Back in October the media was gloating that Donald Trump dropped an incredible 92 spots on the Forbes annual ranking of the 400 richest Americans. In 2016 he was the 156th richest American with a net worth of $3.7 billion, but in 2017 he was the 248th richest American with $3.1 billion. New York’s sinking real estate market combined with the fact that his polarizing politics has tarnished his brand with the very elites his buildings and golf courses target, may help explain this setback.
Of course we shouldn’t feel too sorry for the Donald. After all, he’s still the only person in history to get to be both a billionaire and the President.
You now need an astonishing $2 billion just make last place on the Forbes 400. A billion dollars is no longer enough to be super rich in America. When the list was started back in 1982, only $100 million was enough to qualify.
Despite the fact that Jews are only 2% of America, they’re an astonishing 50% of the ten richest Americans in 2017:
I estimate that self-made members of the top 10 average incredibly high IQs (150), while self-made members near the bottom of the list are probably in the low 130s, while those who merely inherited their way on to the list probably average around 115. It’s ironic that old money looks down at new money, when new money is so much smarter.
Despite the fact that blacks are 13% of America, they are only 0.5% of the Forbes 400 (Oprah and private equity mogul Robert Smith, each worth over $3 billion). I don’t think there’s ever been more than two blacks on the Forbes 400 at any given time. Way back in 1986 there was also only two blacks on the list (John Harold Johnson, the Chicago publisher of Ebony magazine worth $185 million, and Motown Records’ Berry Gordy, worth $180 million). Yet another example of how little progress blacks have made in the last several decades, and while some might argue that ethnic wealth gaps can be explained by ethnic IQ gaps, the genetic component of race IQ gaps are too small to fully explain such huge disparities.
Blacks were forced to work without pay in America for hundreds of years and even after slavery ended, they endured another 90 years of Jim Crowe, and in the 1990s their communities were further devastated by mass incarceration, and then were devastated again by mass illegal immigration. And while affirmative action opened up a few doors for blacks, it was nowhere near enough to compensate for centuries of structural inequality, causing many blacks to now call for reparations.
If reparations are given, DNA tests should determine how much black slave blood each American has. Even though Oprah’s a multibillionaire, she should be given more reparations than the average black American, because the average black American is only 75% black slave, while Oprah’s DNA is 89% black slave.