“Beauty too rich for use”: Billionaires’ assets and attractiveness

We examine how the net worth of billionaires relates to their looks, as rated by 16 people different gender and ethnicity. As a group, are both more educated better-looking than average for age. However, when we compare among billionaires, wealth is neither related beauty. nor educational attainment. The results do not arise from measurement error or nonrandom sample selectivity. They consistent with econometric theory about impact truncating include observations only an extreme tail dependent variable. point underscored comparing estimates earnings equations using all employees in American Community Survey those just top 0.1 percent earners. findings suggest powerful role luck within extremes distributions economic outcomes. That empirical regularities tend disappear far tails relevant analyzing any highly successful unsuccessful individuals.