In 1982, 9 of the 14 biggest fortunes in America were inherited, and 11 of 14 derived from oil, including all 9 of the inherited ones. In 2020, 3 were inherited, and 10 of the 14 derived from tech companies.
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So roughly speaking, the richest Americans in 1982 had inherited money made from extracting natural resources, and those in 2020 had made money creating new technology.
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(The reason the cutoff is at 14 is that the 1982 Forbes 400 was not as high resolution as it is today. There was a 12-way tie for 3rd place.)
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Does that mean that tech industry wealth is not evenly distributed and should re-distributed/taxed?
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1982 - Oil Mining 2020 - Data Mining
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Cooler than the other side of the pillow
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Tech is the new oil
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Awesome! Another interesting fact: There are 7 black billionaires in the US. All self-made. There are 7 billionaires in the US named Walton, all of whom inherited their money and the poorest of whom is wealthier than the wealthiest black American.
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Is data a natural resource
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