This Is Why The Rockefellers Are Still Rich | Business Tycoons

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In many cultures, there is an age-old saying that wealth is made and lost in three generations. In the U.S. they say, “shirtsleeves to shirtsleeves in three generations,” and in Japan it’s “rice paddies to rice paddies in three generations.”

In other words, wealth typically doesn't survive past the grandkids. Family fortunes inevitably decline due to taxation, consumption, the diluting of wealth through children and their children's children, and the corrupting influence of such a large sum of money.

The Rockefellers, however, have ignored the odds. The Rockefeller family's wealth has been passed down through the generations; in 2016, Forbes estimated that the family was worth $11 billion. John D. Rockefeller, who founded Standard Oil Company in the late 19th century, became the first American billionaire at this time, more than a century ago.

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[BizWhizYT]

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[wallin]

They're also lucky that their wealth was primarily in oil companies as oppose to railroads like the Vanderbilts. I'm sure they have a good system in place to prevent the wealth too, but it helps to be in the right industry.

[vcab]

I was early taught to work as well as play
My life has been one long holiday
Full of work and full of play
I drop the worry along the way
and God was good to me everyday

John D. Rockefeller

[ronchua]

Subs and liked! Great vid! Im a fan! Learned a lot! Keep it coming!

[UltraMagnis]

One of the major issues to the 3 generations downfall is that inheritence tax was introduced for this exact reason. To stop families just hoarding wealth. So even if you do continue to add to the fortune when deaths occur the tax is applied and in most countries it is about 30% of the entire fortune. So with that in place it has become way harder to pass on generational wealth past 4 generations if you are smart. If not 2 max.

It's a shitty tax that should not exist in my opinion. It's just the state taking their slice of a fortune ment to keep the family in good financial sted. I think it's wrong the state and government profit off the death.

[silverstar]

Not having a family business is good. Often a father builds something with a vision that his children will carry i5 one and be together. Man6 times it destroys their relationship.

[zettechillaxmode]

Beautiful relationships❤. Keeps them away from making wrong decisions

[callalilly]

Here I was thinking it was the illuminati😂

[alrent]

Wealth dwindles because future generations are less productive, less prudent. And spend more than they earn!

[mcawesomest]

Have a ruthless father threaten, bribe, or Buy your way to security and power

[Bobrogers]

I look at today's billionaires and see what they're doing with their money - and what they're not doing. There are a few philanthropic foundations that disburse large sums to charities annually, but what about all the other super-rich who are dedicated only to increasing their wealth and indulging themselves? I fear that the Age of Philanthropy is over.

[markw]

Forget about the charity work, these are not good people.

[zettechillaxmode]

The charity exposed them to good cause.

[zztop]

Most rich people are frugal, cheap, crooked, and jump on opportunities most call luck.

[harikrishnanchandramohan]

Bill Gates is exceptionally badass his technology company lasts as long like a generational wealth.

[RobertGreenlee-fu]

They make it sound like there so innocent

[brad]

This really didn't answer the question

[peanuthb]

Generational wealthy Hordes of Charlemagne. Robber barons😈😜🤘

[alexandarvoncarsteinzarovi]

Untile the dollar falls of the market or Covid24,