darkknight109 posted...
So?
This just strikes me as reverse-survivorship bias. If 1% of people with generational wealth translate it into billions and 99% piss it away, that still might mean it's the best predictor of extreme wealth
if only 0.00001% of people without generational wealth become billionaires.
The fact that some people with "Trait X" do not display "Outcome Y" does not mean that Trait X is not positively correlated with and/or a predictor of Outcome Y.
Which isn't even close to true.
I won't go through all of them but here are the top 10 billionaries:
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Elon Musk - Came from money
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Jeff Bezos - Grew up poor/middle class
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Bernard Arnault - Came from money
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Mark Zuckerberg - Grew up middle class
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Larry Ellison - Grew up poor/middle class
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Larry Page - Came from money
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Sergey Brin - Debatable, since his family where Soviet refugees. However, both parents became very successful.
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Bill Gates - Came from money
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Steve Ballmer - Grew up poor
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Warren Buffett - Came from money
So like 50-60% are generational wealth? Which doesn't even account for the fact that some of those "Came from money" people (I.E. Bill Gates) came from parents that were barely millionaires at best.