Did I read this correctly? One's background rate of making it to the top 1% is 0.89%? That's amazing isn't it? It's effectively almost completely random. Not a

Did I read this correctly? One's background rate of making it to the top 1% is 0.89%? That's amazing isn't it? It's effectively almost completely random. Not a massive surprise that someone who goes from 10% to 90% has something going for them that means they reach 99% more frequently than the base rate but that appears to then only by 2.1%, or twice what you would achieve by chance alone. I must be missing something. > Controlling for age, parental background and earnings, moving from the 10th percentile to 90th percentile of wealth distribution increases the probability of making it to the top 1 percent by 1.2 percentage points compared to an average probability of 0.89 percent.