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Perhaps there are wealthy people that, through hidden inheritance, should be on the list. But what this article looks at is the Forbes 400 richest. Unless there
by bko 11y ago
Perhaps there are wealthy people that, through hidden inheritance, should be on the list. But what this article looks at is the Forbes 400 richest. Unless there are some Vanderbilts hiding somewhere with billions in offshore accounts, then I would say that inheritance is not driving inequality as much as you think.
Also, you have to consider that inheritance is often passed on is often wasted in a few generations.
> Indeed, research shows that family money rarely survives the transfer for long, with 70 percent evaporated by the end of the second generation. By the end of the third? Ninety percent
[0] http://www.wsj.com/articles/SB10001424127887324662404578334663271139552 http://www.wsj.com/articles/SB100014241278873246624045783346...
- nitrogen 11y agoThe most valuable forms of inheritance are the attitudes and connections of one's friends and family. The only way to stop that would be forced isolation/extreme desegregation. That almost sounds like a plot for a Hollywood reboot of Ayn Rand -- "In a world where rich kids are forcibly distributed and forbidden from having rich friends, three teenagers find each other and, surviving their bizarre love triangle, start a mountain colony where rich kids can get together and par-tay."