If you're making $400k per year, how long before you start to accumulate substantial wealth? Pretty quickly I'd say. Sure it might not be millions, but if you sock away $200k at age 25 after 3 years, you have more wealth than 99% of people your age.

"Wealthy" is not limited to wealth alone. If you're making $2M a year and have no savings, you're still "wealthy".

And people with large amount of wealth (your definition) can still become destitute. There are plenty of examples.