Generational Wealth Inheritance
The cluster discusses the prevalence and implications of inherited wealth across generations, debating whether most wealth is self-made or passed down through families, with examples from billionaires and historical figures.
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Inherited wealth works wonders.
You've overlooked how much of this wealth is inherited across generations.
Wow, it’s almost as if wealth is generational /s
As would I, but I think there's some pretty straight forward logic in favor of it. The richest of the rich tend to have a healthy number of children, both in the past and in the present. Bezos has 4, Musk has 11, Sam Walton had 4, Vanderbilt had 13, and so on. When people die they are going to be distributing their wealth not only to their children, but also their grand children, and perhaps even further along. And then this happens over and over again, each generation. If your children fai
Most wealth in the world is inherited and grows over generations.
Most wealthy people in history have not been able to guarantee that their own children, let alone grandchildren or great-grandchildren, would continue on in wealth. To me, if you get rich, it's probably an awful idea to just give it to your kids, if you care about how they turn out at all.
Generational wealth is a thing...
Because wealth is built over generations.You too can build wealth for your children and grandchildren. All my grandparents were farmers, and most of their grandchildren have university degrees and a very good wage. I'm sure our grandchildren will have the means to start companies.The western world is sometimes too focused on individuals, but make no mistake, wealth is build over generations. And I don't see the issue with that.
What about wealth accumulated over generations though? Sure you may not be able to be rich yourself, but over a few generations can you make your grand children rich?
He likely is protecting his children's children by denying them obscene wealth. The problem isn't with the first generation born into great wealth it is the 2nd or 3rd who are far removed from the origin and the ways of thinking that created it they tend to get all sorts of deluded worldviews that ultimately lead to their and their families ruin. I've seen stats that assert 70%-90% of wealthy families lose their fortune over 2 generations. Falling wealth levels is likely a much g