With the notable exception of Gina Rinehart, the ten richest women in the world all inherited their billions, while the ten richest people (all men) all earned their billions.  Yes, Rinehart did inherit her three-quarters of her father’s company, Hancock Prospecting, in 1992.  But she turned her $A75 million inheritance into the $A10B it is today.  That’s a 20+ percent annual return for 25 years!

The other nine — not so much.  There is nothing wrong with inherited wealth.  The idea of leaving something for our children and grandchildren drives many of us to work and save and invest.  But inheriting wealth and creating wealth (even with the intention of passing it on to your heirs) do not benefit the world the same way.  Creating wealth for oneself invariably requires that one create wealth for others, too.