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SECOND THOUGHT
The myth of the self made billionaire
[Music] this episode and others like it are made possible by the generous support of my patrons if you'd like to help support this channel and get early access to every video consider becoming a patron at patreon.com second thought big news on Rihanna the superstar singer and entrepreneur gaining a new title billionaire chief business correspondent Rebecca Jarvis joins us with more on the talented media moguls incredible journey good morning Rebecca good morning robin yeah this is a great story a fun one women entrepreneurs and founders business leaders they are moguls they are creating businesses they are disrupting industries and Rihanna is among them she can now add billionaire to the top of her titles list here in the united states we'll often hear stories like these it's no secret that Americans love to hear about billionaires you'll find them everywhere they're on the news have their own tv shows movies and even make their way into elected office specifically we consistently give massive audiences to self-made billionaires the people who unlike the aristocrats and monarchs of yore didn't simply inherit their wealth in this episode we're talking about the obsession with so-called self-made billionaires how misleading that term can be and everything wrong with the myth of the self-made person at the heart of every favorable depiction of a billionaire is this idea that they have earned their success and their wealth the most compelling stories are those of billionaires who through sheer hard work and grit so we're told have conquered the American dream and made a better life for themselves those around them and our society as a whole but there are a number of reasons this is simply incorrect we'll get to exactly how this idea is wrong in a second but first we should talk about why the myth of self-made billionaires is such a problem for starters vanishingly few people ever become billionaires in the United States it's around 600 people or 0.0002 percent of the population perversely .
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