One singular anecdote doesn’t say much about the overall state of things. I don’t think anyone in their right mind would claim in present day that Donald Trump became wealthy without receiving significant financial help/inheritance from his family.Of course there will be some people who are rich due to the wealth they inherited from their parents, that number will not be zero anywhere.
There are multiple studies on this, but they all seem to converge on the number of around 80% of current millionaires in the US being first generation/self-made[0]. That is, the ones who didn’t receive an inheritance from their parents or other family members.
It also shows some other interesting stats, such as “only 8% of those in the study attended prestigious private schools, with 62% attending state schools.”
There are multiple studies on this, but they all seem to converge on the number of around 80% of current millionaires in the US being first generation/self-made[0]. That is, the ones who didn’t receive an inheritance from their parents or other family members.
It also shows some other interesting stats, such as “only 8% of those in the study attended prestigious private schools, with 62% attending state schools.”
0. https://finance.yahoo.com/news/79-millionaires-self-made-les...