Wealth rarely lasts much beyond the grandkids — but not for the Rockefellers. Here's why. via CNBCMakeIt
In many cultures, there is an age-old saying that wealth is made and lost in three generations. In the U.S. we say,"shirtsleeves to shirtsleeves in three generations," and in Japan it's"rice paddies to rice paddies in three generations."
Even more unlikely, however, is that the family has remained largely united, without the public scandals, feuds, lawsuits and tragedies that typical plague other gilded dynasties. There are now over 250 members of the family who are direct descendants of John D. Rockefeller and Laura Spelman Rockefeller.
No longer having a family business is important as well, says Rockefeller. Many of the disputes within rich families start over business — who should run it, how it should be run, and who should benefit. The strongest glue keeping the Rockefeller family together is family values, specifically philanthropy. Their various family foundations, including the Rockefeller Foundation, the Rockefeller Brothers Fund and the David Rockefeller Fund have a combined endowment of over $5 billion.
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