The Forbes 400 and the self-made wealth score #shorts

From A Better Question.

After criticism for declaring Kylie Jenner the youngest "self-made" billionaire, Forbes created a self-made wealth scale which categorizes the worlds wealthiest people from 1-10: 1-5 inherited their wealth, 6-10 made it themselves.


Forbes declares 69.5% of the 400 richest Americans are "self-made". Yet on closer inspection the categories are so broad they’re almost meaningless and "self-made" seems more about self-identifying than actually building a fortune from nothing.

Which is not to say it doesn’t happen – look at Oprah’s story – but only 8% of the Forbes 400 score a 10. Claiming that nearly 70% of America’s richest came from backgrounds just like everyone else’s, feeds into a broader myth about income inequality, social mobility, and the accessibility of the American Dream.

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