Ninety percent of all millionaires become so through owing real estate.

According to a recent survey of millionaires done by US Trust, "83% of the wealthy say their largest investment gains have come from smaller wins over time rather than taking big risks.

So far so good. But the problem is, as in many dynamical systems, there are some delayed effects of such dynamics. ...Here are some numbers on the relative distribution of wealth in the American population. You have good data from 1983 to 2019... when we look at the percentage of households with [inflation adjusted in 1995 US dollars] net worth exceeding... Millionaires, roughly 10% of the population (7% now) increased from 3% to 7% but then growth in... classes such as decamillionaires was even more remarkable... more than fivefold, sixfold increase in the proportion of households that have 10 million dollars wealth, or more.

The Boston Consulting Group recently released a study showing that
there were 5.2 million households in America that could be classified
as millionaires.1 I would love to see a candidate for national office,
especially president, come out and announce that his platform was
squarely oriented toward creating wealth, that in 8 to 10 years we
would have 50 million millionaires in America.

A study of over seven hundred American millionaires showed their average college GPA was 2.9.

In a 2018 paper published by Harvard Business School professor Michael Norton, researchers asked a group of millionaires (1) how happy they were on a scale of 1 to 10 and (2) how much more money they would need to get to a 10 on the happiness scale. Commenting on the results, Norton said, "All the way up the income-wealth spectrum basically everyone says [they'd need] two to three times as much."[2]

Today, the richest 1 percent own half the world’s wealth. Even more alarmingly, the richest one hundred people together own more than the poorest four billion.

The rich individuals are increasingly hoarding everything. If the billionaires want to go to space, they could at least leave their money on Earth to solve the critical Earthbound problems. We now have an estimated 2,775 billionaires with a combined net worth of around $13.1 trillion. I have it on good authority that you don’t need more than $1 billion to live comfortably. Even if every billionaire kept $1 billion, that would leave around $10 trillion for ending hunger, poverty, and environmental destruction. We should be taxing the vast and rapidly growing billionaire wealth to help finance a civilized world.

The wealth that we have in this country is extraordinary. Last year, at the height of COVID, a billionaire was created every 17 hours. The average net worth increase by the billionaire community – that’s over 2,000 billionaires worldwide – was $5.2 billion per day... I need an additional $6 billion this year to reach the 41 million ... that are knocking on famine’s door... Let me tell you what will happen if I don’t reach those ... countries with that $6 billion. Yes, you’ll have starvation, mass starvation. You will have destabilization of nations. And you will have mass migration.... The price tag to fix it will not be $6 billion... It will be trillions of dollars.

One of the major, untold stories of our time is the rapid movement toward global oligarchy, in which just a handful of billionaires now own and control a significant part of the world economy. Here in the United States, the top one-tenth of 1% owns almost as much wealth as the bottom 90%. Incredibly, according to a recent report from the Institute for Policy Studies, three of the richest people in America – Bill Gates, Jeff Bezos and Warren Buffett – now own more wealth than bottom 160 million people in our country. But this is clearly not just an American issue. It is a global issue. While millions of people throughout the world live in dire poverty, without clean drinking water, adequate health care, decent housing, or education for their kids, the six wealthiest people in the world as ranked by Forbes Magazine own more wealth, according to Oxfam, than the bottom half of the world’s population, 3.6 billion people. This massive level of wealth and income inequality, and the political power associated with that wealth, is an issue that cannot continue be ignored. We must fight back.

Fair or not, boomers and the Silent Generation have about 70% of the country’s money, compared with about 5% for millennials. So if you want to push around Washington, or Wall Street, or your state capital, it helps to have some people with hairlines like mine.

For the 20-year period from December 31, 1993, to December 31, 2013, the S&P 500 returned 9.2% annually, but the average mutual fund investor averaged just over 2.5%, barely beating inflation.

If I was running $1 million today, or $10 million for that matter, I'd be fully invested. Anyone who says that size does not hurt investment performance is selling. The highest rates of return I've ever achieved were in the 1950s. I killed the Dow. You ought to see the numbers. But I was investing peanuts then. It's a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.

Between 2003 and 2012, S&P 500 companies spent 91 percent of their earnings on buybacks and dividends for shareholders. That leaves 9 percent to invest across the entire company, in everything from research and development to worker wages.