Your image of Gloria Vanderbilt and Anderson Cooper captured with the phrase many families have held onto their wealth is a misnomer. Vanderbilt died with very little money despite the massive funds left by her grandfather.
I think it's fantastic that Anderson pointed out to Gloria what her financial situation actually was. She had no idea. Then... she went to work and created her clothing line. I feel sorry for both of them having to watch Anderson's brother, Carter jump out the window 7 floors to his death. (Lots of people would have folded after that tragedy). Amazing family! My Duke family (American Tobacco Company) heirs blew most of their money, and only the Doris Duke Charitable Trust remains...
You forgot "inheritances", gained riches of deaths from life insurances, property and business sellings or other assets; semi trucks, planes, etc 😂🎉🎉🎉😅
I get what you’re saying, however it may be a distinction without a difference when talking about the two in this day and age. Their roles in society may technically be different, a royal family represents its people and will attempt to do what’s best for their country. On the other hand an aristocratic/noble family operates more like a generational family business doing what’s best for the family’s name, image, wealth, to pass it on to the next generation. But after those core differences, these two groups are closely connected, relying on each other for their existence, host similar events, and run in the same circles.
I guess they're often also investors, but you didn't mention non-founder corporate executives in large companies. By my count, there are around 25,000 in the US at any given time, not counting former execs who are likely now investors. I'm talking about execs with $500K to $2M in annual total cash comp. Over time, they definitely can become rich if they're smart with money management.
Interesting tidbit about #2 is that in both the Netherlands and in southern Europe, the majority of the merchant class families that rose to power and wealth in the last 500 years are still at the top of their wealth class today. Seems they did very well at teaching their families the art of maintaining wealth is just as important, if not more, than building it up.
well i guess since I'm practicing in it, I'm going for #7, the Investor. Why work hard when companies can work hard for me so I can eventually open my own business lol that or the lottery one.
I'm in the number 10 category, but you still didn't mention *breeding* . Where you went to school, your fraternity or sorority and which social organizations / clubs you belong to you as an adult. Some are invitation-only or hereditary. There can be multiple inheritances throughout your life. The first one can teach you that a large sum of money can be blown through fairly quickly. Then, there's the category of world travel, gap year experiences and fluency in various languages. As for outward appearances, I still drive a 1983 Mercedes turbo diesel with 310,000 miles on it. I do have bespoke suits and shoes, but I also shop at the local thrift store very regularly. I never pay retail for anything, and know the power of "cash in the pocket" - and how to effectively bargain. Don't ever judge a book by its cover! 😲
I am a college student currently in a fraternity. I have my grandfather‘ s old 1982 300D turbo diesel and I’ve installed the vegetable oil kit from frybrid. No gas expenditures, more money for beer!
@@OF-rl5lp There are a few people here in Austin who have converted their 300Ds to veggie oil. I've often wondered about that. Every time I'm ready to sell mine, I pull up at a gas pump - and someone tells me how they're still kicking themselves in the ass for selling theirs. Then... someone tells me they're getting harder to find and that their values are going up. This information makes me keep my car another year or two longer. I hardly see any on the road here in Texas anymore...
@@OF-rl5lp 70 miles from my hometown of Athens. Would love it if you know of a shop that works on these old turbo diesels in that area. I keep a ranch outside Athens, and we're always on the road back and forth to Dallas...
1:58 You can buy a title of nobility, but not on a website. Just find a person with a title whose spouse gets a title upon marriage, one of these people is bound to need money; people marry for money all the time. It's not going to be Princess Beatrice of England, maybe a ducchess who is a widow or if you're very rich you could marry a titled person who is doing alright but wants extreme wealth. That's a lot to do for a title that these days might get you a table at a restaurant that requires reservations (I knew a guy who's wife's name was French nobility and they did get tables at exclusive restaurants because of it.) In England, only about 30 top royals get a paycheck from the government; so the title isn't that valuable (they're not letting most of those Dukes pass on any paying title even.) My great great grandfather became rich in England, he wanted his children to marry into the aristocracy; one daughter married a deposed Bulgarian prince (no money, all stolen by the communists) and another daughter married a French viscount (he had money but the title was worthless, they were the first couple to circumnavigate the globe via airplane; I have 5th cousins I've never met who may unofficially be considered viscount's based on old inherited titles that are not recognized where they were born -USA- nor valid in their country of origin due to changes in government.)
I think it's going to be primarily geographical because of where most people are starting from. Luxury real estate and location is what ultimately separates people in a quality of life analysis for the future. In the future, there are going to be multiple ways to be a slum dog millionaire, so they'll be slum dog millionaires too!
@@davidstephan5116 nothing to do with jealousy. I have NOTHING against people who wants to make insane amounts of money. You don’t get it do you? The “elites” mentioned here are the people who try to control the rest of us with their corrupt media, vaccines and fake petro dollar. Idiot!
