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Not surprising? It's virtually impossible to be a dollar billionaire under 30 without inheritance. Heck, the average 30-year-old doesn't even have close to $10
by blackhawkC17 3y ago
Not surprising? It's virtually impossible to be a dollar billionaire under 30 without inheritance. Heck, the average 30-year-old doesn't even have close to $10 million.
Only an extremely small number of people have done that, e.g., Palmer Luckey and Kylie Jenner.
- russfink 3y agoWithout inheritance. Or crime.
- blackhawkC17 3y agoCan you name the <30 years old criminal who stole $1 billion+, save for SBF?
- Madmallard 3y agoElizabeth Holmes
- blackhawkC17 3y agoPaper wealth that evaporated. Theranos didn’t even raise up to $1 billion in total.
- toomuchtodo 3y agoA bit above 30 (and $70M when the Bitcoin was stolen, appreciating to $4.5B while the stolen assets were being held), but Ilya Lichtenstein and Heather Morgan. https://news.ycombinator.com/item?id=30260787 https://news.ycombinator.com/item?id=30260787 https://www.justice.gov/opa/press-release/file/1470186/dl https://www.justice.gov/opa/press-release/file/1470186/dl
- worewood 3y agoIt's virtually impossible to be a dollar billionaire, period
- tredre3 3y ago> Heck, the average 30-year-old doesn't even have close to $10 million. I'm going to do a wild guess here and say that the average 30-year-old, outside the valley bubble, doesn't even have $1 million.
- caseyy 3y agoHN bias in these statements is wild. The average 30-year old probably has closer to $5k in savings and somewhere around that in net worth.
- rufus_foreman 3y agoDefinitely crazy bias, but it isn't that low. The Federal Reserve does a triennial Survey of Consumer Finances, in 2022 the median net worth for someone under 35 was $39,000. The average net worth for someone under 35 was $183,500, https://www.federalreserve.gov/publications/files/scf23.pdf https://www.federalreserve.gov/publications/files/scf23.pdf. So yes, it is true that the average 30 year old does not even have close to either $10 million or $1 million.
- caseyy 3y agoUnderstandable for the US. Still, the median is closer by orders of magnitude to 5k than 1M. I was loosely estimating the numbers for the Western world, including West Europe, in my head. I don’t know that many people who have significantly above $5k/£4k savings in the UK. The average worldwide net worth for 30 year-olds is probably a lot more meager than my estimate.
- rufus_foreman 3y agoNet worth doesn't just include savings, it includes home equity and even equity in vehicles. In the US, right around 50% of 30-34 year olds are homeowners. If someone has been making payments on a house they will be adding to their net worth, especially recently with the rise in housing prices. For non-rich people in the US, the majority of their net worth will be their home equity.