"King Charles: 'I'm a self-made millionaire'" was the title of an article I saw today on CNN.com (published 16 Sep 2022). Riiiiight. A man born into billions, the heir to the British throne since age 6, is "a self-made millionaire".
The king's obtuse boast, which dates back to 2004 when he was merely Prince Charles, is sadly not limited to those born into royal families worth tens of billions of dollars. The myth of self-made success is common to all sorts of people who grew up unaware of their privilege.
Perhaps you've seen the quip, "Born on third base and thinks he hit a triple." It's comforting to assure yourself that everything you enjoy in life, everything you achieved, is not because it was given to you but because you earned it.
Baseball metaphors aside, what forms does this privilege take? Here's a great meme I saw elsenet years ago. The original seems to have been taken down but I do have a text copy:
Is this literally true? No, because not every millionaire is a result of extreme privilege. Some of us get there from modest roots through intelligence and hard work. Also, being a millionaire isn't the exclusive status it was years ago. Nowadays many educated professionals in lucrative fields (law, medicine, science, engineering) who manage their money wisely can expect to reach millionaire level after a few decades of work. But replace "millionaire" with, say, $20-millionaire ($20M being size of portfolio needed to provide an independently wealthy life of ease today) and "every" with almost every, and it's true.
BTW, in the article it's explained how King Charles considered himself a self-made success because a company he started had earned him millions. Look to every single thing in the quote above, though, to understand the help he enjoyed getting there. Oh, and when his company failed 5 years later and he was facing millions of dollars of losses... a major retail chain made a sweetheart deal to rescue him. Normal folks don't have angels pick us up when we fall.
The king's obtuse boast, which dates back to 2004 when he was merely Prince Charles, is sadly not limited to those born into royal families worth tens of billions of dollars. The myth of self-made success is common to all sorts of people who grew up unaware of their privilege.
Perhaps you've seen the quip, "Born on third base and thinks he hit a triple." It's comforting to assure yourself that everything you enjoy in life, everything you achieved, is not because it was given to you but because you earned it.
Baseball metaphors aside, what forms does this privilege take? Here's a great meme I saw elsenet years ago. The original seems to have been taken down but I do have a text copy:
Behind every "self made" millionaire is generational wealth, family investments, nepotism pulling strings, secret capital exchanging hands behind closed doors, someone moving you to the top of a pile, deals made at country clubs, and elite education, and/or some type of access.
Is this literally true? No, because not every millionaire is a result of extreme privilege. Some of us get there from modest roots through intelligence and hard work. Also, being a millionaire isn't the exclusive status it was years ago. Nowadays many educated professionals in lucrative fields (law, medicine, science, engineering) who manage their money wisely can expect to reach millionaire level after a few decades of work. But replace "millionaire" with, say, $20-millionaire ($20M being size of portfolio needed to provide an independently wealthy life of ease today) and "every" with almost every, and it's true.
BTW, in the article it's explained how King Charles considered himself a self-made success because a company he started had earned him millions. Look to every single thing in the quote above, though, to understand the help he enjoyed getting there. Oh, and when his company failed 5 years later and he was facing millions of dollars of losses... a major retail chain made a sweetheart deal to rescue him. Normal folks don't have angels pick us up when we fall.