CameronPoe wrote:
lowing wrote:
your point that their are people who are born into rich families is irrelevant to the discussion and my point as a whole. but I am not saying something you do not already damn well know.
Your original point was about people who
earned their money.
you are derailing from the point made, by trying to split hairs. How about you address what was said, in the spirit intended?
Out with the Old Money, In with the New
When it comes to America’s richest people, it’s mostly a story of self-made fortunes.
"Last year marked the 25th anniversary of Forbes magazine’s annual list of the 400 richest Americans, which, as a recent book puts it, has become “the dominant symbol of wealth in America.” All the Money in the World—produced by the collaborative work of editors Peter W. Bernstein and Annalyn Swan and writers Paul Berger, Anna Isgro, Gwen Kinkead, and Alex Ulam—explores a quarter century of American fortunes: how they were created, how they were spent, and where the moneymakers came from.
Over the years, the Forbes list has reflected key changes in the U.S. economy. “In the first Forbes 400, oil was the source of 22.8 percent of the fortunes, manufacturing 15.3 percent, finance 9 percent, and technology 3 percent,” the book reports. “By 2006 oil had fallen to 8.5 percent and manufacturing to 8.5 percent. Technology, however, had risen to 11.75 percent and finance to an extraordinary 24.5 percent.” Meanwhile, self-made wealth had grown more influential compared to inherited wealth. “Twelve families who possess ‘old money’—bearing names such as Du Pont, Ford, Frick, Rockefeller, Harriman, Hunt, Hearst, and Whitney—represented 21.4 percent of the list in 1982. They had declined to 1.7 percent in 2006.” Inherited wealth is still “a very powerful factor in American society,” and today’s new money will become tomorrow’s old money. “But even when heirs who increased the family fortune are counted on the ‘inherited’ side of the ledger, that number continues to fall against the self-made. In 1982, 212 members of the 400 created their own fortunes—just over half the entire number. By 2006 the number of ‘self-made’ fortunes had risen to 280, with the heirs dwindling to less than a third of the list.”
Self-made fortunes dominate the upper echelon of the 400. Tellingly, only one inheritor has ever placed Number 1: Gordon Getty, son of the late oil baron Jean Paul Getty, earned that distinction in 1983 and 1984. But in the 2007 Forbes list, Getty ranked 133rd."
taken form
http://www.american.com/archive/2008/ma … ican-sceneand just because they are not listed in the top 400, does not mean there isn't many more out there.