6 ms·

They have land. Land usually beats inflation.

• Latteland 8y ago
  Tell that to the barons whose grandchildren or later are plumbers. Not that there's anything wrong with that ;-), but it's not the same as so rich you never work.
  • barrkel 8y ago
    Descendants are subject to inflation though.
    • OJFord 8y ago
      And dilution.
• xiphias2 8y ago
  Land is worth a lot, and still more than other assets, but relative value of non-tangible assets are increasing exponentially compared to land.
  • fastball 8y ago
    Yet land is the only true zero-sum game in economics.
  • Spooky23 8y ago
    Until you hit a patch where inflation or other economic trauma wipes out those assets. Old money people always have hard assets as a core part of their wealth.
• patrickk 8y ago
  Additionally, they're coasting on the the tech industry trend which encourages urban agglomeration[1] meaning it's more valuable to have people packed into a given urban area, therefore driving up the price of land. You can see this effect in tech and finance hubs the world over. [1] https://en.wikipedia.org/wiki/Urban_area https://en.wikipedia.org/wiki/Urban_area