3 ms·
Not sure what to make of that first link. The first one is a bunch of quotes about wealthy people worrying that their kids are irresponsible and this one uncite
by quadrangle 8y ago
Not sure what to make of that first link. The first one is a bunch of quotes about wealthy people worrying that their kids are irresponsible and this one uncited sentence aligned with the headline:
> Indeed, 70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third, according to the Williams Group wealth consultancy.
What is that? Sounds like a marketing claim by a company catering services to the wealthy about how to keep their family wealth. I can't just accept it blindly.
I agree that in the (unusual) case of Gates, he's obviously not just hoarding and passing on his wealth directly, but the upbringing and advantages his kids are getting plus $10 million leaves them still really wealthy compared to nearly anyone else on the planet regardless of the fact that it's a miniscule fraction of Gates' current wealth.