Definitely. It is why I like to say that when it comes to the upper two quarters of income/wealth, there is way way way more upwards economic mobility in the US than in Europe.

Here in Germany it is very easy to go from broke to middle class if you are talented. But going from talented to rich is impossible. There is no access to capital so people fight over the few good paying corporate positions and even there you mostly get the position through nepotism.