Quote:
Originally Posted by Relentless
Born Rich is meaningless. Someone born to a family that has a few million tucked away has a big advantage over poor people but that kind of advantage usually gets squandered away within a couple generations or less. The market self-corrects for that sort of thing.
Born WEALTHY on the other hand is something entirely different. I'd bet you not a single person on GFY was born wealthy and other than one or two, not a single person on GFY has any chance of having their children born wealthy. When someone is born with a trustfund of a few hundred million... that doesn't ever go away. Decendents of railroad tycoons, banking vultures and oil titans, even several generations later are all playing by a very different set of rules.
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Having money makes it easier to make money. If I had ten million dollars in the bank when I was 18, I would most likely be in a different place today.
At the same time, my older brother, inherited millions of dollars when he was seventeen. He spent the next twenty-five years or so living well, never worked a day in his life... Until the money ran out. Suddenly he was forty-five and had never ever worked a day in his life.