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In Italy, wealthy business owners pass down the company to their oldest son/daughter. https://www.usatoday.com/story/news/world/2016/06/07/how-rich-and-famous-
by bitshiftfaced 5y ago
In Italy, wealthy business owners pass down the company to their oldest son/daughter.
https://www.usatoday.com/story/news/world/2016/06/07/how-rich-and-famous-remain-rich-and-famous-florence-italy-globalpost/85540990/ https://www.usatoday.com/story/news/world/2016/06/07/how-ric...
A similar thing happens in the Netherlands, where family wealth can persist and grow for centuries.
In the USA, people usually structure their will so that all children get a piece of the pie. Generational wealth gets divided exponentially, but businesses don't usually grow at that pace, at least not for centuries. Unless the family has very few children over multiple generations, the wealth per person isn't sustainable.