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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

#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.

#5

People-Roast-Self-Made-Millionaires-Nepotism

SavageHuxley Report

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Jo Choto
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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.

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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
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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

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hawillisdc Report

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Legen ( wait for it ) dary
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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
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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
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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

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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
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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
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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
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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
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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

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andykgreen Report

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#30

People-Roast-Self-Made-Millionaires-Nepotism

skyler__adams Report

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King Kashue
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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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