6 ms·

Sweden has more billionaires per capita than the USA. Similar to the US, they also pay less in taxes than the middle class. I wonder if Sweden has higher fundi

by coryrc 5y ago

Sweden has more billionaires per capita than the USA. Similar to the US, they also pay less in taxes than the middle class. I wonder if Sweden has higher funding than the rest of the continent?

Gwypaas 5y ago
Sweden has higher funding per capita, but does not answer why it became this way. https://www.statista.com/statistics/1071105/value-of-investments-by-venture-capital-worldwide-by-key-market/ https://www.statista.com/statistics/1071105/value-of-investm...
- coryrc 5y ago
  Wow, thanks for the link! Four times Germany and almost the same as the USA.
  - aapl88888 5y ago
    You are using a false equivalence. Almost none of Swedish billionaires are in high tech.
aapl88888 5y ago
Almost all of them are old people outside of tech https://en.wikipedia.org/wiki/List_of_Swedish_billionaires_by_net_worth https://en.wikipedia.org/wiki/List_of_Swedish_billionaires_b...
- coryrc 5y ago
  Overall, little of Europe's VC goes into the kind of things we talk about on this site. But if levels are much smaller than the USA it just produces another burden. Looking at these numbers, if I was going to get funding I would try Sweden before France.
mannerheim 5y ago
> In the 2013 list, approximately 40 percent of Sweden’s billionaires are self-made while 60 percent inherited their wealth. In the United States, by contrast, 70 percent of billionaires are self-made while around 30 percent inherited their wealth. Once we exclude inherited wealth, the United States has around 1 self-made billionaire per million inhabitants compared to 0.6 for Sweden. https://www.nationalreview.com/the-agenda/guest-post-tino-sanandaji-swedish-billionaires-reihan-salam/ https://www.nationalreview.com/the-agenda/guest-post-tino-sa...
- whimsicalism 5y ago
  50% of all wealth in the United States is inherited by the top 5% wealthiest families. 60% of all wealth in the United States is inherited.
  - mannerheim 5y ago
    Not particularly relevant. A significant chunk of that inherited wealth comes in the form of housing. The US has a total wealth of $105t, $36.2t of that is housing, which then ends up getting inherited by homeowners' children. We're talking about how billionaires make their wealth as a proxy for entrepreneurship. It makes no sense to talk about how many billionaires Sweden has as a measure for their entrepreneurship if most of them inherited their wealth.
    - CRConrad 5y ago
      > > 50% of all wealth in the United States is inherited by the top 5% wealthiest families. > Not particularly relevant. A significant chunk of that inherited wealth comes in the form of housing. The US has a total wealth of $105t, $36.2t of that is housing, which then ends up getting inherited by homeowners' children. Feels utterly relevant; what's irrelevant is your fact that much of US wealth is bound up in housing: The top 5% wealthiest families are hardly likely to live in 50% of all housing.
  - WalterBright 5y ago
    Gates/Allen/Bezos/Jobs/Ellison/Google/Netflix/etc did not inherit their wealth.
hackerNoose 5y ago
Sweden is unusual in that way. You often hear about that it's one of the countries with the most equal income distribution but at the same time it has one of the highest wealth inequalities. Basically it's hard to make any money by working you have to own things.

by coryrc 5y ago

Sweden has more billionaires per capita than the USA. Similar to the US, they also pay less in taxes than the middle class. I wonder if Sweden has higher funding than the rest of the continent?

Gwypaas 5y ago

Sweden has higher funding per capita, but does not answer why it became this way. https://www.statista.com/statistics/1071105/value-of-investments-by-venture-capital-worldwide-by-key-market/ https://www.statista.com/statistics/1071105/value-of-investm...

coryrc 5y ago
Wow, thanks for the link! Four times Germany and almost the same as the USA.
- aapl88888 5y ago
  You are using a false equivalence. Almost none of Swedish billionaires are in high tech.

aapl88888 5y ago

Almost all of them are old people outside of tech https://en.wikipedia.org/wiki/List_of_Swedish_billionaires_by_net_worth https://en.wikipedia.org/wiki/List_of_Swedish_billionaires_b...

coryrc 5y ago
Overall, little of Europe's VC goes into the kind of things we talk about on this site. But if levels are much smaller than the USA it just produces another burden. Looking at these numbers, if I was going to get funding I would try Sweden before France.

mannerheim 5y ago

> In the 2013 list, approximately 40 percent of Sweden’s billionaires are self-made while 60 percent inherited their wealth. In the United States, by contrast, 70 percent of billionaires are self-made while around 30 percent inherited their wealth. Once we exclude inherited wealth, the United States has around 1 self-made billionaire per million inhabitants compared to 0.6 for Sweden. https://www.nationalreview.com/the-agenda/guest-post-tino-sanandaji-swedish-billionaires-reihan-salam/ https://www.nationalreview.com/the-agenda/guest-post-tino-sa...

whimsicalism 5y ago
50% of all wealth in the United States is inherited by the top 5% wealthiest families. 60% of all wealth in the United States is inherited.
- mannerheim 5y ago
  Not particularly relevant. A significant chunk of that inherited wealth comes in the form of housing. The US has a total wealth of $105t, $36.2t of that is housing, which then ends up getting inherited by homeowners' children. We're talking about how billionaires make their wealth as a proxy for entrepreneurship. It makes no sense to talk about how many billionaires Sweden has as a measure for their entrepreneurship if most of them inherited their wealth.
  - CRConrad 5y ago
    > > 50% of all wealth in the United States is inherited by the top 5% wealthiest families. > Not particularly relevant. A significant chunk of that inherited wealth comes in the form of housing. The US has a total wealth of $105t, $36.2t of that is housing, which then ends up getting inherited by homeowners' children. Feels utterly relevant; what's irrelevant is your fact that much of US wealth is bound up in housing: The top 5% wealthiest families are hardly likely to live in 50% of all housing.
- WalterBright 5y ago
  Gates/Allen/Bezos/Jobs/Ellison/Google/Netflix/etc did not inherit their wealth.

hackerNoose 5y ago

Sweden is unusual in that way. You often hear about that it's one of the countries with the most equal income distribution but at the same time it has one of the highest wealth inequalities. Basically it's hard to make any money by working you have to own things.