“Let me tell you about the very rich. They are different from you and me. Even when they enter deep into our world or sink below us…They are different. ” -F. Scott Fitzgerald, Author of “The Great Gatsby.”
When F. Scott Fitzgerald penned these words in one of his short stories, fellow author Ernest Hemingway reportedly quipped “Yes, they have more money.”
Literary anecdotes aside, a recent study summarized in “Knowledge at Wharton” looked at the “ lifecycle dynamics of the richest individuals using high-quality data….there are two types of super-rich: the Old Money, with parents that are rich, and the New Money.”
Old Money or New Money, what makes them different? “How the Wealthiest Got to Where They Are” will explain it for you.