The Forbes 400: The 1982 List, 44 Years Later
The first Forbes 400, in 1982, had 436 entries. Thirteen of those people are still on the list. Which fortunes survived through heirs, which fell off, and which are simply gone.
The first Forbes 400, in 1982, had 436 entries. Thirteen of those people are still on the list. Which fortunes survived through heirs, which fell off, and which are simply gone.
Most fortunes vanish within three generations. The families that don’t — Waltons, Rockefellers, Murdochs — built machinery to turn money into lasting power.
Old money and new money aren’t two amounts — they’re two relationships to the same money. Here’s how the styles differ, what each costs, and why most fortunes lose the race.