Family, Education, and Sources of Wealth among the Richest Americans, 1982-2012

American Economic Review · 2013 · Volume 103 · Issue 3

Abstract

We examine characteristics of the 400 wealthiest individuals in the United States over the past three decades as tabulated by Forbes Magazine, and analyze which theories of increasing inequality are most consistent with these data. The people of the Forbes 400 in recent years did not grow up as advantaged as in decades past. They are more likely to have started their businesses and to have grown up upper-middle class, not wealthy. Today's Forbes 400 were able to access education while young, and apply their skills to the most scalable industries: technology, finance, and mass retail. Most of the change occurred by 2001.

Keywords

Household Production and Intrahousehold Allocation, Education and Research Institutions: General, Marriage, Marital Dissolution, Family Structure, Domestic Abuse, Human Capital, Skills, Occupational Choice, Labor Productivity

Enable JavaScript for citation tools and additional paper interactions.