GoKawiil
Tech News
Economists Owen Zidar and Eric Zwick have published a book, The Everywhere Millionaire: Who Is Really Rich in America and How They Got There, arguing that most American millionaires are not tech founders, celebrities or Wall Street figures. The authors present five key findings about the actual sources of wealth across the country, drawing on their research into tax and income data.
An Entrepreneur contributor argues that AI-driven millionaires aren't using more tools than everyone else, but are applying AI narrowly to remove the single biggest barrier in their industry. The piece cites examples like a no-code app builder that let a non-developer describe software in plain English and ship it, alongside a $400 million company built without engineers and an $80 million exit from a solo founder. It also references Intuit's 2026 QuickBooks AI Impact Report, noting 43% of US businesses report AI-driven revenue gains versus just 2% reporting losses.
Secondary share sales at OpenAI and Anthropic have turned hundreds of employees into millionaires almost overnight. Many recipients, unprepared for sudden wealth, are reportedly spending on items like high-end computer hardware and espresso machines rather than making major financial changes.