Masukuma, where did you get the stats that wealth is usually lost by the third generation?Quote:The richest Florentine families today were already at the top of the socioeconomic ladder almost 600 years ago, according to a recent study by the Bank of Italy. And research by the Organization for Economic Cooperation and Development shows that in many European countries, not only wealth and income but even occupations tend to be “sticky,” passed on from generation to generation.
1. More than one-third of Italy’s richest people inherited their fortunes.
2. Germany has the highest share of inheritor-billionaires among developed economies, 65 percent. Overall, heirs and heiresses make up about half of Western Europe’s billionaires.
Quote:It’s not the fast-lived, dynamic sector that forces you to take high risks,” he said at the Fuggerei, the affordable-housing complex founded by Jakob Fugger in 1521. “In every decision we make for the Fuggerei, we try to consider that and be prudent. It would be disastrous if a mistake brought sustainability to an end after 19 generations.
Quote:I almost feel a little bit more like a trustee,'' said Fugger-Babenhausen, head of one the three surviving family branches that still run the housing complex through a foundation. As for the family business, “I become very frugal in what I take for myself.
If Obiero did it, Who Am I?