shailynn --> "These fucking pussies with only a little over half-a-mil." --> end quote shailynn
Don't you mean HALF-A-BIL, as in billion? I thought I remember reading the state-by-state lists before. Many where billionaires but some states were "slumming it" by having their wealthiest citizen only having a net-worth of $400-500 million or so. IIRC.
Cornelius Vanderbilt was the wealthiest American in the mid to late 1800's. He owned a dozen railroads. He didn't believe in splitting up his wealth among his heirs, he went with the Old Testament tradition, give to the the oldest son (Deuteronomy 21:15-17). I think he gave like 90% to his oldest son William. William doubled the family fortune. He split it between his wife and sons.
(It's during William's time that JD Rockfeller and Andrew Carnegie are also become railroad barons)
It's the third generation that fails to increase the family wealth. They spend lavishly to maintain social status as well as philanthropy. They were buying prestige, they had the money and the English had the titles. Consuelo Vanderbilt would marry Charles Spencer-Churchill, 9th Duke of Marlborough (Winston Churchill is a son of John Spencer-Churchill, 7th Duke of Marlborough) with a $2.5M in rail stocks and a $100k/yr stipend for a dowry (doesn't sound like a lot but that was 125 years ago). She becomes a duchess, he can pay his bills. Downton Abbey takes several pages right out of these two families histories.
The Vanderbilts, the Rockfellers, and the Carnegies all suffer from the same problem, the following generations aren't able to build more wealth and dilute the money with more heirs.
If you look at the map, the Waltons (WalMart and Sams Club) are the richest in AK and TX. My guess is that in two or three generations their descendants too will be unable to grow their wealth faster than their heirs.
Thinking about fabulous wealth, the DeVos family from Grand Rapids, MI of AMWAY fame probably are near the top of Michigan's wealthy. Think about all the times the AMWAY sales people rang the bell at your place, times infinity.
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