Becker Business Podcast Episode Summary

Podcast: Becker Business
Host: Scott Becker
Episode: The Rich & the Super Rich
Air Date: September 29, 2025

Episode Overview

In this episode, Scott Becker explores the distinctions between the "rich" and the "super rich" in America. He uses net worth figures and percentile rankings to illustrate the vast disparities across wealth brackets, highlighting how billionaires skew averages and affect perceptions of financial standing. The discussion provides insight into how wealth is defined and perceived, even among those within the highest economic strata.

Key Discussion Points and Insights

1. Defining Wealth by Net Worth

• 1% Threshold:
  • To be in the top 1% of net worth in America, you need approximately $13.2 million in assets.
  • (Quote, 00:17:)

    "To be [in the] percent of net worth in America, you have to have a net worth of around $13.2 million."

• Median vs. Average Net Worth:
  • The median net worth is $13.2 million, meaning half have more and half have less.
  • The average net worth is higher, skewed by billionaires.
  • (Quote, 00:28:)

    "The average is likely significantly higher than [the median] because the numbers are skewed by some of the billionaires like Elon Musk, Larry Ellison and others that are truly billionaires."

• Wealth Disparity:
  • The inclusion of a small number of ultra-wealthy individuals inflates the average, making it less representative of the broader population.

2. Ultra-High Net Worth: Who Are the Super Rich?

• Ultra-High-Net-Worth Individuals:
  • Someone with $100 million in assets is closer to the top 0.03% of Americans.
  • (Quote, 00:47:)

    "If you've got $100 million in assets. At that point, one is closer to the top 0.03%, I.e., you're not rich than 97% of the people. Rather, you're rich than 99.7% of the people."

• Lifestyle Markers:
  • Individuals at this level often enjoy luxuries like flying on private jets, but may not yet have the means to buy major sports teams.
  • (Quote, 01:00:)

    "These are the people that I guess, fly private. They're not quite rich enough to buy sports teams, but they're in that in between spot of rich."

• Comparing to Billionaires:
  • Even those with $100 million may feel envy or frustration toward billionaires, noting how relative wealth impacts self-perception.
  • (Quote, 01:10:)

    "The super super rich that are billionaires, that they, of course, look at and think like, oh my goodness, the game is unfair. I'm only worth 100 million and those people are worth a billion. It is what it is. It’s the way of the human nature and the way of the mind."

Notable Quotes and Memorable Moments

• On the 1% and Skewed Averages

  "The average is likely significantly higher than [the median] because the numbers are skewed by some of the billionaires like Elon Musk, Larry Ellison and others that are truly billionaires." (Scott Becker, 00:28)

• Ultra Wealth Perspective

  "You're not rich than 97% of the people. Rather, you're rich than 99.7% of the people." (Scott Becker, 00:49)

• The Super Rich Mindset

  "I'm only worth 100 million and those people are worth a billion. It is what it is. It’s the way of the human nature and the way of the mind." (Scott Becker, 01:13)

Timestamps for Key Segments

• 00:17: Defining the threshold for the top 1%—$13.2 million net worth.
• 00:28: Explanation of how billionaires skew average net worth statistics.
• 00:47: Introduction to the 0.03% ultra-wealthy segment ($100 million net worth).
• 01:00: Lifestyle of the ultra-rich and their place in the social hierarchy.
• 01:10: Reflections on wealth relativity and perception among the super rich.

Episode Tone and Style

Scott Becker's tone is matter-of-fact and slightly bemused, underscoring the relativity of wealth even at the highest levels. He explains complex financial concepts in a straightforward, approachable manner, peppering the episode with reflective commentary about human nature and perceptions of fairness among the rich and the super rich.