Andrew Follett: Most millionaires are self-made and did not inherit significant wealth

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Mikhail Vnuchkov

04.08.2026

Andrew Follett: Most millionaires are self-made and did not inherit significant wealth — Most millionaires are self-made in U.S.

Andrew Follett states that most millionaires in the U.S. did not come from wealthy backgrounds. He highlights that 86% of millionaires were not wealthy growing up and 89% are first generation, while only 3% inherited over $1 million.

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Follett has commented on global economic matters in earlier analysis. He noted that Iran tried to push oil prices to $200 a barrel, but prices remained under $80. In a separate report, Follett assessed how Iran’s long-standing economic policies did not stop external threats.

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