On a past episode of "The Joe Rogan Experience," Joe Rogan and his guest, VICE Media co-founder Shane Smith, discussed wealth inequality. Rogan brought up a widely shared but flawed statistic – that 80% of the world's wealth is inherited.
"That's how you make monsters," Rogan said, explaining that passing wealth down for generations creates a cycle where some people are born rich while others never get a fair shot. He also pointed out that inherited wealth doesn't guarantee financial responsibility, meaning some of the world's wealthiest individuals may not be the best stewards of their fortunes.
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Though exact numbers vary, research supports the idea that inherited wealth plays a huge role in global inequality. According to intelligence firm Wealth-X, around 10.2% of billionaires inherited their entire fortune, while nearly 30% combined inheritance with their own efforts.
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Disclaimer: Some elements of this story were previously reported by Benzinga and have been updated.
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