What is a Self Made Score?
Back in 2014, Forbes came up with a scoring system that ranked members of the Forbes 400 list of richest Americans in terms of how SELF-MADE they were. They started giving each member of The Forbes 400 a score on a scale from 1 to 10 to acknowledge that some individuals have traveled further in their entrepreneurial journey to make it to the top and the Self Made Score was created to capture just how self-made they really are. "Someone who built a company or established a fortune on his/her own, rather than inheriting some or all of it."
A 10 is reserved for those on the list who not only grew up very poor but had to overcome serious obstacles in their accent to the top, such as Oprah Winfrey, who was born to a single teen mother and was sexually abused as a child. Other household names like Mark Zuckerberg and Bill Gates, who came from middle- or upper-middle class families, both receive a rank of 8, while someone who inherited their entire fortune and has done nothing special with it ranks as a 1. If you're wondering, Kylie Jenner, who grew up in a wealthy family and who has leveraged her fame, ranks a 7. She is officially the youngest self made billionaire ever, reaching the milestone at the ripe old age of 21. At the most basic level, the scores denote who inherited some or all of their fortune (scores 1 through 5) and those who truly made it on their own (6 through 10).
Are the Self Made increasing in number?
Looking at the numbers over time, the answer is a resounding YES: In 1984, less than half the people on The Forbes 400 were self-made; in 2018, 67% of the 400 created their own fortunes. The number of Forbes 400 members, over the past 30-plus years, who have followed their own path, using entrepreneurial capitalism as a means to attain a large fortune, has increased dramatically. The rise of the internet and technological advances benefiting millions of people have contributed mightily to the self made entrepreneur. One thing is for sure: The American Dream is alive and well.
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