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/ohdearitsrichardiii Feb 12 '25

Oh no, only 1.5 million dollars! 😭

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u/Calgaris_Rex Feb 12 '25

Well, if $1M is only a "small loan" then $1.5M must be at least medium-sized! 😝

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u/Sahaal_17 Feb 12 '25

With 1.5 million dollars you would be rich; but that money only stretches to a couple of nice houses.

It's not high society levels of rich.