According to PolitiFact, in 2011 the 400 wealthiest Americans "have more wealth than half of all Americans combined."[14][15][16][17] Inherited wealth may help explain why many Americans who have become rich may have had a "substantial head start".[18][19] In September 2012, according to the Institute for Policy Studies, "over 60 percent" of the Forbes richest 400 Americans "grew up in substantial privilege".[20]