I don't agree with Piketty, but do note that he's looking at things from a mainly European perspective. Europe probably has a lot more old money + there is stil

I don't agree with Piketty, but do note that he's looking at things from a mainly European perspective. Europe probably has a lot more old money + there is still some (very) wealthy aristocracy around. I in fact personally know a family that still owns land they somehow acquired in the 1700s. But they're not the billionaires or hundred millionaires that roam todays capitalistic system. They're.. well off? I would call it FU money, but given they (sort of) have to pass it down the generations for forever, they definitely spend a lot less of it and enjoy it less.