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I'm not sure about what you said in your video, although most of them are "self-made" but they all have rich networks (in terms of capital funding, skills, and knowledge).
That Forbs Study about how millionaires and billionaires changes really fast well that is only in America only. Outside of America the same exact families have stayed rich and the poor families have never gotten rich. Its straight up the poor were always poor and the rich were always rich. America is the 1 and only country that changed that existence. America is also the only country that allows rich to marry poor. Even to this day no other country allows a rich person or noble to marry a peasant or poor person. So outside of America there is no change ever. Trump's wealth is so large that no one can realistically comprehend it on normal understanding and its self made. People always claim Trump was born rich but that is a blatant fucking lie to the point where anyone who believes that needs to get a fucking brain or be put into a mental hospital. Trump with 7 sisters and his parents lived in a studio apartment in Harlem New York City during the Great Depression and his father worked as a beam walker in construction. Beam walkers were the poorest of employees and had the highest casualty rate out of all construction. Trump started his grind at the perfect time as a kid. His sisters and him ran a lemonade stand like most kids but Trump had a massive idea and he did not spend any of his money on toys in stead Trump bought a Colman Cooler and a Radio Wagon, then he went to the Coca Cola distributer and bought bottles of soda then the walked to the ice store and bought ice and went to construction sites all around New York City and to places where politicians and business men from other countries were and Trump by talking to different people from around the world he learned business and he learned how the laws work and how they are written and he learned over 180 different languages. On Trump's down time he went out and learned shit from talking to people in person. Trump grew strong as hell both physically from the walking around New York City every day for nearly 12 years and mentally strong by actually learning in person everything. Trump is so smart that he actually scored a 279 on an official IQ test. Now note to graduate collage with a masters degree you need a 89 IQ that is it. Nicola Tesla had an IQ of 163. Einstein had an IQ of 78. To get excepted by Mensa as a super genius you need an IQ of at least 187. Trump has the 2nd Highest IQ ever. There is a guy who works for DARPA that scored a 300 when he was 7 years old when he hacked Aria 51 and the Pentagon and shut down their computers. That kid is the only person to have such a high IQ that he literally was adopted by DARPA where all intelligent people live. His parents and him were given 2 choices. 1: Go to jail for life pending the death penalty for high treason or his parents get paid $1 billion and he goes to live at DARPA where basically well DARPA has blatant unlimited funding, any and all resources they want is given to them, they have maids that cover their every needs including cooking and cleaning and even wiping their asses, and they ae blatantly above the law as in you can't arrest them for anything because they are outside the law and can basically do what ever the fuck they want. So yea 1: ho to jail for life or 2: become above the law and using their intelligence to create anything and everything they want in which so much that everyone uses even though people don't realize DARPA has blatantly created every advancement in the last nearly 200 years sense they were founded. The writing press, electricity, indoor plumbing, televisions, nuclear bombs, gas cars, phones, computers, telephones, planes, the internet, video games, and basically every major and even 99% of all minor advancements DARPA is 100% responsible. The United States created nearly 200 years ago an organization called DARPA for the purpose of having an organization designed to basically advance America in any and every way it could and that organization is made up only of the smartest people America can get and those people get infinite recourses and infinite money and are removed from any and all legal issues and attacking one of them is a declaration of war against humanity itself. Trump is smarter than all but 1 member of DARPA. DARPA has even been working on well immortality and well here is the best way I can think of that DARPA has done and well its not just plausible but there is a high chance its already been mastered. In the 1950s DARPA started cloning and by the early 1960s DARPA mastered cloning live stock. In 1992 DARPA downloaded half a monkey brain into a computer and that computer was able to operate things do to the monkey mind in the computer controlling those apps on the computer. If you can download a mind into a storage system then download that mind into a new vessel you can are in reality creating a straight up form of immortality. We have had the technology for over 30 years and we have successfully performed the process over 30 years ago. This is why DARPA is granted freedoms that other won't have.
Investing in alternate income streams should be the top priority for everyone right now especially given the global economic crisis we are currently experiencing. Stocks, gold, silver and virtual currencies are still attractive investments at the moment.
Fun context is that the Forbes list of billionaires is oftentimes comprised of billionaires who want their name known for marketing, while the head editor of that precise list has said that there's more billionaires out there or self-made then old money, specifically that they're in the ground floor of a business that sells and they keep their stock and it succeeds and they avoid the same because it's frankly devastating without training for how to deal with it.
My wife and I both came as dirt poor chinese students. We studied hard, worked hard, saved and invested. Now we are wealthy even by American standard. We love how fair things are in the US. No, it's not perfect, but it's far more fair than most places in the world. At the same time, I notice a lot of Americans just complain but never study work, save and invest near Asian level. The rags to riches saying is universal. There is the same saying in China. My wife and I are also concerned that our children, and their future children, born in Amierca, never seen a day of true hardship, will also grow soft and spoiled, and lose what we built over tim3.
you are only liable for you and your chidlrens wellbeing. you're already being generous to think of your grandchildrens wellbeings. but it's going to be out of your hands.
Glad to read this. After some traveling abroad, I largely agree, but I am also concerned that people tend to forget that rule by law needs to be protected by an engaged and informed electorate. It's not a set and forget system.
Pass on good frameworks your children so that they make better decisions and codify your family values. Ensure that your children understand their privilege and learn financial literacy. Study how the Rockefeller Family teach their kids to invest and donate from early on so they value the power of money and learn to respect it. How you raise your children influences how they raise their children. Lastly, you can setup a trust with 50% of the assets to skip a generation and go to the grandchildren like my friend’s family did (he is 4th generation wealth). In short, study how other families have avoided the shirt-sleeves to shirt-sleeves in 3 generations rule and then follow their recipe.
@@HowHistoryWorks That's the power of the Medici. The Pazzi were wiped out so completely that the Florentines started using their name as a synonim for madmen (as their last name was plural), in time it spread to the entire Tuscan language, and when Italy was unified Tuscan became the Italian language. And now many who learn about them either pity them for their name or look up what the hell happened for that name to become what it is.
I know of many individuals who were gifted assets when young that grew into a multi million dollar portfolio over time. I wonder if these people are considered self made millionaires????
Depends on the size of the assets. - In that vain the support Bill Gates was given by his parents did not match becoming the richest man in the world for a while.
A few notes: * "Pazzi" means "crazy", which is a name probably given by their unrestrained behaviour in the past; * some people think that the Italian word "pazzo" for an insane person derives from that, but it was already in use before; * regardless, their name was basically eradicated, with all the survivors forced to change name in order to survive; * Strozzi and other main families used to compete in grandiose buildings and art in order to gain and affirm their prestige - that is what kickstarted the Renaissance; * the "Medici" name comes in all likelihood from ancestors related to the medical profession and their heraldic symbol recalls that, with the circle in it representing pills.
On one-fifth of millionaires were handed wealth by their parents is misleading. How many first-time millionaires came from the upper middle class? That's what I want to know and address.
Worth noting: the actual Lehmans alive now grew up in their family's castle that was built back in the 1800s, having long ago cashed in their stake in the company- long before the company collapsed!
Something important the Medici family shows is that you need to defend your wealth. There will always be those who want to take your family's wealth and power. This is something that may have not been taught by first or second generation of family members.
I'm actually 4th generation from an oil tycoon. In our case it's definitely the 3rd generation that destroyed it, both got degrees and neither has a job and my parent was so bad it's left me permanently disabled. Thankfully Gen 1 & 2 at least tried to make sure we got some so I haven't had to go on disability yet but it's still barely more than minimum wage and I'm raising two children. The saddest part is that I'm a born entrepreneur (ran multiple businesses starting in childhood) but I'm not able to work anymore so chances of my kids getting anything are slim.
I am the ambitious one in my family, even though my sister is a lawyer; and I am a retired reserve officer and I.T. guy. My parents passed away decades ago, my sister and I are upper middle class. I googled alot about the Rockefellers, Vanderbilt, etc. And how they set up their trusts, I am planning to follow the Rockefeller model of setting up the trusts. Also googled what stocks always pays dividends. It came back with King Dividend and Aristocrat Dividend companies. Then I googled the holdings of the Rothschild family, and Warren Buffet. One European, one American. Cross referenced which companies they both own together. Then googled to streamline, which of these companies survived, the market crash of 1929; that led to the great depression. I am taking a new mortgage against my home (fully paid off). And leveraging that money into 4 companies I am investing in. All you need is four companies to invest in, every month during the year dividends are paid. Dont forget about the DRIP (Dividend ReInvestment Plan). Let the DRIP, do it's thing. All I am doing is following the beaten path, the Rothschild and Warren Buffet paved. I have an ETF I am investing in, that once I have a certain amount that I can pay off the new mortgage within 2 to 3 years. I can payoff the mortgage quickly, and start investing heavily into these specific companies. I once was engaged to a Cuban girl, and I would boast to her family; that I am going to be the Cuban Rockefeller. I haven't stopped believing in that goal, since I was 18 years old. I am not trying to brag or boast, just to advise you on a plan. I hope you get and feel better, good luck and good fortune to you. Kind regards, Ramon Rodriguez
Its most amazing because of how reckless you have to be to burn generational wealth. Just by investing you could live a affluent life from the returns and pass the fortune along
I'm a fan of Inter Milan Football club as well as being a fan of the De Medicis... A while ago after Marotta was appointed as a Chairman, I took a look at the pervious chairman list since the inception of the club and got shocked when I knew that between 1910 and 1912 the chairman was Carlo De Medici. I searched about the guy but unfortunately nothing much was available about him.
Please correct me if I’m mistaken but I believe the Cosimo at 8:10 is not the same Cosimo at 8:18. They lived in different centuries (1400s and 1500s). The first Cosimo is considered the first power broker among the Medici. The latter Cosimo is the first Grand Duke of Tuscany I think.
The FitzWilliams of Wentworth woodhouse, one of the richest families in the United Kingdom, when their coal mines were nationalised and the government of the day intent to make an example of the rich lost everything due to taxes and loss of income. In the end had to auction of the items in the house and then selling the house itself. I think it will make a fascinating episode or a mini series of the tale of the fall of the owners of the largest private homes in the UK
The dug up Cosimo's remains and removed his clothing, and his burial clothes are on display in the Palazzo Pitti. Still shows bodily fluids from decomposition. How did is that?! Couldn't leave him alone.
The fallacy of free market capitalism is that capitalists are opposed to the idea of competition. Oil, auto, tech corporations are not competing, they are price-fixing.
That's a nice history lesson, but you didn't really delve into the topic of HOW to preserve the family wealth 500+ years into the future and increase power and influence. Do a dedicated video on that!
My etate plan forces my heirs to run a foundation and spend most of it on research and charity. While they can cut Some out for themselves creatively, They'll have to make their own money if they want to spend it on hedonism. Take that kids 😂!
The second generation wants comfort and to maintain an image, the third wants to enjoy and go out and I personally like order and productivity. I never met the first generation, but wanting the opposite of what the previous generation has seems to make you poor, childish impulse.
Well, the UK has the Florentines beat. Many of the wealthiest families in the UK descend directly from the men who helped William the Conqueror become king of England in 1066.
Most modern ultra rich people did not come from the destitute they came from families that where at least middle class if not upper class but not from the ultra wealthy. The reason is you need some resources as the seed as a start but you also need to be raised where you are challenged to better your self so if you are born as the idle rich you wont be challenged. The vast majority of the rags to riches stories come from people who's parents where middle class they just down play that their parents where middle class and not from the destitute. As for back before the modern era only the first born son inherited, everyone else got jack squat. If his father had not sold off his sisters before his death to gain more power he would do it. If his brothers wanted to live the good life they had to brown nose to their older brother to get a good job with him. Of course if he thought that they where of any threat to him what so ever he would make sure that they where kept as far away from him as possible if not killed off that does not look to suspicious. You didn't want to hurt your good families name if it can be at all avoided.
The "x % of millionaires are self-made" is highly misleading. (I think you used it sarcastically) It implies that the chance of becoming a millionare is equal for those from wealthy and poor families alike. What it fails to account for, though is that 99% of the general population is not "wealthy" or "super rich" (that number may vary). If we thus assume that only 30 or 40% of millionaires are from wealthy families, then that still means they are overrepresented by a factor of 40 in the millionaire category.
It matters a lot if your mommy and daddy are educated folk or methheads😂 It matters if you have been educated or traumatized, It matters if you have the drive or the fear of evolving.
There is actually statistics backing up the wealth rotation, but not inter-generational. With the same individuals. Most people in America will be poor, middle class and upper middle class at some point in their lives, even if just for a year. When you said that many of the wealthy families from centuries ago are still in the top 10%, that doesn't sound very impressive after having been the wealthiest people in the world.
Or… you know, wealthy people of access to resources to obscure the disposition of their wealth-such as trust funds that are under a management of a law firm or financial manager and under orders not to distribute more than a certain amount over a specific period of time, thus allowing the descendants to live without worries and grow wealth separately because they don’t have to worry about silly thing like utilities, rent, etc.
Florence was a Republic not a democracy, it's not totally the same things. A republic may be or not democratic. Republic system, only mean the chief of the government or state is chosen after an election, nothing more. For Florence, it was elected by a few electors from members of wealthy and powerful family from the city, the people have no voice at all. At almost the same time, you have the family Beretta who sell is first Artillery gun to the Republic of Florence, the Family is still in charge of the company today, and their bank account is doing well. The bill of this first sell to Florence is still in the archive of the company.
I like how all your thinking revolves around the idea that all human history related to wealth revolves around Europe and America - its rather cute but history has far more show and excite us with when it comes to how wealth can be retained and passed on across generations. But as you were lad - interesting video.
Rags to rags in three generations are true for most rich people we see in our neighborhood but this ultra rich like billionaires are not same as normal rich people we see .
Does it take in to account the richest women who got their money through divorce? Since those women were not raised with the money the husbands had do they count for or against? curious.
It is interesting how much happens in the mind before it works out in practice. The attitude that we have made it and can now take it easy, signals the decline that is to come. Similarly, the hunger and ambition that leads to hard work and results in wealth starts internally. No one but the person himself/herself can make and see through those decisions for effort and sacrifice. Wealth creation and expansion does not happen unless those sort of decisions are made. And such decisions always start within the person and must be made by each generation in turn.
As money ages, it disappears from sight. It appears as though most of the rich are self made is because new money is much more easier to track. The statistics that are the foundation of this video are highly skewed. They wealthiest people in the world are not known to the general public.
If the narrator is just a voiceover actor then someone wrote this line @5:46 and he had to read it. . . thats fucked. Edit: he wrote the line ignore my hand wringing.
@@StoryJerk Phew! Lol I laughed . . .and then thought about it for a second. Self depreciation is funny. Someone else writing a self deprecating joke for you. . .not so much.
This comment section just shows how many you’re thinking will keep most of you poor and broke. I am a self made man working on my first million dollar company and everyone I know that is successful and owner of their own business are left made and had to work hard. But keep thinking that I had a Breyer life then you sure 😅
I'm always curious how elites compare with other elites. How does upper middle class blokes react if they strike a ceiling, how do high-level administrators compare salaries etc.
@@Hanniah--Heart Like what the upwards mobility of a place is like. Not just for the underclass and working class, but for middle class people with upper class ambitions.
Is there something wrong with our ears, or has the dubber changed, or rather, a new dubber has been hired? I don't mean it negatively, I'm just asking...
Was this just Trump propaganda? 😂 (mostly at the end) The number of family members doesn't correlate with importance. They don't have money compared with the average millionaire. And their political will disappear along with other political families in 4 or so years (his kids ain't that bright either)
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Meh
I'm not sure about what you said in your video, although most of them are "self-made" but they all have rich networks (in terms of capital funding, skills, and knowledge).
That Forbs Study about how millionaires and billionaires changes really fast well that is only in America only. Outside of America the same exact families have stayed rich and the poor families have never gotten rich. Its straight up the poor were always poor and the rich were always rich. America is the 1 and only country that changed that existence. America is also the only country that allows rich to marry poor. Even to this day no other country allows a rich person or noble to marry a peasant or poor person. So outside of America there is no change ever. Trump's wealth is so large that no one can realistically comprehend it on normal understanding and its self made. People always claim Trump was born rich but that is a blatant fucking lie to the point where anyone who believes that needs to get a fucking brain or be put into a mental hospital. Trump with 7 sisters and his parents lived in a studio apartment in Harlem New York City during the Great Depression and his father worked as a beam walker in construction. Beam walkers were the poorest of employees and had the highest casualty rate out of all construction. Trump started his grind at the perfect time as a kid. His sisters and him ran a lemonade stand like most kids but Trump had a massive idea and he did not spend any of his money on toys in stead Trump bought a Colman Cooler and a Radio Wagon, then he went to the Coca Cola distributer and bought bottles of soda then the walked to the ice store and bought ice and went to construction sites all around New York City and to places where politicians and business men from other countries were and Trump by talking to different people from around the world he learned business and he learned how the laws work and how they are written and he learned over 180 different languages. On Trump's down time he went out and learned shit from talking to people in person. Trump grew strong as hell both physically from the walking around New York City every day for nearly 12 years and mentally strong by actually learning in person everything. Trump is so smart that he actually scored a 279 on an official IQ test. Now note to graduate collage with a masters degree you need a 89 IQ that is it. Nicola Tesla had an IQ of 163. Einstein had an IQ of 78. To get excepted by Mensa as a super genius you need an IQ of at least 187. Trump has the 2nd Highest IQ ever. There is a guy who works for DARPA that scored a 300 when he was 7 years old when he hacked Aria 51 and the Pentagon and shut down their computers. That kid is the only person to have such a high IQ that he literally was adopted by DARPA where all intelligent people live. His parents and him were given 2 choices. 1: Go to jail for life pending the death penalty for high treason or his parents get paid $1 billion and he goes to live at DARPA where basically well DARPA has blatant unlimited funding, any and all resources they want is given to them, they have maids that cover their every needs including cooking and cleaning and even wiping their asses, and they ae blatantly above the law as in you can't arrest them for anything because they are outside the law and can basically do what ever the fuck they want. So yea 1: ho to jail for life or 2: become above the law and using their intelligence to create anything and everything they want in which so much that everyone uses even though people don't realize DARPA has blatantly created every advancement in the last nearly 200 years sense they were founded. The writing press, electricity, indoor plumbing, televisions, nuclear bombs, gas cars, phones, computers, telephones, planes, the internet, video games, and basically every major and even 99% of all minor advancements DARPA is 100% responsible. The United States created nearly 200 years ago an organization called DARPA for the purpose of having an organization designed to basically advance America in any and every way it could and that organization is made up only of the smartest people America can get and those people get infinite recourses and infinite money and are removed from any and all legal issues and attacking one of them is a declaration of war against humanity itself. Trump is smarter than all but 1 member of DARPA. DARPA has even been working on well immortality and well here is the best way I can think of that DARPA has done and well its not just plausible but there is a high chance its already been mastered. In the 1950s DARPA started cloning and by the early 1960s DARPA mastered cloning live stock. In 1992 DARPA downloaded half a monkey brain into a computer and that computer was able to operate things do to the monkey mind in the computer controlling those apps on the computer. If you can download a mind into a storage system then download that mind into a new vessel you can are in reality creating a straight up form of immortality. We have had the technology for over 30 years and we have successfully performed the process over 30 years ago. This is why DARPA is granted freedoms that other won't have.
Every family has that one person who will break the family financial struggle, I hope you become the one
Investing in alternate income streams should be the top priority for everyone right now especially given the global economic crisis we are currently experiencing. Stocks, gold, silver and virtual currencies are still attractive investments at the moment.
You’re correct I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at the moment.
I have always wanted to trade but I never came across the right source for that but coming across your comment just gave me hope
Kate Mellon Bruce is not just my family’s financial advisor, she’s a licensed and FINRA agent who other families in the US employs her services
She's active on face book @
Fun context is that the Forbes list of billionaires is oftentimes comprised of billionaires who want their name known for marketing, while the head editor of that precise list has said that there's more billionaires out there or self-made then old money, specifically that they're in the ground floor of a business that sells and they keep their stock and it succeeds and they avoid the same because it's frankly devastating without training for how to deal with it.
Could you revise your grammar a bit? I struggled to understand what you wanted to say.
My wife and I both came as dirt poor chinese students. We studied hard, worked hard, saved and invested. Now we are wealthy even by American standard. We love how fair things are in the US. No, it's not perfect, but it's far more fair than most places in the world. At the same time, I notice a lot of Americans just complain but never study work, save and invest near Asian level. The rags to riches saying is universal. There is the same saying in China. My wife and I are also concerned that our children, and their future children, born in Amierca, never seen a day of true hardship, will also grow soft and spoiled, and lose what we built over tim3.
you are only liable for you and your chidlrens wellbeing. you're already being generous to think of your grandchildrens wellbeings. but it's going to be out of your hands.
Glad to read this. After some traveling abroad, I largely agree, but I am also concerned that people tend to forget that rule by law needs to be protected by an engaged and informed electorate. It's not a set and forget system.
Your children could work every day of their remaining lifespan and they still would never be able to afford the home they were born in.
Pass on good frameworks your children so that they make better decisions and codify your family values. Ensure that your children understand their privilege and learn financial literacy. Study how the Rockefeller Family teach their kids to invest and donate from early on so they value the power of money and learn to respect it. How you raise your children influences how they raise their children. Lastly, you can setup a trust with 50% of the assets to skip a generation and go to the grandchildren like my friend’s family did (he is 4th generation wealth). In short, study how other families have avoided the shirt-sleeves to shirt-sleeves in 3 generations rule and then follow their recipe.
Take your children... Supervise while they wash walls or floors. Explain cost of cleaning chemicals, water, material. Do this for three weeks.
The medieval Vatican City:
10% religion
90% money and power play
teachings of bible
@@smallcube-zn2mm thats the 10%
That's still the case; banco di Vaticana is one of the richest, most powerful banks in the world.
So basically 100% religion
@@onetwokaafour no, basically 99% money.
To this day, the name of the Pazzi family means "madmen" in Italian. That should be proof enough of the Medici family's power.
Damn that’s just downright disrespectful 😅
@@HowHistoryWorks That's the power of the Medici. The Pazzi were wiped out so completely that the Florentines started using their name as a synonim for madmen (as their last name was plural), in time it spread to the entire Tuscan language, and when Italy was unified Tuscan became the Italian language.
And now many who learn about them either pity them for their name or look up what the hell happened for that name to become what it is.
@@lordMartiyaWould you happen know any quality English speaking channels on Italian history, especially pre-unification and earlier? :)
😂Julius Caesar must be proud
Cesare Borgia did dirty for Giovanni
@@piuthemagicman No, sorry. I'm just a history buff from Italy.
I know of many individuals who were gifted assets when young that grew into a multi million dollar portfolio over time. I wonder if these people are considered self made millionaires????
Depends on the size of the assets. - In that vain the support Bill Gates was given by his parents did not match becoming the richest man in the world for a while.
Maybe it depends on how many zeros they added to the gift.
No.
No. 80% of millionaires were not given money by their parents.
Well if you can make thousands into million that is feat in it self
And Ezio Auditore witnessed everything.
😂
Omg I'm glad there is an assassins creed reference lol. I was looking for this.
"The first generation makes it, the second generation grows it, the third generation blows it."
-Bobby Axelrod, "Billions"
A few notes:
* "Pazzi" means "crazy", which is a name probably given by their unrestrained behaviour in the past;
* some people think that the Italian word "pazzo" for an insane person derives from that, but it was already in use before;
* regardless, their name was basically eradicated, with all the survivors forced to change name in order to survive;
* Strozzi and other main families used to compete in grandiose buildings and art in order to gain and affirm their prestige - that is what kickstarted the Renaissance;
* the "Medici" name comes in all likelihood from ancestors related to the medical profession and their heraldic symbol recalls that, with the circle in it representing pills.
On one-fifth of millionaires were handed wealth by their parents is misleading. How many first-time millionaires came from the upper middle class? That's what I want to know and address.
Yes those first lines were deeply sarcastic, I will try and lay it on thicker next time because you are right those figures are misleading at best.
Millionaire just means owning a house in the US.
Saw somewhere that the majority of entrepreneurs had some form of safety net usually by parents but could be generally family or spouse etc
My parents were poor immigrants, my brother and I are in the millionaire class… but a million dollars isn’t what it used to be.
@@raybod1775 A.k.a. inflation (and lots of it).
Worth noting: the actual Lehmans alive now grew up in their family's castle that was built back in the 1800s, having long ago cashed in their stake in the company- long before the company collapsed!
Something important the Medici family shows is that you need to defend your wealth. There will always be those who want to take your family's wealth and power. This is something that may have not been taught by first or second generation of family members.
I'm actually 4th generation from an oil tycoon. In our case it's definitely the 3rd generation that destroyed it, both got degrees and neither has a job and my parent was so bad it's left me permanently disabled. Thankfully Gen 1 & 2 at least tried to make sure we got some so I haven't had to go on disability yet but it's still barely more than minimum wage and I'm raising two children. The saddest part is that I'm a born entrepreneur (ran multiple businesses starting in childhood) but I'm not able to work anymore so chances of my kids getting anything are slim.
I am the ambitious one in my family, even though my sister is a lawyer; and I am a retired reserve officer and I.T. guy. My parents passed away decades ago, my sister and I are upper middle class. I googled alot about the Rockefellers, Vanderbilt, etc. And how they set up their trusts, I am planning to follow the Rockefeller model of setting up the trusts. Also googled what stocks always pays dividends. It came back with King Dividend and Aristocrat Dividend companies. Then I googled the holdings of the Rothschild family, and Warren Buffet. One European, one American. Cross referenced which companies they both own together. Then googled to streamline, which of these companies survived, the market crash of 1929; that led to the great depression. I am taking a new mortgage against my home (fully paid off). And leveraging that money into 4 companies I am investing in. All you need is four companies to invest in, every month during the year dividends are paid. Dont forget about the DRIP (Dividend ReInvestment Plan). Let the DRIP, do it's thing. All I am doing is following the beaten path, the Rothschild and Warren Buffet paved. I have an ETF I am investing in, that once I have a certain amount that I can pay off the new mortgage within 2 to 3 years. I can payoff the mortgage quickly, and start investing heavily into these specific companies. I once was engaged to a Cuban girl, and I would boast to her family; that I am going to be the Cuban Rockefeller. I haven't stopped believing in that goal, since I was 18 years old. I am not trying to brag or boast, just to advise you on a plan. I hope you get and feel better, good luck and good fortune to you.
Kind regards,
Ramon Rodriguez
Its most amazing because of how reckless you have to be to burn generational wealth. Just by investing you could live a affluent life from the returns and pass the fortune along
I'm a fan of Inter Milan Football club as well as being a fan of the De Medicis... A while ago after Marotta was appointed as a Chairman, I took a look at the pervious chairman list since the inception of the club and got shocked when I knew that between 1910 and 1912 the chairman was Carlo De Medici.
I searched about the guy but unfortunately nothing much was available about him.
Forza inter 🔵⚫
15:43 FUN FACT: Hannibal Lecter reenacts this hanging with Detective Pazzi in the movie "Hannibal"
Wait the mars bar is named for the family not the planet? Well i feel stupid!
Please correct me if I’m mistaken but I believe the Cosimo at 8:10 is not the same Cosimo at 8:18. They lived in different centuries (1400s and 1500s). The first Cosimo is considered the first power broker among the Medici. The latter Cosimo is the first Grand Duke of Tuscany I think.
The FitzWilliams of Wentworth woodhouse, one of the richest families in the United Kingdom, when their coal mines were nationalised and the government of the day intent to make an example of the rich lost everything due to taxes and loss of income. In the end had to auction of the items in the house and then selling the house itself. I think it will make a fascinating episode or a mini series of the tale of the fall of the owners of the largest private homes in the UK
The dug up Cosimo's remains and removed his clothing, and his burial clothes are on display in the Palazzo Pitti. Still shows bodily fluids from decomposition.
How did is that?! Couldn't leave him alone.
8:07 How did Giovanni get his money? Turtles all the way down, isn't it? (Rich dads all the way up?)
Brilliant work!
The fallacy of free market capitalism is that capitalists are opposed to the idea of competition. Oil, auto, tech corporations are not competing, they are price-fixing.
That's a nice history lesson, but you didn't really delve into the topic of HOW to preserve the family wealth 500+ years into the future and increase power and influence. Do a dedicated video on that!
Dear editor, you lost the chance to add an Assassin's Creed 2 reference in the second half of this video kkkkkkk 😅
6:40 the image is of Venice, piazza san marco
My etate plan forces my heirs to run a foundation and spend most of it on research and charity. While they can cut Some out for themselves creatively, They'll have to make their own money if they want to spend it on hedonism. Take that kids 😂!
Thanks for the awesome content and all the amazing videos!!
Thank YOU for watching them :)
Florence was NOT a "democracy". It was, however, a republic until 1569 when it was turned into the Grand Duchy of Tuscany.
The second generation wants comfort and to maintain an image, the third wants to enjoy and go out and I personally like order and productivity.
I never met the first generation, but wanting the opposite of what the previous generation has seems to make you poor, childish impulse.
Well, the UK has the Florentines beat. Many of the wealthiest families in the UK descend directly from the men who helped William the Conqueror become king of England in 1066.
Most modern ultra rich people did not come from the destitute they came from families that where at least middle class if not upper class but not from the ultra wealthy. The reason is you need some resources as the seed as a start but you also need to be raised where you are challenged to better your self so if you are born as the idle rich you wont be challenged. The vast majority of the rags to riches stories come from people who's parents where middle class they just down play that their parents where middle class and not from the destitute.
As for back before the modern era only the first born son inherited, everyone else got jack squat. If his father had not sold off his sisters before his death to gain more power he would do it. If his brothers wanted to live the good life they had to brown nose to their older brother to get a good job with him. Of course if he thought that they where of any threat to him what so ever he would make sure that they where kept as far away from him as possible if not killed off that does not look to suspicious. You didn't want to hurt your good families name if it can be at all avoided.
Good video exept for... "archbishop of pizza" 😂
The "x % of millionaires are self-made" is highly misleading. (I think you used it sarcastically)
It implies that the chance of becoming a millionare is equal for those from wealthy and poor families alike.
What it fails to account for, though is that 99% of the general population is not "wealthy" or "super rich" (that number may vary).
If we thus assume that only 30 or 40% of millionaires are from wealthy families, then that still means they are overrepresented by a factor of 40 in the millionaire category.
Don't forget the side saddle...once designed for Maria de Medici 😉
It matters a lot if your mommy and daddy are educated folk or methheads😂
It matters if you have been educated or traumatized,
It matters if you have the drive or the fear of evolving.
There is actually statistics backing up the wealth rotation, but not inter-generational. With the same individuals. Most people in America will be poor, middle class and upper middle class at some point in their lives, even if just for a year. When you said that many of the wealthy families from centuries ago are still in the top 10%, that doesn't sound very impressive after having been the wealthiest people in the world.
This entertained me so much more than Rings of Snooze
I read somewhere that most of the great family fortunes from the old days came from Piracy
Or… you know, wealthy people of access to resources to obscure the disposition of their wealth-such as trust funds that are under a management of a law firm or financial manager and under orders not to distribute more than a certain amount over a specific period of time, thus allowing the descendants to live without worries and grow wealth separately because they don’t have to worry about silly thing like utilities, rent, etc.
16:16 lorenzo survived because he was protected by Ezio Auiditore da Firenze
The super rich are not self made wealth begets wealth.
Florence was a Republic not a democracy, it's not totally the same things. A republic may be or not democratic. Republic system, only mean the chief of the government or state is chosen after an election, nothing more. For Florence, it was elected by a few electors from members of wealthy and powerful family from the city, the people have no voice at all.
At almost the same time, you have the family Beretta who sell is first Artillery gun to the Republic of Florence, the Family is still in charge of the company today, and their bank account is doing well. The bill of this first sell to Florence is still in the archive of the company.
Depends on the generations I guess. Some families keep wealth better tnan others
I like how all your thinking revolves around the idea that all human history related to wealth revolves around Europe and America - its rather cute but history has far more show and excite us with when it comes to how wealth can be retained and passed on across generations. But as you were lad - interesting video.
Thank you, for Sharing This Great Data, on The Medici Families, 🌹🌹🌹🌹🌹💎👑💯🤔.
Ah yes, one of those videos where I end up thinking "what was the point again?"
Somehow Cosimo returned is underrated 💀
I've heard stories in germany of smart people they start poor, then become billionaire.
You sound different today. Do you have a cold?
lol
Too many scones and cups of tea I’m afraid
@@HowHistoryWorkswhat happened to the other guy?
AI voice.
Rags to rags in three generations are true for most rich people we see in our neighborhood but this ultra rich like billionaires are not same as normal rich people we see .
Does it take in to account the richest women who got their money through divorce? Since those women were not raised with the money the husbands had do they count for or against? curious.
Funny considering that most of these self made billionaires got some sort of starting fund from their family.
It is interesting how much happens in the mind before it works out in practice. The attitude that we have made it and can now take it easy, signals the decline that is to come. Similarly, the hunger and ambition that leads to hard work and results in wealth starts internally. No one but the person himself/herself can make and see through those decisions for effort and sacrifice. Wealth creation and expansion does not happen unless those sort of decisions are made. And such decisions always start within the person and must be made by each generation in turn.
My grandma's last name is "the rich". She is not rich. Probably someone in the family was.
Bill Gates was not self made, Elon not self made, Amazon not self made etc
a collab with jack rackham, it would be great
Why do all billionaires dance so f**king weird?! I'm starting to think it's an inside joke. Like a secret handshake or their version of wazzuuuup!
The captions have spoken.
All hail the Archbishop of Pizza! 🍕
Grandpa was a millionaire. We broke
As money ages, it disappears from sight. It appears as though most of the rich are self made is because new money is much more easier to track. The statistics that are the foundation of this video are highly skewed. They wealthiest people in the world are not known to the general public.
You text to voice engine has stereo defaults btw.
I love assassin'a creed 2
it is not the haves and have nots - it is the haves and have mores!
If the narrator is just a voiceover actor then someone wrote this line @5:46 and he had to read it. . . thats fucked.
Edit: he wrote the line ignore my hand wringing.
Its ok bro, I did both ;-)
@@StoryJerk Phew! Lol
I laughed . . .and then thought about it for a second. Self depreciation is funny. Someone else writing a self deprecating joke for you. . .not so much.
Well taxes and government are fuck all . Property tax, income tax, capital gains tax, inheritance tax.. et al
This comment section just shows how many you’re thinking will keep most of you poor and broke. I am a self made man working on my first million dollar company and everyone I know that is successful and owner of their own business are left made and had to work hard. But keep thinking that I had a Breyer life then you sure 😅
I wonder what country this is about. In north America if you're rich, odds on you inherited
Those Forbes type of lists are never accurate.
Look at S Korea
I'm always curious how elites compare with other elites. How does upper middle class blokes react if they strike a ceiling, how do high-level administrators compare salaries etc.
"strike a ceiling"? what does that mean? And what does it matter?
@@Hanniah--Heart Like what the upwards mobility of a place is like. Not just for the underclass and working class, but for middle class people with upper class ambitions.
Red Priest Medici, i wonder what if the head of that family is a woman before he ingest hunter potion? Hehehe
~Lord of mysteries
LOTM fan spotted in the wild 😮
Idk, in my family, the first generation gained wealt, and manaed to lose it all in the same generation, funnn...😂😂😂😂
I know you felt like you had to mention tRump, but come on.
FYI it’s pronounced Leeman not Layman
ai voice ?
Ok which assassination was carried out by ezio?
Can’t tell if that was supposed to sound AI-voiced but it was really off-putting. Like you kept speeding up what they were saying? Not sure.
Been playing a lot of Assassin's Creed II?
😂
Pazzy sound like patsies
Is there something wrong with our ears, or has the dubber changed, or rather, a new dubber has been hired? I don't mean it negatively, I'm just asking...
Please history book review of priciples of debt crisis by ray dalio, free pdf
18:10
Who the hell is this narrator
Nice notes, pity no mention of the Rothchilds.
10:48 oh... I get it!!!! 😅
What is there to get?! Nothing going on here!
Chinese proverb, 富不過三代
I don't get it the change of voice. This voice is sooooooooooooooooooo terrible!!!!!
Your narration is not good the topic is really good but.... There something which is a set off
Was this just Trump propaganda? 😂 (mostly at the end)
The number of family members doesn't correlate with importance. They don't have money compared with the average millionaire. And their political will disappear along with other political families in 4 or so years (his kids ain't that bright either)
Wow
18:00 Didn't mention Clintons or Kennedy, sad.
1:17 Trump definitely is.
😂