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Bill Gates applauded Piketty's scholarship but disputed his central theory: "About half the people on the [Forbes 400] list are entrepreneurs whose companies did very well (thanks to hard work as well as a lot of luck). Contrary to Piketty's rentier hypothesis, I don't see anyone on the list whose ancestors bought a great parcel of land in 1780 and have been accumulating family wealth by collecting rents ever since."

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