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> 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. The report, which is b
by perfmode 6y ago
> 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. The report, which is based on 2018 data, “showed muted growth” in the number of ultra-wealthy people that year, “rising by 0.8% to 265,490 individuals,” says Wealth-X.
> Of those folks, 67.7% were self-made
of the ~1600 people who crossed a threshold of $30M, 67% are self made. this is 1000 people.
does anyone else feel this is a statement intended to shape public perception?
does anyone feel that a reader might be misled into coming to a different conclusion than what the data actually indicates?
- valuearb 6y agoSince there are political groups who promote the opposing ideas that the actual ratio of self made wealth is nearly 100%, or close to 0%, it’s good to have actual data for the discussion.
- perfmode 6y agoI agree with you except I'd point out the promoted percentage is 67%.
- claudiulodro 6y agoI agree. Good data about the nuances around this seems tricky to find. In addition to reading The Millionaire Next Door a long time ago, I just did a little further research and found: > A 2017 survey from Fidelity Investments found that 88 percent of millionaires are self-made.[1] I'm not sure if there's anything super motivational about knowing that most millionaires are professionals near retirement age, though. :) [1] https://money.usnews.com/money/blogs/on-retirement/articles/7-myths-about-millionaires https://money.usnews.com/money/blogs/on-retirement/articles/...
- knightofmars 6y agoWealth-X is the company that did the initial research. I would say, yes that they are indeed attempting to shape public perception. "Wealth-X partners with prestige brands across the financial services, luxury, not-for-profit and higher-education industries to fuel strategic decision-making in sales, marketing and compliance."
- adamredwoods 6y agoKeyword that I cringe at is "self-made". No one is ever "self-made". These people are lucky, maybe, but self-made is a narcissistic term of false-connotation. Ford said it well in the article, and I'd like to add that MANY engineers helped make the rocket: >> “Just as not everyone is qualified to be an astronaut, it takes a special kind of person to be an entrepreneur,” [Ford] added. “You need discipline, intelligence, extreme dedication. But the best astronaut in the world can’t fly to the moon unless someone gives them the rocket.”
- deleted 6y ago[deleted]