Why do 70% of families lose their wealth in the 2nd generation? (2018)

Re:Why do 70% of families lose their wealth in the 2nd gener... by ogogmad on Saturday January 08, 2022 @11:15AM (#29853032)

That makes the UK seem pretty corrupt. Do you have any sources for this?

You would need to get a record of who was wealthy 300 years ago, track down their descendents, and see who among those descendants is "wealthy" by some measure today.

You might also need to take into account things like inheritance and birthrights. I imagine first born sons of first born sons might preserve more of the wealth.

Also, what proportion of the rich today are "new rich", and how newly rich are they?

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Re:Why do 70% of families lose their wealth in the 2nd gener... by pydry on Saturday January 08, 2022 @11:28AM (#29853176)

Define it however you like but a lot of UK land has stayed within the same families for generations.

It's not unusual by any means. There was a study on, I think, Genoese families that showed that wealth had more or less stayed within the same families for 300 years.

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Re:Why do 70% of families lose their wealth in the 2nd gener... by richardwhiuk on Wednesday January 12, 2022 @10:41AM (#29907895)

Inheritance isn't normally a corrupt practice, and the best way to get lots of money is to start with lots of money and accrue it.

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