What they really mean is that they didn’t inherit their immense wealth, which means there was a time in their lives when they weren’t obscenely wealthy.
Except even that doesn’t hold up under close scrutiny. A big component of the market cap of any Fortune 100 company stems from equity and debt held by the generationally wealthy, typically through family funds managed by private equity groups. Amazon and Tesla aren’t worth $1T without the Vanderbilts and the Carnegies and the Adelsons and the Waltons bidding up asset prices. Microsoft doesn’t exist today without Bill Gates’s mom sitting on the IBM board of directors and handing her son the contracts for their 1980s OS. Hell, Berkshire Hathaway is owned by the sons of a Congressman and a federal judge, respectively.
What’s more, the biggest source of market capital is inevitably government contracts. You can’t tell me that Michael Dell is “independently wealthy” when the bulk of his fortune came via the Texas public school system buying all his company’s computers. Particularly when the governors, legislators, and board members making these decisions are (a) big shareholders of the Dell corporation and (b) legacy scions of wealthy Texas families.
They get to play in a sandbox designed for them. They’re taught how to play in the sandbox, and are given the toys to play (roads, electricity, raw materials for example). We get to be the sand.
I made all my money myself. After I graduated from private school with my personal trainer and one on one tutoring and my car I didn’t have to work for and my apartment I didn’t have to pay for I definitely earned my first job myself. I mean, my dad didn’t interview with his good friend from the country club, I DID! Give me the credit I deserve! I am a self made man!
Only two super wealthy people come to mind: Oprah and Rowling. Both are bastards (Oprah mostly because of who she endorsed and her increasing lack of connection to the average American).
Didn’t think of her. Her parents did literally change their entire lives around her and sacrificed a lot to help her career, but I’d say that though most parents couldn’t afford or have the opportunity to that much, Taylor did build her empire from scratch. She didn’t come from poverty, but wasn’t wealthy from the start.
“mainly selfmade wealth”
That doesn’t exist, let’s stop fucking pretending it does.
What they really mean is that they didn’t inherit their immense wealth, which means there was a time in their lives when they weren’t obscenely wealthy.
Except even that doesn’t hold up under close scrutiny. A big component of the market cap of any Fortune 100 company stems from equity and debt held by the generationally wealthy, typically through family funds managed by private equity groups. Amazon and Tesla aren’t worth $1T without the Vanderbilts and the Carnegies and the Adelsons and the Waltons bidding up asset prices. Microsoft doesn’t exist today without Bill Gates’s mom sitting on the IBM board of directors and handing her son the contracts for their 1980s OS. Hell, Berkshire Hathaway is owned by the sons of a Congressman and a federal judge, respectively.
What’s more, the biggest source of market capital is inevitably government contracts. You can’t tell me that Michael Dell is “independently wealthy” when the bulk of his fortune came via the Texas public school system buying all his company’s computers. Particularly when the governors, legislators, and board members making these decisions are (a) big shareholders of the Dell corporation and (b) legacy scions of wealthy Texas families.
To them, poor is probably like just a few dozen million USD.
I get what they’re getting at, but selfmade has that connotation with it.
They could say not inherited vs inherited wealth
They get to play in a sandbox designed for them. They’re taught how to play in the sandbox, and are given the toys to play (roads, electricity, raw materials for example). We get to be the sand.
If only the sand realized how many people and weapons there are. We could figure this shit out in a day
Only the grains that are knocked out of the box don’t get played any more.
People that play with the sand too, tho
I made all my money myself. After I graduated from private school with my personal trainer and one on one tutoring and my car I didn’t have to work for and my apartment I didn’t have to pay for I definitely earned my first job myself. I mean, my dad didn’t interview with his good friend from the country club, I DID! Give me the credit I deserve! I am a self made man!
Only two super wealthy people come to mind: Oprah and Rowling. Both are bastards (Oprah mostly because of who she endorsed and her increasing lack of connection to the average American).
Who helped Taylor Swift? (I don’t know myself)
Didn’t think of her. Her parents did literally change their entire lives around her and sacrificed a lot to help her career, but I’d say that though most parents couldn’t afford or have the opportunity to that much, Taylor did build her empire from scratch. She didn’t come from poverty, but wasn’t wealthy from the start.