Good Looks Can Help You Be a Billionaire, But It Probably Won’t Top Your Net Worth Businesshala List, a pair of economists suggest in an unusual new paper, the latest study in a growing body of research that attempts to put a price tag on attractiveness.
for one working Paper Published this month by the National Bureau of Economic Research, researchers asked a panel of 16 Australian university students to evaluate the appearance of more than 700 ultra-wealthy people whose net worth and photographs were published Businesshala 2008 Billionaires List (the scale ranged from “very pretty” to “not pretty at all”).
Billionaires with larger net worth earned significantly higher attractiveness scores than less well-heeled members of the three-comma club, according to a paper co-authored by Barnard College distinguished scholar Daniel Hammermesh. economist and Australian Member of Parliament Andrew Leigh.
However, ultra-rich people may look better than their less wealthy peers: Researchers matched billionaires to college professors of the same age whose looks were assessed by six graduates. 2003 study, and billionaires earned slightly higher ratings on average, resulting in what the study authors called a “loose comparison.”
“If beauty matters on average, then those who are far above average have been pushed partly above their beauty,” says Hammermesh, who works as a research Fellow In the German Institute of Labor Economics IZA, told Businesshala. “But within that group looks extra [of ultra-rich people] It’s not going to make any difference.”
Hammarmesh has spent decades research How beauty influences economic fortune, a surprisingly strong corner of the study sometimes referred to as “pulchronomics.” attractive people are make more moneySecure more favorable loans and report higher levels life satisfaction compared to less good-looking peers, and some research suggests that beauty can help people move on In Politicshandjob Businesshandjob Play And Education, says Hammesh. However, this “beauty premium” doesn’t seem to boost the fortunes of billionaires: “This group is so extreme that within it, nothing matters to raise you from a $2 billionaire to a $50 billionaire,” They said Businesshala.
Yes, beauty is subjective, and the NBER study is based on assessments of just 16 college students. Still, Hammermesh believes the answers from these panelists are credible because they align with each other in most cases. In other words, Hammeresh thinks that beauty is in the eye of the beholder, but “we see it very alike.”
So, which billionaires are the most attractive? Hammermesh reported that British entrepreneur David Ross (whose net worth fell to less than $1 billion at the end of 2008) and BMW part-owner Stephen Quandt (currently worth $23 billion) scored the two highest points on the 2008 list. earned. Businesshala. At the other end of the scale, now-defunct Las Vegas resort magnate Kirk Kerkorian ranked lowest, followed by New York supermarket magnate John Katsimetidis, whose fortune currently stands at $3.7 billion.
4.76. This was the average attractiveness rating given to billionaires, slightly below the midpoint of the scale of 5.5. This harsh – and perhaps unfair – assessment may be because Businesshala The median age of Listies in 2008 was north of 60, which may have skewed the results. “Older people are rated worse,” even though the panelists are told to ignore age, Hammermesh said.
Men, people who have inherited some of their wealth, and people living in western countries had a slightly higher net worth than their counterparts in 2008 Businesshala List, as per NBER paper. This is a fairly specific topic: only 14% of the year Businesshala 400 – which ranks the 400 wealthiest people in the United States – were women, and 118 inherited at least some of their wealth.
Does Beauty Really Pay? (Businesshala)