Economists Eric Zwick, Owen Zidar, and Danny Yagan have identified a significant class of wealthy individuals in the U.S. who are not the widely recognized billionaires but rather owners of closely held operating businesses. These "everywhere millionaires," defined as individuals with at least $5 million in net worth derived primarily from a single business, number around 3 million nationwide. Their collective wealth is substantial, estimated to be 13 times that of the Forbes 400, and they are disproportionately represented in American politics, influencing policy to maintain their advantageous financial structures. AI
RANK_REASON The item details research findings from economists about wealth distribution and its political implications. [lever_c_demoted from research: ic=1 ai=0.1]
- Central Connecticut State University
- Danny Yagan
- Dick Portillo
- Eric Zwick
- Forbes 400
- Internal Revenue Service
- Jeff Bezos
- Karen Bentlage
- Owen Zidar
- Planet Money
- Princeton University
- Stephen A. Schwarzman
- The Everywhere Millionaire
- United States Department of the Treasury
- University of California, Berkeley
- University of Chicago
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