The other huge check on older wealthy players is “the world moves on”. Often the latter phase of their life they are collecting rent on outdated business models

The other huge check on older wealthy players is “the world moves on”. Often the latter phase of their life they are collecting rent on outdated business models. That is profitable for many years, but not forever. Later generations often switch to a forward thinking competitor. Combined with cognitive decline, that makes it hard for 150 year old tycoons to grow new revenue... Although under capitalism (property law) rent-based revenues will typically grow large scale holdings even without smart development. Not sure if/how those two forces add up.