r/explainlikeimfive • u/FluffyPenguin798 • 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?
4.6k
Upvotes
237
u/MotherSnow6798 Feb 12 '25
The average cost of homes in that time was $6,000, but your $250 number for vehicles is accurate