The magazine completed interviews of many on the list and discovered these interesting facts. My (sarcastic) commentary is added.
- 52% are Republican. Only 17.1% claim the Democrat party. Apparently, the leaders of the reported “backbone of the American economy” believe that we should have a small government that spends records amounts on wars to protect our liberties, but encroach on those liberties during said wars. I know, cheap shot, but not nearly as cheap as the $455+ billion spent to date on the Iraq war, or the families of the 3724 dead soldiers.
- 12% have a net worth under $1 million, 50% $1 million to $4.9 million. And they earned every last dollar, darn it! Well, maybe not “they”, and not “earned”, but dollars yes absolutely! And considering that 57% have started other companies, they clearly are putting all their attention and effort into their business.
- 85% were born in the US. Evidence that immigrants have a clear, equal opportunity in this land of plenty.
- Less than 31% earned a Master’s degree or above. Evidence that business savvy doesn’t come with your MBA. Rather, MBA’s are hired to make a CEO money. See net worth above.
- 7.6% received under $100k in 2006. 43% made 100k-249k. Clearly, a CEO’s work is worth 4x that of the average worker, considering that that the median family income during that same year was $46,326. But I should be fair — an MBA can expect just shy of $100k depending on location and prior work experience.
- 43.5% stated the challenge of building a business was their primary motivation. Compare that with 30% that said financial independence. I guess money isn’t a motivation if you have a net worth of $1-$4.9 million and pulling in $100k-$250k/year. 24.9% stated demand for a product/service. I wonder how the environment would change if this was a key motivating factor rather than just the thrill of the chase.