Can you get rich starting a hedge fund?

No, starting a hedge fund alone will not make you rich. Nothing is automatic. Actually the legal paperwork for a fund will COST YOU MONEY on day 1.

However, if you are able to generate above-average returns consistently during bullish and bearish markets and attract enough investment capital over a period of several decades, comply with all the legal/accounting regulations, keep investors happy, keep your team financially incentivized, hire sharp individuals that can help grow your firm, and add real value to your LP’s, then maybe it can make you rich.

The paperwork will not make you rich :)