All 15 Billionaires Under 30 Have Inherited Their Wealth

Thursday, April 04, 2024

Research by Forbes magazine found there were 15 billionaires aged 30 or under but that none had created their own wealth, instead benefitting from huge inheritances.

Posted by snoofy at 08:30 PM | 50 COMMENTS | permalink | Comment on This Entry |

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No way! Just so shocked about this.

Many of the older billionaires who have been quoted on the subject have said that either their inheritances were the basis of their wealth, or that they were able to take risks that others could not because they had that insurance.

Most also admitted that luck was a primary factor.

Of course, Don Whine did it all himself, right?

It's always been pretty obvious that the reason that poor rwingers don't want their wealthy masters taxed appropriately is that they KNOW that they too will be rich someday as they have been told, and they don't want to pay high taxes when that are, rofl.

#1 | Posted by Corky at 2024-04-03 10:34 PM | Reply | Newsworthy 1

No ----

#2 | Posted by Nixon at 2024-04-04 07:01 AM | Reply | Newsworthy 4

The self myth billionaire is just that...a myth.

Bezos, Gates, Buffet, Musk, etc all had very upper class upbringings with parents who either funded them or had political and corporate connections that made their success possible.

None of them made it on their own and in all cases relied on the labor of workers to get to where they are.

#3 | Posted by Nixon at 2024-04-04 07:33 AM | Reply | Newsworthy 4

Even if true, so what!

#4 | Posted by MSgt at 2024-04-04 09:32 AM | Reply

"Even if true, so what!"

Then we won't hear you whining about "the debt, the debt, the debt? It is a provable fact that our debt is a direct result of massive tax cuts for the 1% and these billionaires are definitely members of the 1%.

#5 | Posted by danni at 2024-04-05 08:26 AM | Reply | Funny: 1 | Newsworthy 2

Even if true, so what!

#4 | POSTED BY MSGT AT 2024-04-04 09:32 AM | FLAG MEH

You are correct in as much as life is a crap shoot and you get what you get when you get it. Furthermore, 99.90% of the people on the planet are simply grubs eating the leftovers... and that is what they (we) will ever be.

Frankly, I can deal with that. Looking over my life I've never made a lot of money but still managed to eke out all I sincerely wanted thus far. I am surprised about how it looks when the things I once saw as out of reach are mine to enjoy. My life is elevated from my origins and while light years away from rich I have known several very wealthy people. I recall being inside their homes and feeling as if I were in a museum. All the things around me in those lavish homes. I could look but never have as my own. I was okay with that.

When I ask myself what I would have done if I were born into such wealth. What I've wanted to do I am is probably not much different from what I have done. Perhaps I lack enough imagination in the things I desire to "become" that wealthy. I don't want enough.

Moses and Gautama Buddha left behind their billionaire existence. They aren't alone. They accomplished something big that brings in a lot of money... for centuries... but most don't. I got to know uber-wealthy people via friends from rich families who left the life and never amounted to much. So it's a temperament I guess.

What I do find disturbing is how some people feel as though people like me are trying to keep them from joining the billionaires club by something I think would benefit all. For example, taxing the uber-wealthy to the extent that they pay for the infrastructure to support their wealth-building enterprises... which they are currently refusing to do. They expect us to do the labor and pay for the infrastructure too... all the while bawling about how the "stock-holders" who aren't lifting a finger to earn that money are being short-changed. It's another entitlement welfare system... and why the whining about SocSec irks me so. It's sosdd.

Alas I wax philosophical. Life really is a crap shoot.

#6 | Posted by RightisTrite at 2024-04-05 10:50 AM | Reply | Funny: 1 | Newsworthy 2

Here's hoping that all of these folks get the same bug that bit Mackenzie Scott, who has given away about $15B of her wealth, from her settlement with her ex, Jeff "Rocket Man" Bezos. Having a lot of money must be great. Giving away a large amount of it must be even greater...

#7 | Posted by catdog at 2024-04-05 02:12 PM | Reply | Newsworthy 1

Does it pxss anyone else off to see this administration giving away your hard earned tax money to NGO cronies and big shots to pay wealthy hotels at full rate to house illegal immigrants and to countries that are wealthier and less in debt (Israel etc) than our own? They do this while Americans that are often struggling with multiple jobs, non college educated, without tuition forgiveness are working their axx off to feed this BS scam.

Hard working Americans deserve to be paid cash before paying the thieves in govt who will skim their taxes and steal tax money to feed crony NGOs and foreigners. Too many big corps and billionaires that do questionably little have accumulated too much money and contribute too litte to make us better.

#8 | Posted by Robson at 2024-04-05 03:04 PM | Reply | Funny: 1 | Newsworthy 1

LMAO... rwingers are SO thrilled that Trump gave tax cuts to himself and his cronies paid for by increased Deficit Spending... that they want him back to do it again!

"Of the $8.4 trillion President Trump added to the debt, $3.6 trillion came from COVID relief laws and executive orders, $2.5 trillion from tax cut laws, and $2.3 trillion from spending increases, with the remaining executive orders having costs and savings that largely offset each other," budget experts with the CRFB wrote in a summary of the report."

thehill.com

#9 | Posted by Corky at 2024-04-05 03:13 PM | Reply | Newsworthy 2

Giving away a large amount of it must be even greater...
#7 | POSTED BY CATDOG

They don't give it away for free.

They get power in return.

Only donors I would respect are anonymous.

#10 | Posted by oneironaut at 2024-04-05 04:30 PM | Reply | Funny: 1

America has a spending problem, not a revenue problem.

#11 | Posted by oneironaut at 2024-04-05 04:31 PM | Reply | Funny: 1 | Newsworthy 1

Yeah.... and in particular deficit spending for tax cuts.

You do know that you aren't required to post when you have nothing to say, right?

#12 | Posted by Corky at 2024-04-05 05:02 PM | Reply

#12

This is a lie.

Revenues as % of gdp hasn't changed much in 40, years.

Spending on the other hand is going nonkinear, even without cost of servicing the debt.

Blaming taxes and tax cuts is ridiculous for the spending issue.

#13 | Posted by oneironaut at 2024-04-05 05:27 PM | Reply | Newsworthy 1

You do know that you aren't required to post when you have nothing to say, right?
#12 | POSTED BY CORKY

You should heed your own words.

#14 | Posted by oneironaut at 2024-04-05 05:28 PM | Reply

Pick your magical tax period... Didn't change the percentages.
fred.stlouisfed.org

#15 | Posted by oneironaut at 2024-04-05 05:30 PM | Reply

Spend more as percentage of GDP than any other G7 nation
www.statista.com

#16 | Posted by oneironaut at 2024-04-05 05:37 PM | Reply

Deficit spending for tax cuts was the subject of my post.

Though, context has never been your strong point... if you actually ever have one.

#17 | Posted by Corky at 2024-04-05 05:41 PM | Reply

Read it and weep, IAMRUNT.

www.commondreams.org

#18 | Posted by reinheitsgebot at 2024-04-05 05:43 PM | Reply | Newsworthy 3

I never agreed with all of the Trump tax cuts but at least most went to American citizens. They should have been given only to business that promoted American jobs and now to reduced inflation.
Biden is giving away what will inevitably be trillions of our ever increasing debt and diminishing treasury to uninvited illegal welfare need seeking foreign nationals and NGOs that always profit on the backs of all this.

#19 | Posted by Robson at 2024-04-05 07:04 PM | Reply | Funny: 1

Capitalism = fascism.

#20 | Posted by tres_flechas at 2024-04-05 07:41 PM | Reply

Capitalism = fascism.
#20 | POSTED BY TRES_FECES

Your math is incorrect.

The world was raised out of poverty due to capitalism.

Not government taxation.

Too much taxation is fascist, authoritarian, and oppressive.

#21 | Posted by oneironaut at 2024-04-05 07:55 PM | Reply | Funny: 3

They should have been given only to business that promoted American jobs and now to reduced inflation.
- Robson

Nah, all Americans should have been given a reduction.

Yet at the same time the SALT cap was a thing of genius.

And yet Lumpers here proclaimed it was targeting Blue States.

They are inconsistent, and hypocritical.

#22 | Posted by oneironaut at 2024-04-05 07:58 PM | Reply

- to uninvited illegal welfare need seeking foreign nationals

Immigrants, legal or otherwise, are and always have been a net plus to the US economy, and are one of the reasons our economy is booming today.

www.carnegie.org

flaglerlive.com

#23 | Posted by Corky at 2024-04-05 09:17 PM | Reply

They are inconsistent, and hypocritical.

#22 | POSTED BY ONEIRONAUT AT 2024-04-05 07:58 PM | REPLY | FLAG:AHEM

The BLUE states are the wealth creators sooooo... errmmm... yeah they have a reason. People living Red states don't produce enough whatever to accrue wealth and therefore depend on government subsidies... with money provided byyyyyy... caaaaaa-chingBLUE states.

Red states overrate their contribution to the general welfare of the nation. Red state people are frustrated with themselves and want to take it out on the rest of the county because the products they produce aren't bringing in the bacon... and when they finally do... it's because they've turned BLUE

#24 | Posted by RightisTrite at 2024-04-05 09:43 PM | Reply

The world was raised out of poverty due to capitalism.

#21 | POSTED BY ONEIRONAUT AT

Says who?

#25 | Posted by tres_flechas at 2024-04-05 10:55 PM | Reply

The world is in poverty because of capitalism.

Full stop.

#26 | Posted by tres_flechas at 2024-04-05 10:56 PM | Reply

BTW, #21, have you helped your worthless assed kid make up anymore excuses for her impending failure?

It seems like neither of you are comfortable with her ability to compete.

What gives?

#27 | Posted by tres_flechas at 2024-04-05 11:00 PM | Reply

BTW, #21, have you helped your worthless assed kid make up anymore excuses for her impending failure?

It seems like neither of you are comfortable with her ability to compete.

What gives?

#27 | POSTED BY TRES_FECES

What jibberish are you going on and on about?

Talk, write like a man, say what you mean, use your words.

#28 | Posted by oneironaut at 2024-04-05 11:15 PM | Reply

The world is in poverty because of capitalism.

Full stop.

#26 | POSTED BY TRES_FLECHAS

You have no clue about capitalism or poverty.

Its decreased drastically in the last 50yrs, thanks to America and its spread of capitalistic ideas that crept through out the rest of the world. Especially into China my home country.

Capitalism and Democracy are the greatest "inventions" of mankind.

#29 | Posted by oneironaut at 2024-04-05 11:17 PM | Reply

The world was raised out of poverty due to capitalism.

Yet. Without socialism capitalism would have died.

Socialism has bailed out the failures of capitalism. Several times.

#30 | Posted by ClownShack at 2024-04-05 11:19 PM | Reply

Says who?

#25 | POSTED BY TRES_FLECHAS

Says the 1 Billion Chinese.

And Bono of U2 : I thought that if we just redistributed resources, then we could solve every problem. I now know that's not true. The off-ramp out of extreme poverty is, ugh, commerce, it's entrepreneurial capitalism.

#31 | Posted by oneironaut at 2024-04-05 11:21 PM | Reply

Without socialism capitalism would have died.
Socialism has bailed out the failures of capitalism. Several times.

#30 | POSTED BY CLOWNSHACK

You can't even define socialism.

#32 | Posted by oneironaut at 2024-04-05 11:21 PM | Reply

Deflection all you got?

#33 | Posted by ClownShack at 2024-04-05 11:22 PM | Reply

Democrats love the idea of taking as much of this money as they can from the individual; because for whatever reason they think blowing out the debt is somehow a good idea to help fund their bloated welfare state in which no one works.

Instead of outright theft, the government should spend responsibly. There should be caps on who is actually allowed to partake in the welfare system (example a severely disabled person and senior citizens). Welfare queens and meth-heads shouldn't be receiving a dime of the rest of our collective hard work. The government should reinforce the tax incentive structure of marriage (instead of the single mom system Dems have created) where government has become "daddy."

Just remember, we only have the cultural wrought and decline that we have now thanks to Democrat "tolerance" towards an abandonment of common sense and quite frankly we as a society deserve this for allowing it to happen.

#34 | Posted by Bluewaffles at 2024-04-06 09:01 AM | Reply | Funny: 1

"Democrats love the idea of taking as much of this money as they can from the individual;"

this time of the year I add up my federal, state, FICA, property taxes and I wonder how true that is.....

But that notion doesn't sell well.

#35 | Posted by eberly at 2024-04-06 09:55 AM | Reply

Capitalism and Democracy are the greatest "inventions" of mankind.

#29 | POSTED BY ONEIRONAUT

Why thank you Comrade!

Now ... How much do we owe you for that ?

Do you need a fighter jet or a tank or maybe some ammo? How about a good movie? We have lots of those, too.

#36 | Posted by donnerboy at 2024-04-06 10:34 AM | Reply

#36

Drink your coffee, I didn't claim to invent them.

They are western ideas.

Good thing you have weapons of war, countries are trying to take what capitalism and democracy have produces.

But the US can't even defend its own border.

#37 | Posted by oneironaut at 2024-04-06 10:45 AM | Reply

But the US can't even defend its own border.

#37 | POSTED BY ONEIRONAUT

Sure we can. Tell your handlers that and let them attack one of our borders.

I dare you. I double dog dare you. Hell, I triple dog dare you!

America will never be defeated by being physically attacked at the border. Any border. If we are ever defeated it will be from the inside. And it will be us that defeats us.

"We have met the enemy and it is us!" (Pogo)

And China and Russia have figure this out and are purposely sowing disinformation with the goal of undermining and bringing down democracy from the inside. And Trumpy is betting on that and is purposely using it to drive a wedge between us creating chaos and division for his own evil purposes.

And we as a nation are still coming to grips with all of that. Only time will tell if we can overcome and survive this tragic episode in the life of our Republic.

#38 | Posted by donnerboy at 2024-04-06 11:10 AM | Reply | Newsworthy 2

"Drink your coffee, I didn't claim to invent them."

No one said you did.

But you did give us a backhanded compliment.

I was only thanking you for spreading the "proper" propaganda for once.

You sure you don't want a biscuit or something?

#39 | Posted by donnerboy at 2024-04-06 11:21 AM | Reply

-But you did give us a backhanded compliment.

That's your self victimization talking.

#40 | Posted by eberly at 2024-04-06 01:52 PM | Reply

That's your self victimization talking.

#40 | POSTED BY EBERLY

Sure it is.

Oh Poor me!

I am such a "victim" of Capitalism and Democracy!

Or are you trying to imply I am a victim of myself?

Hard to tell what you are swinging your purse at today.

#41 | Posted by donnerboy at 2024-04-06 02:22 PM | Reply

-I am such a "victim" of Capitalism and Democracy

No, you're definitely a beneficiary of that.

But you're a victim of backhanded comments.

#42 | Posted by eberly at 2024-04-06 02:51 PM | Reply

But you're a victim of backhanded comments.

#42 | POSTED BY EBERLY

CORRECTION: "imaginary backhanded comments."

#43 | Posted by oneironaut at 2024-04-06 03:08 PM | Reply

Democrats love the idea of taking as much of this money as they can from the individual;
#34 | POSTED BY BLUEWAFFLES

You're clearly unaware how one becomes a billionaire.

It's not by paying your employees a fair share.

Thanks for, as always, wearing your ignorance on your sleeves.

It's obvious you can't comprehend how much a billion dollars is.

Also. Pretty sure you're fine with exploiting people. It's what makes you a deplorable Trumping MAGAt.

#44 | Posted by ClownShack at 2024-04-06 03:27 PM | Reply

But the US can't even defend its own border.
#37 | POSTED BY 1LUMPER2

The border is secure.

Sell your xenophobic propaganda to the conservatives.

They're the ones trying their hardest to throw people like you out of the country.

#45 | Posted by ClownShack at 2024-04-06 03:32 PM | Reply

CORRECTION: "imaginary backhanded comments."

#43 | POSTED BY ONEIRONAUT

It was freakin compliment for saying something nice about America.

Or perhaps I just "imagined" that Capitalism and Democracy are the greatest "inventions" of mankind was a compliment.

Nice going deplorables. You should have taken the compliment. That's the last time I ever attempt to say nice things about you.

I should have known better.

#46 | Posted by donnerboy at 2024-04-06 04:03 PM | Reply

Capitalism will destroy our world.

Infinite growth is Cancer.

Infinite growth + infinite Selfishness= Ecological Collapse.

The Maya's, the ancient Sumerians,the Ankor Wat. All fell to This.

The difference is that today the collapse will be global,not local, and there are Nukes waiting for the opportunity to be used by desperate men.

I really don't see a solution to this problem.

Endless growth to sustain the system means War over resources as that becomes impossible in some areas.

The haves, have Nukes, but that won't save them.

Nukes can't be used without destroying the Biosphere....

Endless wars of competition for resources to maintain extravagant lifestyles in the Global North will cause a resurgence of Imperialism and colonial extraction. This will ultimately lead to collapse of the economic and natural systems that maintain our civilization.

But at least a few people got Stinking Rich and aspired to be as God's...

So it was All worth it.

To Them.

#47 | Posted by Effeteposer at 2024-04-06 04:03 PM | Reply

-That's the last time I ever attempt to say nice things about you.

More self pity.

#48 | Posted by eberly at 2024-04-06 05:44 PM | Reply

"I really don't see a solution to this problem."

To the prognostication you made?

Complete Armageddon?

Me neither.

LOL

#49 | Posted by eberly at 2024-04-06 05:46 PM | Reply

Thoughts and prayers!

#50 | Posted by oneironaut at 2024-04-06 06:33 PM | Reply