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Dear John,
Why do we glorify “self-made” billionaires like Jeff Bezos and Elon Musk?
Well, being “self-made” is a seductive idea — it suggests that anybody can get to the top if they're willing to work hard enough. It’s what the American Dream is all about.
But unfortunately, as our most recent video explains, a nice idea is all it is. Self-made billionaires are a myth.
The origins of self-made billionaires are often depicted as a “rags-to-riches” rise to the top fueled by nothing but personal grit and the courage to take risks — like dropping out of college, or starting a business in a garage.
But in reality, the origins of many billionaires aren’t so humble. They’re more “riches-to-even-more-riches” stories, rooted in upper-middle class upbringings.
Even worse, many of America’s richest maintain their wealth by dodging taxes and building their coffers off the backs of others. Watch our video to learn more about how the 1% pull all sorts of tricks to preserve their money — and their power.
Ultimately, portraying themselves as rugged individuals who overcame poverty or “did it on their own” remains an effective propaganda tool for the ultra-wealthy. One that ultimately distracts from the role that billionaires play in fostering poverty in the first place.
Billionaires are not made by rugged individuals. They’re made by policy failures. And a system that rewards wealth over work.
Know the truth — and share it with whomever you think needs to hear it.
Educating our peers is just one way we can fight back together!
Thanks for watching,
Robert Reich
Inequality Media
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