We have a principal in the Bahai Faith which our family practices " be generous in prosperity and grateful in adversity" This has always served our family well.
Putting his oil on trains to fill them up was genius! Getting his own pipeline to his refineries was beyond incredible! Knowing your market and creating your part is legendary ❤
@@srecnamim6198😂😂😂I don’t think that’s how it works. If you built the wealth in your family from scratch, you’re first generation wealth aka new money & I think you’re considered new money until certain prerequisites are met. There are socioeconomic hierarchies within the hierarchy of wealth.
In fact, Cornelius Vanderbilt, like J.D. Rockefeller, had a reputedly frugal lifestyle relative to the size of his fortune. It was his progeny who built most of the lavish mansions and lifestyles for which the family became synonymous.
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@@eloncamus7968 It's called the chemical and pharmaceutical industry. And the fact that there are well over 15000 lawsuits every year, most of which are directly involved with fatalities and life altering consequences. Where do you think all that WWII research went. It came here, to NASA, Project Paperclip. Then they created the food industry and pharma industry to keep on keeping on.
He started life working as a grifter and conman with his father. Surely that had some influence. Still, it's kind of silly to judge 19th century figures by modern sensibilities. People in the future won't think so highly of us, either.
He was by no means a perfect man, but his business helped build America into a prosperous and successful nation, and he set the template for philanthropy as we know it. Worth studying, including his faults. Thanks!
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COMMENT: Which of these “old money” principles have you used in your personal life - or seen a wealthy person use?
I chose the frugel life its defense against the broke life
We have a principal in the Bahai Faith which our family practices " be generous in prosperity and grateful in adversity" This has always served our family well.
Wise words and put into practice are virtuous.
Kind of common sense though isn't it?
Putting his oil on trains to fill them up was genius! Getting his own pipeline to his refineries was beyond incredible! Knowing your market and creating your part is legendary ❤
What a legend. This guy was so much ahead of his time and is still ahead of our time. I understand
Make it and then give it away- good advice und very good documentation. Thank you.
By definition, John D Rockefeller himself was not old money. The guy who made the fortune is not old money.
Money he was managing was old and he was good "poster boy"
*stole*
fixed it for you
No one "makes" a billion dollars.
We pointed this out in the first minute of the video 🤔
@@srecnamim6198😂😂😂I don’t think that’s how it works. If you built the wealth in your family from scratch, you’re first generation wealth aka new money & I think you’re considered new money until certain prerequisites are met. There are socioeconomic hierarchies within the hierarchy of wealth.
Tell them!
The man who makes money is not old money.
I also celebrate the day in which I got my first STABLE job, which, curiously enough, is a couple of days before my birthday.
I’ll never forget the day I got my first STABLE job either, although shoveling horse chit wasn’t my life’s ambition…
Principle 3 gratitude to work
Thank you for the wisdom.
This is the second time today that I've heard that the Bible holds the secrets of wealth and entrepreneurship.
I know a sign when I'm being sent one!
At 11:05 - small correction: It was actually George Washington Vanderbilt, not Cornelius, who built the Biltmore Estate. Otherwise, great video!
Yes, we caught that after editing 🙈 great eye! Thanks for watching
In fact, Cornelius Vanderbilt, like J.D. Rockefeller, had a reputedly frugal lifestyle relative to the size of his fortune. It was his progeny who built most of the lavish mansions and lifestyles for which the family became synonymous.
Indeed! We cover it extensively here: ruclips.net/video/1rWyPN6uf7Y/видео.html
Hi all I can say is I am happy for him!
Self discipline.
I really think he was some kind of sorcerer!
Thanks OML... that was well done.
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He was a serial killer. That's the reality. That's the little aspect to most businesses that they neglect to tell you about.
How so
@@eloncamus7968 It's called the chemical and pharmaceutical industry. And the fact that there are well over 15000 lawsuits every year, most of which are directly involved with fatalities and life altering consequences. Where do you think all that WWII research went. It came here, to NASA, Project Paperclip. Then they created the food industry and pharma industry to keep on keeping on.
Tithing or tithes & giving to Church for a good cause.
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Criminal who did so much harm it may never be undone.
Explain.
ac
His cut throat business tactics were strategic to creating his vast enterprise. In business it’s survival of the fittest aka most money or power 😅
He started life working as a grifter and conman with his father. Surely that had some influence. Still, it's kind of silly to judge 19th century figures by modern sensibilities. People in the future won't think so highly of us, either.
He was by no means a perfect man, but his business helped build America into a prosperous and successful nation, and he set the template for philanthropy as we know it. Worth studying, including his faults. Thanks!
John D. Owes much of his success to his snake oil daddy!