Self-Made Wealth or Family Wealth?: Changes in Intergenerational Wealth Mobility

The main question raised is, who becomes rich? Is there a class of wealthy property owners that is reproduced over generations? Or are the typical avenues into the highest echelons of wealth entrepreneurial activity or highly paid executive positions? Wealth mobility is examined using population data from Norway. The focus is on the top 1 percent and the top 0.1 percent of the wealth scale over a period of nearly two decades. The results show that recruitment into the top wealth groups is extremely restricted, and most so in recent years. Having wealthy parents, and especially top wealth origins, is important for wealth attainment. The very top wealth category appears to be a rentier class, with higher incomes from capital than from earnings.