{
  "id": 16171111,
  "title": "These ‘everywhere millionaires’ reveal a hidden engine of American wealth",
  "url": "https://urgent.news/2026/10/23/these-everywhere-millionaires-reveal-a-hidden-engine-of-american",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-23T08:00:00.000Z",
  "source": {
    "name": "Fast Company",
    "slug": "fast-company",
    "url": "https://www.fastcompany.com/91627774/everywhere-millionaires-hidden-engine-american-wealth"
  },
  "original_language": "en",
  "account": "Princeton University economist Owen Zidar and University of Chicago Booth School of Business finance professor Eric Zwick reveal the true faces of American wealth in their book, \"The Everywhere Millionaire.\" The authors spent over a decade analyzing anonymized tax data to expose the hidden engine behind the nation's wealth. Contrary to popular belief, the richest Americans aren't all tech founders, celebrities, or Wall Street titans. Instead, millions of entrepreneurs have quietly amassed vast fortunes by owning ordinary private businesses, such as car dealerships, garage-door companies, and beverage distributors. These \"Everywhere Millionaires\" hold more than 13 times the wealth of the Forbes 400, with each averaging around $25 million in net worth. They live in diverse locations across the country, including small towns like Dothan, Alabama, and Fort Wayne, Indiana. The rise of pass-through businesses, which now account for 95% of all businesses in America, has significantly contributed to the wealth of this group since the 1980s. These entrepreneurs, who are often overlooked in discussions about American wealth, are politically influential, holding congressional seats at roughly 10 times their share of the population and impacting policy decisions in ways that most people don't fully appreciate.",
  "summary": "Below, Owen Zidar and Eric Zwick share five key insights from their new book, The Everywhere Millionaire: Who Is Really Rich in America and How They Got There . Owen is a professor of economics and public affairs at Princeton University. Eric is a professor of finance and economics at the University of Chicago Booth School of Business. Together, they spent more than a decade analyzing anonymized…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}