'Hunger Games economy': Scott Galloway says top 10% have 'exceptional' opportunities while others are on track for 'slow death' — blasts US system that turns rich kids into billionaires

As a professor at New York University’s Stern School of Business, Galloway says he witnesses this first hand. The school claims full-time, two-year MBA graduates in 2024 earned an average of $200,000 in compensation, which puts them in a high-income bracket right away.

Galloway acknowledges the opportunities for high-earning Americans have “never been more exceptional,” but questions whether this is good for the rest of the country’s young population.

'Hunger Games economy'

The top 10% of earners, households that generate around $250,000 in annual income or more, now account for 49.7% of all consumer spending, the highest level since 1989, according to Moody’s Analytics data cited by The Wall Street Journal. Thirty years ago, this cohort accounted for just 36% of total consumer spending.

In addition, the top 10% controls 87% of stocks, 84% of private businesses, 44% of real estate and roughly two-thirds of all wealth across the country, according to Ben Carlson at Ritholtz Wealth Management. This is based on data from the Federal Reserve.

Galloway says the U.S. has turned into a “winner-take-most” environment and is critical about whether or not this economic system allows for upward mobility.

“Is America about identifying the remarkable or identifying the children of rich people and turning them into billionaires? Is that what America is supposed to do?” he asked. “My view is America is about identifying or giving everyone in the bottom 90% a shot to be in the top 10%. That's how it was when I grew up.”

While you may not be able to change the system alone, there are some ways to improve your financial prospects individually.