Quote:
Originally Posted by Sly
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. |
I stand mostly corrected. He did not squander the money with bad decision or at least he was able to overcome them. However anyone can turn $40 billion dollars into $1 billion with mutual funds. That part is still correct.