Dynastic cores and the borrowed time of newcomers. Wealth accumulation and the Norwegian one percent.

ABSTRACT: This paper explores the trajectories of Norwegians who, in their late-thirties, possessed financial assets, such as securities, company shares and stocks, qualifying them as the wealthiest one percent nationally. We describe the accumulation of financial wealth over a 25-year period in adulthood and study how different wealth sequences are linked to family origins and kinship ties. Although some Norwegians manage to build up large fortunes from relatively modest starting points over their life courses, we find that the value of the assets possessed by self-made individuals, and their ability to retain wealth over time, differ significantly to those based on dynastic lineage. Among the latter group, profound wealth early in adulthood and strategic positions in the economy add to propel expo

SUBMITTER: Toft M 

PROVIDER: S-EPMC9305140 | biostudies-literature | 2022 Mar

REPOSITORIES: biostudies-literature