Crossword Genius

Like a billionaires' club member, author reportedly has already joined? (7,2,2)

Ross

I believe the answer is:

rolling in it

'like a billionaires' club member' is the definition.
(rolling in it means very rich)

'author reportedly has already joined?' is the wordplay.
I cannot really understand how this works, but
'has already joined?' could be 'init' (in a group) and 'init' is present in the answer.
The remaining letters 'rolling' is a valid word which might be clued in a way I don't understand.
This explanation may well be incorrect...

(Another definition for rolling in it that I've seen is " Rich".)

I've seen this clue in The Guardian.
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