> In a loopy recursive way, it is.

The primary issue with this is that there is a significant amount of luck involved in acquiring large sums of wealth.

It's hard to get firm numbers around this, but it's estimated around 30-40% of the wealthiest people in the world, derive their wealth almost entirely from inheritance. It's actually very difficult to measure this accurately because a lot of studies will report people as "self-made" even if they started with a small $10 million loan from their parents.

Wealth also follows power laws such that it's significantly easier to acquire more of it once you pass certain thresholds.

Take Mark Cuban - made billions selling some crappy radio service to Yahoo!. Has done effectively nothing since then except for re-investing the proceeds from the buyout. He's technically self-made but it's hard to argue he was anything other than lucky.