America's Real 1% Has Nothing to Do With Silicon Valley or Wall Street
The wealthiest people in America aren't who you think they are. Together, they have more net worth than the Forbes 400 by a factor of 10 — and almost no one has heard of them.
The Everywhere Millionaire, a new book by Eric Zwick, a Professor of Economics and Finance at the University of Chicago Booth School of Business, challenges the popular narrative that massive wealth in America is concentrated in Silicon Valley or Wall Street. Through a decade of research, Zwick uncovered a hidden 1% of America's real wealthy, consisting of regional business owners, pass-through entity founders, and Main Street entrepreneurs who have built generational fortunes away from the spotlight.
These individuals, whose net worth collectively surpasses the Forbes 400 by an order of magnitude, defy the stereotype that wealth creation requires starting a tech giant or managing a hedge fund.
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