Perusing the latest version of the Forbes 400 (the richest of the rich) we finally find a descendant of John D. Rockefeller (99 year old David Rockefeller) all the way down to number 192. Oprah Winfrey has dropped back to number 208 (she was at number 165 a few years back).
I saw one Kennedy, but he is not a scion of Joseph Kennedy, Sr.
No Du Ponts. No Astors. No Fords. No Morgans.
http://www.forbes.com/forbes-400/list/9/#tab:overall (http://www.forbes.com/forbes-400/list/9/#tab:overall)
Funny thing. There are always rich people but over time the names tend to change.
Quote from: Taxcutter on October 20, 2014, 11:35:48 AM
Perusing the latest version of the Forbes 400 (the richest of the rich) we finally find a descendant of John D. Rockefeller (99 year old David Rockefeller) all the way down to number 192. Oprah Winfrey has dropped back to number 208 (she was at number 165 a few years back).
I saw one Kennedy, but he is not a scion of Joseph Kennedy, Sr.
No Du Ponts. No Astors. No Fords. No Morgans.
http://www.forbes.com/forbes-400/list/9/#tab:overall (http://www.forbes.com/forbes-400/list/9/#tab:overall)
Funny thing. There are always rich people but over time the names tend to change.
Which debunks lib BS about passing fortunes down to heirs. It is apparent these changes are due to capitalism and entrepreneurship which causes lib heads to explode.
Quote from: supsalemgr on October 20, 2014, 11:52:45 AM
Which debunks lib BS about passing fortunes down to heirs. It is apparent these changes are due to capitalism and entrepreneurship which causes lib heads to explode.
Yes, funny how the names Walton, Gates, Allen, Jobs, Zuckerberg, Koch.....account for a lot of the list....all emerging within the last 35 years.
Donald Trump has held forth on this. It is very rare for a family to hold on to a large fortune for more than a couple generations. He knows his own kids (with nary an entrepreneurial bone in their bodies) will blow the fortune he made.
A century ago, Thomas Fortune Ryan was one of the three wealthiest men in the US. His family blew that fortune so fast (gone by 1930) the family is forgotten and has sunk back into the hoi polloi.
Every now and then, families have business-savvy offspring. William Vanderbilt doubled the fortune made by his father Cornelius.
Sometimes the original tycoons blow th fortune themselves. Viz: Andrew Carnegie.
Government has no right to enforce equality of economic outcome. That's what's wrong with Cuba.