Lee Duna@lemmy.nz to World News@lemmy.worldEnglish · 1 year agoNext generation of billionaires collect more wealth from inheritance than from work, says UBSwww.theguardian.comexternal-linkmessage-square70fedilinkarrow-up1544
arrow-up1544external-linkNext generation of billionaires collect more wealth from inheritance than from work, says UBSwww.theguardian.comLee Duna@lemmy.nz to World News@lemmy.worldEnglish · 1 year agomessage-square70fedilink
minus-squarelivus@kbin.sociallinkfedilinkarrow-up37·1 year agoOf course they do. It’s simple math. There was a study on ownership in London’s wealthy “City of London” district about 10 years ago which found most of it had been in the same families for several hundred years.
minus-squareinterceder270@lemmy.worldlinkfedilinkEnglisharrow-up6·1 year agoSeriously. They have a multi-generational culture of hoarding as much wealth as possible. It would be an embarrassment if any of their offspring lost their wealth considering how many safeguards are put in place to protect it.
Of course they do. It’s simple math.
There was a study on ownership in London’s wealthy “City of London” district about 10 years ago which found most of it had been in the same families for several hundred years.
Seriously. They have a multi-generational culture of hoarding as much wealth as possible.
It would be an embarrassment if any of their offspring lost their wealth considering how many safeguards are put in place to protect it.