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Yet on the billionaire leaderboard the top-10 are: Musk, Arnault, Bezos, Ellison, Buffet, Gates, Zuckerberg, Balmer, Page, Bin. Not one of them through inherit

Yet on the billionaire leaderboard the top-10 are: Musk, Arnault, Bezos, Ellison, Buffet, Gates, Zuckerberg, Balmer, Page, Bin. Not one of them through inheritance. Sure, you have the waltons a little lower on the list. As a person who started in the bottom decile of wealth I want to hate inheritance at least as much as the next person. But at first glance it sure doesn't look good for these "researchers".

beardicus 3y ago
boy, i wonder if these researchers maybe did more research than casually glancing at at top 10 list on the internet?
- lapcat 3y ago
  > boy, i wonder if these researchers maybe did more research than casually glancing at at top 10 list on the internet? The "researchers" were the Union Bank of Switzerland. "UBS manages the largest amount of private wealth in the world, counting approximately half of the world's billionaires among its clients." https://en.wikipedia.org/wiki/UBS https://en.wikipedia.org/wiki/UBS
suoduandao3 3y ago
I think though that most of the people on that list had their net worths decrease last year. To my understanding this article is pointing to a pretty short-term trend, though maybe an important one.
- fsckboy 3y ago
  people have fewer children today, that concentrates any inheritance, including among people of modest means. depending on the statistics analyzed, people of modest net worth with one child could contribute to an overall upward skew.
hk__2 3y ago
> Yet on the billionaire leaderboard the top-10 are: Musk, Arnault, Bezos, Ellison, Buffet, Gates, Zuckerberg, Balmer, Page, Bin. According to Forbes there are 2,6k+ billionaires, so the top 10 is 0.3% of that.
- GreedClarifies 3y ago
  Weighted by wealth?
justinsaccount 3y ago
Musk: Rich father, emerald mine money? Arnault: "In 1971, he graduated from the École Polytechnique, France's leading engineering school, and began work for his father's company. Three years later, after he convinced his father to shift the focus of the company to real estate" Gates: "His father was a prominent lawyer" "At age 13, he enrolled in the private Lakeside prep school, where he wrote his first software program" "Microsoft co-founders Bill Gates and Paul Allen first met as teenagers in the late 1960s at Lakeside School in Seattle" Zuckerberg: "My dad, funny enough, right before each of us went to college offered us the options of going to college or like investing in a franchise and running it,” sister Randi Zuckerberg told CNN Business’ Laurie Segall of her dad’s offer to his son and each of his three daughters. They may not have literally handed their kids a sack full of money, but you can't argue that people like Arnault, Gates, Zuckerberg are not largely where they are today due to their parents wealth.
- lifestyleguru 3y ago
  It's disguisting how we praise these people and consider them "just like us".
- AaronM 3y ago
  Yeah, they all came from families that gave them a significant advantage over their peers. They could all afford to fail at entrepreneurship, and not have their life turned upside down by it.
- justinsaccount 3y ago
  oh, and according to https://en.wikipedia.org/wiki/Lakeside_School_(Seattle) https://en.wikipedia.org/wiki/Lakeside_School_(Seattle) > Annual tuition $40,080 Does your parents spending $160,000 to send you to high school not count as inheriting wealth ?
- 1234letshaveatw 3y ago
  largely lol, this is class warfare silliness. Zuck is largely a billionaire because his father offered to pay for college? Have you read up on the so called "emerald mine"?. And how many lawyer's kids do you know that are billionaires?
lapcat 3y ago
> But at first glance it sure doesn't look good for these "researchers". The "researchers" were the Union Bank of Switzerland. "UBS manages the largest amount of private wealth in the world, counting approximately half of the world's billionaires among its clients." https://en.wikipedia.org/wiki/UBS https://en.wikipedia.org/wiki/UBS

beardicus 3y ago

boy, i wonder if these researchers maybe did more research than casually glancing at at top 10 list on the internet?

lapcat 3y ago
> boy, i wonder if these researchers maybe did more research than casually glancing at at top 10 list on the internet? The "researchers" were the Union Bank of Switzerland. "UBS manages the largest amount of private wealth in the world, counting approximately half of the world's billionaires among its clients." https://en.wikipedia.org/wiki/UBS https://en.wikipedia.org/wiki/UBS

suoduandao3 3y ago

I think though that most of the people on that list had their net worths decrease last year. To my understanding this article is pointing to a pretty short-term trend, though maybe an important one.

fsckboy 3y ago
people have fewer children today, that concentrates any inheritance, including among people of modest means. depending on the statistics analyzed, people of modest net worth with one child could contribute to an overall upward skew.

hk__2 3y ago

> Yet on the billionaire leaderboard the top-10 are: Musk, Arnault, Bezos, Ellison, Buffet, Gates, Zuckerberg, Balmer, Page, Bin. According to Forbes there are 2,6k+ billionaires, so the top 10 is 0.3% of that.

GreedClarifies 3y ago
Weighted by wealth?

justinsaccount 3y ago

Musk: Rich father, emerald mine money? Arnault: "In 1971, he graduated from the École Polytechnique, France's leading engineering school, and began work for his father's company. Three years later, after he convinced his father to shift the focus of the company to real estate" Gates: "His father was a prominent lawyer" "At age 13, he enrolled in the private Lakeside prep school, where he wrote his first software program" "Microsoft co-founders Bill Gates and Paul Allen first met as teenagers in the late 1960s at Lakeside School in Seattle" Zuckerberg: "My dad, funny enough, right before each of us went to college offered us the options of going to college or like investing in a franchise and running it,” sister Randi Zuckerberg told CNN Business’ Laurie Segall of her dad’s offer to his son and each of his three daughters. They may not have literally handed their kids a sack full of money, but you can't argue that people like Arnault, Gates, Zuckerberg are not largely where they are today due to their parents wealth.

lifestyleguru 3y ago
It's disguisting how we praise these people and consider them "just like us".
AaronM 3y ago
Yeah, they all came from families that gave them a significant advantage over their peers. They could all afford to fail at entrepreneurship, and not have their life turned upside down by it.
justinsaccount 3y ago
oh, and according to https://en.wikipedia.org/wiki/Lakeside_School_(Seattle) https://en.wikipedia.org/wiki/Lakeside_School_(Seattle) > Annual tuition $40,080 Does your parents spending $160,000 to send you to high school not count as inheriting wealth ?
1234letshaveatw 3y ago
largely lol, this is class warfare silliness. Zuck is largely a billionaire because his father offered to pay for college? Have you read up on the so called "emerald mine"?. And how many lawyer's kids do you know that are billionaires?

lapcat 3y ago

> But at first glance it sure doesn't look good for these "researchers". The "researchers" were the Union Bank of Switzerland. "UBS manages the largest amount of private wealth in the world, counting approximately half of the world's billionaires among its clients." https://en.wikipedia.org/wiki/UBS https://en.wikipedia.org/wiki/UBS