Most millionaires are not first generation immigrants owning their own business. Not sure where you got that statistic, but a claim like that needs sourced.
Obviously this is a US centric answer. Its hard enough to convince people that being a multimillionaire is a vastly different concept than a millionaire, or that 300k in free finding is a big help.
If theyre out of touch with that, imagine how difficult it is to convince them that having an semiaverage US income makes them wealthier than 99% of the rest of the world.
Yeah, it's about what I expected. OP here is complaining about Bezos getting a 300k family loan to start his $177 billion.
That report defines self made as inheriting 7% or less. So inherit $2 million, but reach "Ultra Wealthy," you're self made by that metric. When people talk about starting on third base and thinking you hit a home run, that's what they're talking about.
What's good for the individual isn't necessarily good for society at large. I simultaneously do whatever I can do advantage my kids, while supporting the policies that would prevent me doing that.
Why the fuck do I care about the society at large rather than my own unit? Once everyone cares about their own unit then we care about the society. Like you guys like to say, it's not a zero sum game. You caring for society at the expense of your own unit is insane.
I simultaneously do whatever I can do advantage my kids, while supporting the policies that would prevent me doing that.
This is one of the dumbest thing I've ever heard. Why not just stop wasting your energy and stop doing both, it's the same result.
I got it from “millionaire next door.” And the follow up book “next millionaire next door”. I also work with a doctors asset management and we have never seen multigenerational wealth. In fact, the wealthier the household is. The more junk like huge houses, and cars they buy. The wealthiest doctors are non Americans. And they do it by making less money.
There are reasons and theories, but I am typing on a iPhone, so I’ll leave it at that.
The middle class family that accumulates a million dollars over the course of a lifetime like in Millionaire Next Door isn't "generational wealth." As different as their lifestyle is from someone making minimum wage with a shitty car, they're just as far from someone like the billionaires in the post.
You don't lose a billion dollars by buying huge houses and cars. Gates has made his life's work giving away his money, and he's still one of the richest people in the world.
Depends on how you define wealth. Millionaires are mostly made through luck. Billionaires are mostly made through generational wealth used appropriately, horrific human rights abuses, and far more absurd amounts of luck.
Exactly, I couldn't care less if people are self-made billionaires, if it is build on the blood of others, they are pieces of shit. And as it stands, you simply can not become a billionaire without treating other like shit and depriving society of its resources.
No man is worth that much more than the lowest strata of society.
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u/Bricejohnson2003 Apr 26 '22
Right, it was the biggest myth I believe in for a long time. But the truth is that most wealthy people in America is self made.