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Do you have your tin foil hat on? Intergenerational wealth breaks down relatively quickly when dealing with significant numbers of heirs to a family fortune. Mo
by charlesdm 10y ago
Do you have your tin foil hat on? Intergenerational wealth breaks down relatively quickly when dealing with significant numbers of heirs to a family fortune. Most will probably still be UHNWIs, but that's it.
- rapsey 10y agoA family whose wealth was built by their knowledge of how to manage wealth let their fortune dwindle? If I'm a crazy conspiracy theorist for finding that hard to believe I guess I am.
- charlesdm 10y agoAs a family, they'll be worth a lot. But not that much. We're probably talking 100-200+ descendants over the centuries. Some will have done well in life (e.g. doubled / tripled / quadrupled their inheritances), others will have wasted it all.
- rapsey 10y agoYou are speaking in certainties and making baseless assumptions to come to your conclusion.
- charlesdm 10y agoSo are you? The things I brought up are relatively common sense. Common sense aside, I also know several old money families (some 3rd generation entrepreneurial, some old 12th century EU aristocracy) and I'm partially basing my assumptions based on what I've noticed and what they've told me about similar families they know. If you feel the need to prove the Rothschild family are trillionaires, go ahead + best of luck.
- rapsey 10y ago> So are you? What certainty am I speaking in? I'm making a clearly expressed assumption that they are using their family core competency of managing wealth and not pissing it away. > The things I brought up are relatively common sense. If you mean common sense as in having no sense how to properly manage wealth. Which is what very few people on average understand.
- tunap 10y agoHouse of Saud seems to have a pretty good grip on retaining wealth. Did someone say "trillions"? https://en.wikipedia.org/wiki/House_of_Saud#Wealth https://en.wikipedia.org/wiki/House_of_Saud#Wealth