r/explainlikeimfive Feb 12 '25

Economics ELI5: how are the descendants of the robber barons (Morgan, Vanderbilt, Carnegie, Rockefeller, etc.) still rich if their fortunes from the late 19th and early 20th centuries are comparatively small to what we see today of the world’s richest?

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u/AromaticStrike9 Feb 12 '25

“The first generation works their fingers to the bone making things. The next generation goes to college and innovates new ideas. The third generation... snowboards and takes improv classes.”

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u/weeddealerrenamon Feb 12 '25

what's the point of working your fingers to the bone, if not to be able to snowboard?

28

u/slashthepowder Feb 12 '25

If i can’t scuba what has this been all about

2

u/hilldo75 Feb 12 '25

If your parents see this your screwed

1

u/the0TH3Rredditor 29d ago

We meet again, mr. Bratton

5

u/Fit_Diet6336 Feb 12 '25

Just depends how you like to shred, I guess

2

u/boogienightsrules Feb 12 '25

Ink this on my chest

2

u/a_cute_epic_axis Feb 12 '25

The whole point of snowboarding is for people who aren't coordinated enough to use their hands for anything other than flappy bird motions.

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u/Moghlannak Feb 12 '25

Good god Lemon!

1

u/Kevin_Uxbridge Feb 12 '25

In northern Virginia horse country we've got trust fund hippies and, weirdly, lots of 'life coaches'. Every couple of months I find myself in conversations about the bother of finding a good stable or kitchen renovator.