When we look at the relationship between
wealth and wealth accumulation
People’s narcissistic scores to go up
as they tend to earn more.
I’m Dr. Craig Malkin.
I’m a clinical psychologist
author and lecturer for Harvard Medical School.
What all super wealthy people have in common
is they feel deserving of their wealth.
They don’t feel any conflicts about pursuing it.
They don’t feel like it’s greedy to want to have more money,
and what’s fascinating about that is
the bright side of entitlement.
Really, when you can think of as healthy entitlement
is feeling like you are deserving of things.
We need to have that.
So what we see in the ultra wealthy is
they feel that around money.
The other thing that comes out of the research is
it’s very clear that the ultra wealthy do feel
special because of their accumulation of wealth.
We, all of us, have areas where we tie our
sense of self-esteem to something external.
Within reason, that can be a great thing
and when it comes to people who are super wealthy,
obviously, keeps them focused on the idea
that they can continue to pursue wealth,
because it helps them ground their sense of self
They also have a kind of grandiosity
where they truly believe that everything they do
when it leads to a success, it’s because of what they
have done or not done themselves.
It’s as if they feel this incredible sense of control
over their own fate.
And of course, this is nonsense,
but that kind of grandiosity appears to be linked to
the ability to say
go into a risky business venture
feeling like I know what I amdoing here.
And sometimes, there is a big payoff not always,
but it’s enough to help people persist in the
face of failure when they’re trying to accumulate wealth
and obviously there is some connection between
that belief and people accumulating more wealth.