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Old money is "the inherited wealth of established upper-class families (i.e. gentry, patriciate)" or "a person, family, or lineage possessing inherited wealth". [1] It is a social class of the rich who have been able to maintain their wealth over multiple generations, often referring to perceived members of the de facto aristocracy in societies that historically lack an officially established ...
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 ...
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]
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 ...
In law, an "heir" (FEM: heiress) is a person who is entitled to receive a share of property from a decedent (a person who died), subject to the rules of inheritance in the jurisdiction where the decedent was a citizen, or where the decedent died or owned property at the time of death.
The richest heirs and heiresses in the world span from hardworking retail owners to royalty, and the businesses they run vary just as much.
Ultimogeniture might also be considered appropriate for the estates of elderly rulers and property owners, whose children were likely to be mature adults. Those who stand to gain from ignoring the stipulation under ultimogeniture are more likely to have the facility to do so, when compared to other succession laws.
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