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The difference between today and before is that old money is rarely parked in a single business model. The sophistication in finance, and the spread of public c

The difference between today and before is that old money is rarely parked in a single business model. The sophistication in finance, and the spread of public companies means the Waltons don't only stay rich as long as Walmart is successful. In fact, I'd bet their wealth is affected far less by Walmart than it is by the tens or hundreds of hedge funds and VC firms they are invested in. Money is rarely parked at any one place today, but rather, is largely distributed throughout the economy.

snowwrestler 12y ago
Which raises the question of whether 2nd generation rich are actually bad for overall wage growth. The industries that typically have the highest wages are the cutting-edge technologies; these are also typically industries that rely on a large pools of capital to fund high-risk investments. Venture capitalists have played a huge role in the story of the technology industry over the past 15 years, but where do VC's get their money? From the hedge funds of rich people like the Waltons.