Why 70% of Wealthy Families Lose Their Wealth

How come it's always - one generation builds an empire, the second just about keeps it and the third one throws it away?

At least 70% of wealthy families will lose all their wealth by the next generation, with 90% losing it the generation after that. Sustaining substantial wealth takes a lot of financial savviness, hard work, competence and motivation but most rich parents don’t pass any of these down to their heirs.

Why?

Now you might think you already know the answer, oh the fortune gets split up amongst so many people that it’s spread so thin. But that’s not entirely true…

What’s more is that the real reason for the fall of these financial empires can help us understand money, how it works and how to effectively pass it down through the generations.