If you pass it down in a poor family structure, utalia. And worse is if your family is involved in politics. There money just bleeds. Stay in business like Indians, it will survive.
Even Indian businesses often get run down. They are a favorite target of private equity companies looking for a distressed asset. Also third generation Indians lose the foresight of their patriarchs and get into hair brained ideas trying to copy things that are happening in Los Angeles
You mean to say descendants of the Rockefellerâs, Kennedyâs, Vanderbiltâs ni watu odinari pale majuu?
Yes, I remember seeing somewhere that there is no millionaire left from the Vanderbilts. Families grow at an exponential rate which companies canât keep up with
By 2070 Moiâs family will just be a regular people. In the USA, most presidentâs children end up living normal lives and having 9-5 jobs like Bushâs daughters who work for NGOs, Ronald Reganâs son who is a banker, Jimmy Carterâs daughter is a college professor. Malia and Sasha Obama both worked as waitresses and they donât get any special treatment.
D
Damn the guy started Vanderbilt University and at the time of his death left his oldest son $95,000,000 in 1877. I mean quality of life back then used to be cheap for them anyways. Sugar cost about 2cents in the late 1800s in the USA and I red that by 1970 the entire family was worth $10 million. Today, Anderson Cooper is the only one who seems to be doing well with a Net worth of over $50 million mainly from CNN and NGO endorsements.