Americans Don’t Understand Who’s Rich
Economists argue that the American public misidentifies the ultrarich, focusing on famous tech billionaires rather than the millions of private business owners who hold significant wealth. These 'everywhere millionaires' represent a massive, often invisible, segment of the economy.
Why it matters
Correctly identifying the source of wealth concentration is essential for informed debates on taxation, economic inequality, and fiscal policy.
The small-business owners with curiously large fortunes
Illustration by The Atlantic. Sources: iStock / Getty; Getty. September 14, 2026, 11:15 AM ET Share Save Terry Taylor is worth about $2 billion , and you have almost surely never heard of him. Based in Florida, he doesn’t put his name on the car dealerships that he buys up, and he reportedly attends conferences only on the condition that no one announces who he is. Taylor came to our attention in 2023, when he paid $76 million for an Aspen mansion—then the most expensive home sale in the Colorado town’s history.
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