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@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)
> The market research firm analyzed the state of the world’s ultra-wealthy population — or those with a net worth of $30 million or more.
yea there's more people with 'just' millions than there are billionaires, so. also the meme didn't claim they were born in to billions but what they did inherit were extremely powerful connections.
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.
@freemo
I'm not saying billionaires can't be self made, just that the link you've provided does not say that billionaires are 68% self made, and that the stats for people with 30m aren't applicable to billionaires.
Showing that the study accounted for billionaires simply isn't good enough. You also have show the results for them.
@icedquinn @matiu_bidule
I cited the study.. did you read the actual study or not? If you didnt read the study then what are you arguing against?
@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
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
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
That's fair, it happens.
@icedquinn @matiu_bidule