How People Get Rich Now
April 2021 Every year since 1982, Forbes magazine has published a list of the richest Americans.
2021 年 4 月 自 1982 年以来，《福布斯》杂志每年都会发布美国富豪榜。
If we compare the 100 richest people in 1982 to the 100 richest in 2020, we notice some big differences.
如果我们将 1982 年的 100 位最富有的人与 2020 年的 100 位最富有的人进行比较，我们会发现一些很大的差异。
In 1982 the most common source of wealth was inheritance.
1982年，最常见的财富来源是继承。
Of the 100 richest people, 60 inherited from an ancestor.
在100名最富有的人中，有60人是从祖先那里继承的。
There were 10 du Pont heirs alone.
仅杜邦家族就有十位继承人。
By 2020 the number of heirs had been cut in half, accounting for only 27 of the biggest 100 fortunes.
到 2020 年，继承人的数量已减少一半，仅占 100 名富豪中的 27 人。
Why would the percentage of heirs decrease?
为什么继承人的比例会下降？
Not because inheritance taxes increased.
并不是因为遗产税增加了。
In fact, they decreased significantly during this period.
事实上，在此期间，它们显着下降。
The reason the percentage of heirs has decreased is not that fewer people are inheriting great fortunes, but that more people are making them.
继承人比例下降的原因并不是继承巨额财富的人越来越少，而是创造财富的人越来越多。
How are people making these new fortunes?
人们如何创造这些新财富？
Roughly 3/4 by starting companies and 1/4 by investing.
大约 3/4 来自创办公司，1/4 来自投资。
Of the 73 new fortunes in 2020, 56
2020年的73位新富中，有56位
derive from founders' or early employees' equity (52 founders, 2 early employees, and 2 wives of founders), and 17 from managing investment funds.
来自创始人或早期员工的股权（52 名创始人、2 名早期员工和 2 名创始人妻子），17 名来自管理投资基金。
There were no fund managers among the 100 richest Americans in 1982.
1982年美国100名最富有的人中没有基金经理。
Hedge funds and private equity firms existed in 1982, but none of their founders were rich enough yet to make it into the top 100.
对冲基金和私募股权公司早在 1982 年就已经存在，但它们的创始人都没有足够富有，无法跻身前 100 名。
Two things changed: fund managers discovered new ways to generate
有两件事发生了变化：基金经理发现了新的创收方式
high returns, and more investors were willing to trust them with their money.
高回报，更多投资者愿意将资金托付给他们。
[ 1 ] But the main source of new fortunes now is starting companies, and when you look at the data, you see big changes there too.
[1]但是现在新财富的主要来源是创办公司，当你看数据时，你也会看到那里发生了很大的变化。
People get richer from starting companies now than they did in 1982, because the companies do different things.
现在，人们通过创办公司变得比 1982 年更富有，因为这些公司做的事情不同。
In 1982, there were two dominant sources of new wealth: oil and real estate.
1982年，新财富有两个主要来源：石油和房地产。
Of the 40 new fortunes in 1982, at least 24 were due
1982 年的 40 笔新财富中，至少有 24 笔到期
primarily to oil or real estate.
主要是石油或房地产。
Now only a small number are: of the 73 new fortunes in 2020, 4 were due to real estate and only 2 to oil.
现在只剩下一小部分了：2020年新增的73笔财富中，有4笔来自房地产，只有2笔来自石油。
By 2020 the biggest source of new wealth was what are sometimes called "tech" companies.
到 2020 年，新财富的最大来源是有时被称为“科技”的公司。
Of the 73 new fortunes, about 30 derive from such companies.
在这 73 笔新财富中，约有 30 笔来自此类公司。
These are particularly common among the richest of the rich: 8 of the top 10 fortunes in 2020 were new fortunes of
这些在富人中尤其常见：2020 年财富前 10 名中，有 8 人是新财富
this type.
这种类型。
Arguably it's slightly misleading to treat tech as a category.
可以说，将科技视为一个类别有点误导。
Isn't Amazon really a retailer, and Tesla a car maker?
难道亚马逊真的是一家零售商，而特斯拉不是一家汽车制造商吗？
Yes and no. Maybe in 50 years, when what we call tech is taken for granted, it won't seem right to put these two businesses in the same category.
是和不是。也许50年后，当我们所谓的科技被认为是理所当然的时候，将这两个业务归为同一类别似乎就不合适了。
But at the moment at least, there is definitely something they share in common that distinguishes them.
但至少目前，他们肯定有一些共同点来区分他们。
What retailer starts AWS?
哪家零售商启动了 AWS？
What
什么
car maker is run by someone who also has a rocket company?
汽车制造商是由同时拥有火箭公司的人经营的？
The tech companies behind the top 100 fortunes also form a well-differentiated group in the sense that they're all companies that venture capitalists would readily invest in, and the others mostly not.
财富百强背后的科技公司也形成了一个差异化的群体，因为它们都是风险资本家愿意投资的公司，而其他公司大多不愿意投资。
And there's a reason why: these are mostly companies that win by having better technology, rather than just a CEO who's really driven and good at making deals.
这是有原因的：这些公司大多是通过拥有更好的技术而获胜，而不仅仅是真正有动力且擅长达成交易的首席执行官。
To that extent, the rise of the tech companies represents a qualitative change.
从这个意义上说，科技公司的崛起代表着质变。
The oil and real estate magnates of the 1982 Forbes 400 didn't win by making better technology.
1982 年福布斯 400 强中的石油和房地产巨头并不是通过制造更好的技术而获胜的。
They won by being really driven and good at making deals.
他们通过真正的动力和善于达成交易而获胜。
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