Octogenarians Rule the Rich: Wealthy Americans over 80 control more assets than those under 50.

[jmyrlefuller]

https://www.bloomberg.com/news/articles/2017-08-23/americans-over-80-own-a-big-share-of-the-nation-s-greatest-wealth

by Ben Steverman
August 23, 2017

Six of the 25 richest Americans are over 80, according to the Bloomberg Billionaires Index. Carl Icahn and Charles Koch, for example, are 81. Earlier this month, Sheldon Adelson turned 84 and George Soros hit 87. Warren Buffett, the fourth-richest person in the world, with a net worth of $77 billion, celebrates his 87th birthday next week.

New data from the Internal Revenue Service show just how old the top millionaires and billionaires in the U.S. are. While people over 80 make up only 3.7 percent of the population, the IRS estimates they control a larger share of the nation's top fortunes than people under 50.

(excerpt)

[Free Vulcan]

Not terribly surprising because they've obviously had more time to accumulate it.

Even so, try starting a business on a shoestring today. It's near difficult to impossible anymore, except for maybe software.