Quote:
Originally Posted by Yanks_Todd
Not sure if the data is available, however I would bet that most, (+50%) of people born into a rich family with a $40 million dollar inheritance could keep up with market growth rates.
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The data is available and there have been many studies on it. Time and time again, second-generation loses a huge chunk, third-generation destroys the rest as well as the name.
70% of Rich Families Lose Their Wealth by the Second Generation
Donald Trump is indeed a brash, blowhard. The idea that "anyone" can take $40M and turn it into B's is bitter nonsense. If that were the case, we would have even more billionaires.
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