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New data show that joining the 1% remains unsettlingly hereditary
- necessity 10y agoWell if you consider all billionaires and not just the top of the top, the trend is the opposite. Billionaires who inherited their wealth were 55.3% in 1996, 41.9% in 2001, and 30.4% in 2014. https://piie.com/publications/wp/wp16-1.pdf https://piie.com/publications/wp/wp16-1.pdf
- bediger4000 10y agoSure, but when the King changed, the hereditary aristocracy gets left in place. 1% == current aristocracy.