Nice clickbait but it's a huge fallacy. For starters, the premise is false.
Warren Buffet would be the most obvious counter example of this, but there are plenty more. People who started out poor or middle class and become rich usually don't waste money, and if they make expenditures that may seem obscene to you you have to think of them as a tiny part of their net worth.
Besides the bullshit you say has the following fallacious form:
1. Rich people waste money,
2. I waste money.
Conclusion: I am rich.
The bullshit is just as stupid as the following:
1. Monkeys drink water.
2. I drink water.
Conclusion: I am a monkey.
And fellas, that’s what rich folks do, they throw money around like it’s nothing. 
Warren Buffet would be the most obvious counter example of this, but there are plenty more. People who started out poor or middle class and become rich usually don't waste money, and if they make expenditures that may seem obscene to you you have to think of them as a tiny part of their net worth.
Besides the bullshit you say has the following fallacious form:
1. Rich people waste money,
2. I waste money.
Conclusion: I am rich.
The bullshit is just as stupid as the following:
1. Monkeys drink water.
2. I drink water.
Conclusion: I am a monkey.
Lol this is a funny and intelligent way to explain this, wasting money on gambling doesn't make you rich like others that are doing it when you know fully well that you are struggling financially...what this actually does to you is that you put yourself in a more precarious situation due to accumulative losses... people who talk like this Don't keep track of their losses that's why they keep throwing money away even when they are broke