30% of Forbes 400 billionaires inherited their wealth, 70% did not. What exactly are you using to claim that the super rich derive their wealth from inheritances?
I think the US actually is still by far the best place to become a billionaire. Only to have any shot at that at all, you need to start out as still fairly affluent. You need to have the time, opportunity and education to work on that dream, to grab that rare opportunity.
If your mind is entirely occupied with where your next meal comes from, whether you'll make rent at the end of the month, and how you're possibly going to cope with the random accidents of life, your mind can't even afford to think about bigger plans or opportunities.
Lift people out of that misery at the bottom. Make sure everybody has access to a good education. Make sure nobody goes bankrupt due to medical emergencies. Do that, and people will have the chance to move up again.
The US is still one of the very few countries where a lower-class person can become a billionaire.
I can name about three to four dozen recently listed (Forbes 400) US billionaires that came from poverty. You can look them up, the lists are easy to Google. Further, according to Forbes about half of their real estate billionaires come from at or below middle class, and about 40% of tech billionaires do.
But Forbes doesn't include any state or state-affiliated families. Considering the influence that is packaged with a billion dollars, it shouldn't be surprising that in many places wealth and political power are more closely tied than they might be in the US or Europe.
How many billionaires in the Middle East aren't counted? High ranking government officials in many countries also are likely billionaires via corruption.
It's unclear what proportion would be inherited vs new wealth, but it's another dimension worth considering.
Forbes 400 lists only Americans. It has nothing to do with Middle East billionaires or foreign government billionaires, who are listed under a different category.
The rich are not just the billionaires. Try anyone who has enough that they'd never have to work if they didn't want to. Which is anyone with about $10 million and up.
Well, the numbers are similar for millionaires. This is for individuals deemed in the ultra high net worth category, which is $30 million and up....
"Sixty-five percent of the ultra-rich made their own money, while an additional 16 percent inherited a portion of the wealth that they grew to a larger fortune. The self-made rich have an average net worth of $142 million, versus $130 million for those who inherited their money."
If your mind is entirely occupied with where your next meal comes from, whether you'll make rent at the end of the month, and how you're possibly going to cope with the random accidents of life, your mind can't even afford to think about bigger plans or opportunities.
Lift people out of that misery at the bottom. Make sure everybody has access to a good education. Make sure nobody goes bankrupt due to medical emergencies. Do that, and people will have the chance to move up again.