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importantbrian | 1 year ago

The real problem with those lists is that they only include people whose wealth is known and can be reasonably valued based on public sources. It's often not easy to trace the net worth of old-money families. It also means you won't find people from countries with very low transparency or dictators on the list. For example, you won't find Putin or any of the Saudi royals on the Forbes list even though they are among the wealthiest people in the world. Perhaps even competing for #1 depending on what estimate of their wealth you find to be the most reliable.

It's impossible to draw any firm conclusions from those lists because they aren't representative samples of wealthy people. They're a sample of wealthy people with public assets, and of course that's going to skew heavily towards people who founded large publically traded companies who live in countries with high degrees of financial transparency.

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secstate|1 year ago

Which makes one feel even shittier when you realize that even with that skewing, the list STILL contains a lot of inherited-wealth or comfortable-highly-educated-wealth people.