How do rich people become rich? First Globals are the most likely of any generation to believe that rich people were born wealthy. Nearly two thirds (63.3%) of First Globals strongly or somewhat agree that “in the USA, more often than not, rich people were born rich.” By contrast, only 34.9% of those over 65 feel the same way, with other generations falling in the middle.
Economic mobility – the ability to go from poor to rich within one’s lifetime – is often held up as one of the ideals of the U.S. as well as one of the things that (supposedly) makes us different from other countries. But it seems that First Globals are less likely to believe that economic mobility is the primary reason why rich people are rich. Why might that be? And how do you think most wealthy people come by their money?