@McGentrix,
McGentrix wrote:
Cycloptichorn wrote:
Usually, because of the money their parents had. It's actually the same reason.
Cycloptichorn
here are the 20 wealthiest people in America.
The 20 Richest Americans
Quote:
1. William Gates III
Bill Gates' family wasn't rich per se, but was definitely upper middle class. His father was a lawyer, his mother sat on the board of a few companies and his grandfather was a bank president. He attended prep school and certainly was given an advantaged education.
2. Warren Buffett
Warren Buffett didn't come from wealth but he certainly had connections; his father was in the investment business and was a 4-term Republican Senator.
Quote: 3. Lawrence Ellison
A truly self-made man by any estimation.
Quote:
4. Jim Walton
5. S Robson Walton
6. Alice Walton
7. Christy Walton & Family
The Waltons of course inherited their family fortune, as you pointed out.
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8. Michael Bloomberg
I can't find any conclusive information either way about Bloomberg's early life either way, so there is no reason to assume he is anything but a self-made man.
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9. Charles Koch
10. David Koch
Charles and David Koch inherited their company, Koch Industries, from their father. If that doesn't count as 'wealth inherited from parents,' I don't know what does.
Son of an orthodontist and a stockbroker. My guess is that he had all the money he needed, including funding from his grandfather to start his business in the first place.
Allen's family was well-off and his father was Director of the library system for UW. Private school all the way.
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13. Sergey Brin
14. Larry Page
These two guys are interesting; both came from educated families but not rich ones. Self-made men.
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15. Sheldon Adelson
Definitely a self-made man, Adelson came from no real money or education background.
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16. Steven Ballmer
Hard to say.
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17. Abigail Johnson
Made her money working for her father's company, Fidelity investments. Her father is somewhere on this list as well; worth about 11 billion himself.
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18. Jack Taylor & Family
Self-made man, founded Enterprise rent-a-car and flew fighter planes in WW2.
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19. Anne Cox Chambers
Inherited her money from her father's newspaper biz fortune.
Son of a Producer in Hollywood, but he was pretty poor at one point of his life and built his own way up from what I can tell.
Quote:Which ones are wealthy because their parents were? I would guess a few of the Walton's, but I would still call them new money as Dad just recently became super-wealthy.
Well, let's see.
4. Jim Walton
5. S Robson Walton
6. Alice Walton
7. Christy Walton & Family
9. Charles Koch
10. David Koch
17. Abigail Johnson
19. Anne Cox Chambers
8 out of 20 can honestly be said to have inherited their money or a big business from their parents. Most others on the list had parents who were well enough off to ensure them a great education. Very few came from neither money nor educational advantage. I agree that all of these are what you would call 'new money.'
Cycloptichorn