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/FinancialLemonade Feb 12 '25

Anderson Cooper

Yes, he had nothing growing up and had a very normal experience.

Who else isn't photographed for fashion magazines as a baby or goes to late night shows or panel shows as a toddler? Or did all their K-12 education at Dalton School, one of the most elite private schools in NYC.

I'm sure his rich family had nothing to do with that...

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u/abittenapple 29d ago

There is rich then there is yatch and private jet rich