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But as he approached fifty, Kenny yearned to do something different. Someone told him that More Than Money—the same inheritors group Jeff Weissglass got involved with—was hiring an executive director. He landed the position and, in short order, discovered that his pregnant teens had at least one thing in common with these young heirs and heiresses: Society defined and stereotyped both groups by how much money they did or didn’t have. The foundations that funded adolescent pregnancy care assumed the girls were getting knocked up because they were poor, “which was not necessarily true,” Kenny says, whereas the inheritors were pegged as “entitled and spoiled and lazy—and there’s no basis for that.” The anti-inheritor bias proved so toxic that some of Kenny’s former colleagues shunned him after he took the new job. “They’re like, ‘What a sellout! What a cop-out! Why would you do that?’ ” he recalls. “What does it say about our culture that everyone wants to win the lottery in some way, shape, or form, and there’s a whole segment of our culture that hates people who win the big payout.” This is indeed a paradox. Oscar Mayer heir Chuck Collins gave away his $500,000 inheritance in 1986, when he was a young man. (Invested in the S&P 500, it would be worth about $14 million today.) He has since dedicated himself, through the Institute for Policy Studies, to educating the American public about inequality. His memoir, Born on Third Base, includes the following scene: Speaking to a crowd of about 350 people, he asks who among them feels rage toward the wealthiest 1 percent. Almost everyone raises a hand. He then asks, “How many of you wish you were in the wealthiest 1 percent?” They laugh, but again, almost everyone. “People are envious,” Kenny says. “And what you end up doing with envy is demeaning whoever it is that you envy, because they have what we think we deserve.” During his time at More Than Money, Kenny grew friendly with Paul Schervish, then the director of the Center on Wealth and Philanthropy, and when Schervish offered him the associate director job, Kenny jumped. He’d seen how inheritors grappled with their unearned fortunes. Now he wanted to better understand their parents. Havens was the numbers guy “and I was in charge of: ‘I’d like to know what these people are thinking, and nobody ever asks them.’
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Michael Mechanic (Jackpot: How the Super-Rich Really Live—and How Their Wealth Harms Us All)