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The level of wealth inequality in America is grotesque. A Pew Research report found that the richest families in the U.S. have experienced greater gains in wealth than other families in recent decades, a trend that reinforces the growing concentration of financial resources at the top. Moreover, the wealth gap between America’s richest and poorer families more than doubled from 1989 to 2016. To put that into perspective, in 2018, households near the top of the income had incomes that were 12.6 times higher than those near the bottom.

At the top of that very economic ladder stand billionaires. And according to Forbes, there were 2,153 billionaires as of March, with the ultra-rich worth $8.7 trillion, and that’s in 2019. Heading into 2022, the 10 wealthiest individuals in the world are all worth more than $100 billion, according to the Bloomberg Billionaires Index. The numbers are simply unbelievable, quite like some of their humble success stories.

But people are getting fed up with being told lies. They claim that self-made billionaires are nothing more than another case of nepotism, a common practice of power that favors relatives by giving them exclusive opportunities. We collected some of the most eye-opening arguments about it below, so be sure to scroll down and share your thoughts about this as you go.

Image credits: petergyang

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#2

People-Roast-Self-Made-Millionaires-Nepotism

miyek Report

Income inequality in the United States is at its highest level in at least 50 years, according to the government’s Census Bureau. According to Oxfam, the world’s wealthiest 26 individuals had the same amount of wealth as the poorest half of the population in 2018. But 2021 was a year like no other for the billionaires, and it’s not the world still trapped in an unprecedented public health crisis.

The number of billionaires on Forbes’ 35th annual list of the world’s wealthiest exploded to an unprecedented 2,755. That’s a whopping 660 more than just a year ago. According to Forbes, of those, a record high 493 were new to the list—roughly one every 17 hours, including 210 from China and Hong Kong. Another 250 who’d fallen off in the past came right back. As a result, this year we see a mindblowing 86% who are richer than a year ago.

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#5

People-Roast-Self-Made-Millionaires-Nepotism

SavageHuxley Report

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Jo Choto
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

There's just no good reason to be a billionaire. Having said that, billionaires don't actually have a billion in cash. They were worth that much because they have businesses of that value.

Ivana
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

You can only become a billionaire via the exploitation of others. If you weren't exploiting laborers then you wouldn't have billions because you would have paid your staff their worth and paid a high price for the raw materials being gathered from people making less than a dollar a day.

Walking On Sunshine
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

What is worse, in the US, are the billionaire-defender welfare garbage. You know, the ones who rail against taxing billionaires while taxpayers support *them*? Oh, what do we call them? It's on the tip of my tongue.

Laurie Lee
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

MOST people starve to death??? Come on, there are truths in what you say, your sensationalism makes you appear uninformed or lying.

Zoe Vokes
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Sir Alan Sugar was a self made billionaire from a poor upbringing. He doesn’t have lots of billions, but that’s because he pays taxes and donates to charity…

Magoomba
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Well, saying …”while most human beings starve to death “ might be a bit of a stretch I still get your point.

Zoe Vokes
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Company owners earn billions by paying themselves a ton of money, avoiding paying tax and paying their hardest working employees the minimum (with not enough benefits). Then they fly into space for no reason except bragging rights.

Michel Jung
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Ignoring that not "most human beings starve to death". It's easy to point to others and call them moral monsters. But do we hold ourselves to the same standards? For instance, what's on our dinner plates? Is there any good reason for consuming animal products that come from an industry so evil that it IS actually unparalleled? I suggest we look at our own actions first before blaming others.

Rob Detmar
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Hardly the point, which you obviously missed. Me stopping eating meat doesn't destroy an entire industry. 1 Billionaire changing their habits COULD help an entire country though. See the difference there my ignorant friend?

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Dale
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Money, like all things only has value based on availability. If we redistribute wealth evenly the cost of goods just goes up and the value of that dollar goes down

Mim Sörensson
Community Member
2 years ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Oh, I don’t know - I’d say they’re products of a sick, twisted system that not only allows mindless hoarding at others expense, but encourages it. I’m not sure you have to be evil, I think it might be enough to be truly indoctrinated. Or nearly enough, anyway.

Thomas Turnbull
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Billionaires like Bill Gates and his ex wife give billions to charities and Jeff Bezos gave 10 billion dollars towards climate change and his wife has given billions to charity. There are lots of Billionaires that help out so DON'T LUMP THEM AS ALL ONE GROUP.

raymond gabriel
Community Member
2 years ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

@don't forget about me! So many billionaires came from nothing. They worked their ass-out to earn their money. So if you are really concerned about helping the poor and stoping starvation. Work harder and become a billionaire so that you can show those moral monsters how to be charitable.

Jane Doe
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

After a certain amount of money, nobody cares about them. They don't hoard money anymore. it's the power that comes from controlling a huge amount of money that matters. So, it's not about money. It's about power.

Rabbit Lord
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Hey, at least some of these billionaires found companies to shoot People (primarily: them) right into heaven (or whatever that thing is called which starts around some hundred miles above earth' ground).

Rissie
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

There really is a misunderstanding here; they aren't hoarding it, society is handing it to them. Mostly investors hoping to make money of of it.

Cee Mor
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

None of them are really good but they spend a lot of time trying to convince us they are, so we don't kill them (think france)

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But what is the relationship between nepotism and sky-high fortune like that? Well, legally, the concerns surrounding it are few but not to be ignored. Tom Gies, a founding member of the labor and employment law practice at Crowell & Moring, says there's little out there to discourage nepotism—and nothing that explicitly forbids it.

However, trouble can arise if a company advertises a vacant job and then fills it with an employee's relative who clearly is less qualified than, say, a female or minority applicant. That can run up against the Civil Rights Act of 1964, which outlaws discrimination on the basis of race, color, sex, religion or national origin. But the solution is more than simple: if the job opening is never publicly advertised, it's almost impossible for anyone to cry foul over nepotism.

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#9

People-Roast-Self-Made-Millionaires-Nepotism

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Katy McMouse
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Every time I see Zuckerberg's photo, the first thing I think is "Damn. Someone needs to slip him some light colored contacts." Those dark eyeballs are like black holes to his soul.

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#11

People-Roast-Self-Made-Millionaires-Nepotism

hawillisdc Report

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Legen ( wait for it ) dary
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I'm poor because I don't have a Garage. My entire apartment have the size of ( insert the smallest size place in your house)

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#15

People-Roast-Self-Made-Millionaires-Nepotism

AoShin Report

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Florida, but without the beach
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I love that Donald trump isn’t on these lists, he got more money from his dad than most of these people and still couldn’t make the list!

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#17

People-Roast-Self-Made-Millionaires-Nepotism

BillNemacheck Report

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James016
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

There is a lot of words there to say that his rich family paid for it

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#18

People-Roast-Self-Made-Millionaires-Nepotism

EthicsInBricks Report

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Katy McMouse
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I'm a legacy admission - I was granted admission to the every day rat race, just like my parents and their parents and their parents' parents.

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#19

People-Roast-Self-Made-Millionaires-Nepotism

kalebhorton Report

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Jo Choto
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Oh, and also not spend any money on accommodation or food or anything else between now and having enough house money.

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#20

People-Roast-Self-Made-Millionaires-Nepotism

sohelpmegawd Report

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Davo gifman
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

My dad passed away; so all of our money is tied up in the afterlife market. An with my dad being a good man I'd like to think he's in heaven. An when I die...well I'm not so sure. So it looks like we will be diversifying our stock portfolio. No use in having all the deviled eggs in one basket. 😁🤪 yeah, yeah I'm leaving. 🤨 Well I know now; that it's not funny...🤣

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#22

People-Roast-Self-Made-Millionaires-Nepotism

OpusBitcoin Report

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Mtownmick
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Calvin and Hobbes. Calvin - "I have decided I am going to be rich". Dad: "You better start studying and work hard." Calvin " No, you should. I decided I am going to inherit it."

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#25

People-Roast-Self-Made-Millionaires-Nepotism

UssyBobs Report

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thatmagicgaychick
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Mazer- the economy is so fuckd up that a lot of people can't afford food and rent at the same time.

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#27

People-Roast-Self-Made-Millionaires-Nepotism

mayankbubna Report

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RedstonewolfX
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

This is the slowest way to become a millionaire. No billionaire would ever spend enough on anyone but themselves to drop below $1,000,000,000.

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#28

People-Roast-Self-Made-Millionaires-Nepotism

andykgreen Report

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#30

People-Roast-Self-Made-Millionaires-Nepotism

skyler__adams Report

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King Kashue
Community Member
2 years ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Shannon, you're full of s**t. Just so full of it. Yes, there are self-made millionaires, but that does not refute the lack of economic mobility in this country. When asked to estimate how many people born into the lowest quintile for income reach the top quintile during their lifetime guess 12%. In the Southeast (i.e., "The South") the guess is 20%. The reality? 7%. Americans as a whole over estimate by 50% and the most "Grab them boostraps, Johnny!" region guesses almost 3x too much. And the top quintile? That's not millions. That's not even 6 figures. That's roughly $65k a year. Any skilled tradesperson can make that. It's plumbers and carpenters and mechanics and unionized line workers, in addition to accountants and actuaries and insurance salespeople. We live in a country where, if you are born into poverty, you have only a 7% chance of ever making even $65k per year, and you're out here caping for millionaires and condemning folks for not working hard enough? What a colossal joke.

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#31

People-Roast-Self-Made-Millionaires-Nepotism

givemesamosa Report

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#32

People-Roast-Self-Made-Millionaires-Nepotism

derekroy100 Report

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DC
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2 years ago

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#33

People-Roast-Self-Made-Millionaires-Nepotism

HikeMector Report

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