On: Ask HN: Why aren't there any families with a trillion dollars in assets?

[grimtrigger]

There's a saying my mom used to say: "money never makes it past the third generation". The idea is that if you grow up wealthy, you don't have the skills/drive necessary to keep that wealth going.

[ArkyBeagle → grimtrigger]

"Shirtsleeves to shirtsleeves in three generations".

I always took that as an estimate of the lifespan of a firm. If that firm lasts beyond that, it's been reengineered to be relevant.

[webmaven → ArkyBeagle]

I always heard that as "rags to riches to rags in three generations".

[ArkyBeagle → webmaven]

That too :) Either is nicely snappy.