> Does this happen to anyone else?

This happens to pretty much everyone.

> What do you do about it?

Your options are:

Motivation: "If I learn to do the things s/he does, I can be more successful too."

Rationalization: "Well, if I had had the same opportunities s/he did, I'd have been just as successful. I did the best I could with what I had. And at least I'm still doing better than X, Y, and Z."

Indifference: "X is doing well? That's nice. Wonder what I should have for lunch today?"

I find I gravitate more towards the bottom of the list as I get older.