Britain has more self-made rich than US

Art WealthAn interesting, and arguably, a surprising article that cites research showing Britain has a higher level of self-made billionaires than America.

Also of note is that both France and Germany have one of the lowest, with a greater percentage of billionaires having inherited their wealth.

Britain's billionaires are more likely than their US counterparts to have made their own money rather than inherited it, a study has found, challenging popular perceptions of greater social mobility in America.

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A survey by French bank Societe Generale and Forbes of super-rich people in 12 countries, many of whom are billionaires, found 80 percent of the British sample entirely "self-made," as opposed to inherited wealth or a mix of both.

Among the US rich, 68 percent were entirely self-made, the report said. Just a 10th of the British multimillionaires have wealth that was all inherited, compared with 18 percent of American billionaires, the report said.

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