@matiu_bidule We call that cherry picking. To be clear the majority of rich people in the USA started from middle class or lower.
Wrong
68% of billionaires are self-made (not born into inheritance)
How does that quote debunk the fact that the same report indicates 68% of billionairs are self made? They also analyzed other categories of wealth, so what?
@freemo
You are aware that someone with 30mil in the bank is a measly 3% of a billionaire, right?
Or to answer your question: Because the report defines the ultra-wealthy as someone with 30mil or more, which isn't the same as a billionaire, as @icedquinn originally said.
@matiu_bidule
Cool story bro. Try reading the report, it doesnt say that.
The report has 6 buckets it analyzes. One, the lowest is the 30mil threshold, the top is the 1 bil+ bucket. Yes the report explicitly covers billionaires along side other categories of wealth.
Like i said, if you want to criticize something, read first, talk second.
I cited the study.. did you read the actual study or not? If you didnt read the study then what are you arguing against?
Ahh I see what you mean now. That was the wrong link and the figure is slightly lower:
https://www.wealthx.com/report/the-wealth-x-billionaire-census-2019/
Thats the source of the actual report, and the 1bil + who are self made appear to be 55.8% not 68%.
My apologies I thought I was linking to the report.
@freemo
That's fair, it happens.
@icedquinn @matiu_bidule
@freemo
Although I must admit that I disapprove of their lack of definitions. It makes it quite hard to determine how they arrived at their results.
@icedquinn @matiu_bidule
I've seen the >50% self-made/middle-class figure for billionairs from half a dozen to a dozen sources over the years. If you are skeptical of this report there are quite a few others you can reference if you'd like. the numbers vary slightly but they are usually close to or above 50% in all the ones I've seen using different methodologies.
@freemo
It is entirely possible, I'd just prefer that they tell me upfront what criteria determines self-madeness, inheritance or a combination of the two, because without them, how am I supposed to draw conclusions from their statistics.
@icedquinn @matiu_bidule
@freemo
You cited a webpage that said the ultra-rich are 68% self-made, not that billionaires are (because ultra rich is defined as being worth 30m+).
And yes, I did read what you linked.
@icedquinn @matiu_bidule