09/23/2026
🛠️ The richest person in your town probably isn't a tech founder or someone in finance. It's more likely the dentist running four offices, or the owner of the HVAC company whose trucks are everywhere.
New research from economists Owen Zidar and Eric Zwick, based on IRS and Treasury data, found nearly 5 million U.S. households worth at least $5 million, holding combined wealth more than 13 times that of the Forbes 400.
A few patterns stood out:
➡️Most started their business themselves rather than inheriting it
➡️Most run ordinary, brick-and-mortar businesses rather than tech or finance
➡️Independence mattered more to them early on than getting rich ever did
🌠Case in point: Dick Portillo started a hot dog stand in 1963 with just $1,100. Decades later, he sold the business he'd built for $1 billion.
Building wealth often looks much more ordinary and attainable than the headlines suggest. If growing or eventually stepping back from a business is part of your picture, that's worth talking through together.
Getting rich in the U.S. is still possible, but the most common path to wealth doesn't involve working for other people, according to a new book.
