UFE - Press Room: BORN ON THIRD BASE: The Sources of Wealth of the 1996 Forbes 400
United for a Fair Economy is a national, independent, nonpartisan organization that puts a spotlight on the dangers of growing income, wage and wealth inequality in the United States and coordinates action to reduce the gap.
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SUMMARY OF RESULTS
We examined both 1995 and recently released information about the 1996 Forbes list. The average of 1995 and 1996 results indicate that:
- 30.1% Started in the Batters Box -- includes individuals and families whose parents did not have great wealth or own a business with more than a few employees.
- 13.9% Born on First Base -- includes individuals whose biographies showed signs of a wealthy or upper class background, but did not apparently have assets of more than $1 million.
- 5.75% Born on Second Base -- members inherited a small company or wealth worth more than $1 million, but less than $50 million.
- 6.85% Born on Third Base -- includes people who inherited substantial wealth, in excess of $50 million, but not enough to qualify for membership in the Forbes 400.
- 43.35% Born on Home Plate -- includes those who inherited sufficient wealth to rank among Forbes 400.
