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Fortunes can fade fast and, for some people, lavish spending, poor investments and an extravagant lifestyle can lead them to lose sums of money that others may only dream of obtaining. More From ...
Some built upon their inherited fortune to create companies that far exceed those of their parents or spouses -- like the Koch Brothers or L'Oreal's Liliane Bettencourt -- while others, such as ...
Open discussions about family legacy and financial literacy/education play a significant role in preparing the next generation to responsibly handle inherited wealth. [ 2 ] [ 4 ] Tax planning tools such as trusts and gifting are recommended for households with no prior experience with inheritances to protect and maximize the use of their assets.
The richest heirs and heiresses in the world span from hardworking retail owners to royalty, and the businesses they run vary just as much.
Excluding royal dynasties and land-owning aristocracy, the wealthiest families since the emergence of banking and early capitalism in the Italian Renaissance were: [citation needed]
Bernard Lafferty (14 April 1945 – 4 November 1996) was an Irish butler and heir to American tobacco heiress and philanthropist, Doris Duke.Duke hired Lafferty in 1987 and named him the executor of her $1.2 billion estate six months prior to her death in October 1993.
Having rich and famous parents comes with its perks -- which can include a sizable inheritance. But some business people and celebrities aren't looking to pass on their riches to their kids.
Alexander Josiah Webbe (16 January 1855 – 19 February 1941) was a cricketer who played for Oxford University and Middlesex.He also played one test match for England.. Born into a wealthy family that had long belonged to the colonial elite of Nevis, Webbe was the second son of Alexander Allan Webbe (1809-1868), who had inherited fortunes from both his uncle Josiah Webbe and from Sir Alexander ...