I think there's only 2 options either get a decent job or set up a business (legal)
I don't think just by setting up business one can become rich. He should have good knowledge about the business what he is doing and also some luck.
Ofcourse before diving into business you have to have a good knowledge of what you are going into. But going into business will give you the freedom to earn what you want based on your determination.
That's a nice assumption and all, but being successful in a business is not all about determination. My dad ran a golf shop in a small town and got a lot of business through determination and passion for golf. He was extremely successful, until one day a Dick's Sporting Goods came into town and ran my dad out of business. Could he overcome Dick's prices on golf merchandise through determination alone? Absolutely not... it's about filling a niche that hasn't really been filled before that makes a businesses REALLY successful (i.e. Walmart, McDonald's, Bitcoin)
If you reinvent how people use and buy everyday things, or completely invent something entirely new that's the TRUE way to get rich.
That sucks on what happened to your dad`s business.
But yeah, its the harsh reality and if its a competitor has a greater approach in the market share, then its a matter of how much business they take away. Leaving the business eventually to cripple.
As for the comment above with the whole research stuff, theres only a certain extent you can learn and spend your time on..