Some make two or three times the income that their employee counterparts do and that is after paying all their taxes.
It is the compensation for being at risk. You don’t work you don’t get paid. your skills are perishable though, you have to keep up to date on your own.
I’ve never had a job my whole life. Have freelanced and owned several small businesses.
It can be a bit nerve-wracking at times but I’ve been doing it for more than 40 years and at this point there will never be a change.