Why Do Family Fortunes Disappear?

Photo by Bekir Dönmez on Unsplash

John D Rockefeller was the richest American to ever live, as well as being the founding member of the three-comma club as the world’s first billionaire. At the height of his fortune a few years before his death he was worth an estimated 1 billion dollars which may not sound like much compared to today’s tech bros, but this was back in a time where the USA’s annual GDP was only 39.1 billion dollars. This meant that his fortune was…