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Thursday, October 30, 2014

Old money families

Old money is any person or family possessing inherited wealth. Generally it is said shirtsleeves to shirtsleeves in three generation. In other cultures it is said from clogs to clogs in three generations. Similar proverbs convey the same meaning across different cultures.

But there are some old money families who have inherited huge assets. The major portion of old money family comes from landed aristocracy in Europe and other parts of world. The political power of aristocracy doomed as prices of agricultural product fell.
Maintaining old money has become more and more difficult as inheritance taxes has been levied in many countries. Below is a list of some of the families who successfully managed to keep their fortunes in family over a large period of time.

Old Money in United States

Rockefeller family
Rockefeller family fortune was made during late 19th and early 20th century. They made their fortune from oil industry primarily through Standard Oil.

Du Pont family 
Du Pont family has been ranked as richest families of United States by Forbes magazine. Their wealth dates back to mid 1800s.

Forbes family
Forbes family acquired its riches from trading between North America and China. This is an influential family whose members are active in American politics. Well known name is John Kerry, who is United States secretary of state.

But old money in United States is not too old. Below is a list showing old money families from various parts of world.

Old money in other parts of world. 
Old money in other parts is too old. Some claim that their fortunes were made during 12th century.

Spinola family of Genoa
Spinola family is an Italian family. It remained powerful during thirteenth century. Castle Tassarolo is their residence. Their fortune successfully survived many centuries.

Goulaine family
 This is old money French family.
This family owns Ch√Ęteau de Goulain for more than 1000 years.

Royal family of Udaipur. 
This family is world's oldest serving dynasty in India.

Scindia family of Gwalior 
This was ruling family of princely state Gwalior. Jyotiraditya Madhavrao Scindia is known to own more than 3 billion us dollars. This family is prominent for more than 270 years.

Rathor family of Jodhpur.
 This is another royal family from India having fabulous wealth for many generations.

House of Thurn and Taxis
This house is from Germany. The family is known for breweries and building castles. The head of the family has been listed as billionaire many times.

House of Hanover
Prince Ernst August is current head and is estimated to own 500 million pounds.

Nawab of Bahawalpur.
 The abbasi family of Bahawalpur governed princely state until their powers were abolished. This family owns many properties. The Punjab University building was gifted by this family. Sadiq Garh Palace in Dera Nawab Sahib was built by this family.


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