difference might not be very clear to majority of the populace.
according to my own perception I believe the 1% are those who are ruling the world,
When they say you are wealthy, it means you have Freedom, a perfectly working relationship with family and loved ones, and you own a business that is pumping money for you while you sleep.
On the other hand being rich according to my own perception means, having money, working for money, earning a huge salary and living the good life by flaunting it.

To cut the whole story short, why is that the so called 1% are the wealthiest?
I want us to discuss this questions please.
How can someone that is born in poverty be among the 1% club?
Is the so called 1% conundrum a myth or a fact?

please steemers i want to know your opinions.
My perception can be conflicting, I stand to be corrected, I am teachable. Thank you.