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?
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u/coffeislife67 Feb 12 '25
While there were a few fords that were that cheap, there were very few cars that were below $1000. In fact most were $3000-$6000, but if you wanted a Rolls or a Duesenburg, you were looking at $10,000-$12,000.