[pc86]

This is it, it's absolutely a filter beyond a certain point. I have a family member, far enough removed I'll never see any of it, that sold a business in his early 30s for something like $35-40M. Set his kids up for life with trusts, bought some toys and a second home, and been just sort of hanging out ever since (this was 15-20 years ago). He's happy, has a ton of hobbies, and if you ever suggested he start another business or start putting his name on cap tables he'd laugh his ass off. It would never even occur to him that he should try to double, triple, 10x his money, because he already has 10x more than he'll ever spend.

And for what it's worth his kids are remarkably well adjusted and nice, if a little bit out of touch about what most people deal with.

[throw2ih020]

Same, my father was a doctor and had tons of doctor friends from med school and work. Pretty much all of them just cared about 1. making sure the family was provided for and had excellent education, 2. patient outcomes and 3. being comfy at home.

[sleight42]

Whereas I have an uncle, a retired CEO, with perhaps the same amount of money. The man is a monster. However, per my cousin, I can't say for sure just when that nature revealed itself but certainly no later than 20 years into his career.

[senordevnyc]

I totally understand the point you're trying to make, but also...if your friend put their $40M in an S&P500 index 20 years ago, it'd be worth $238M today. So more like 6x rather than 10x, but still, not bad.

[throw2ih020]

The people I know personally with that level of wealth will typically set up family trusts to do that and manage how the wealth is distributed to the family, generally some stipend for living expenses + covering education and healthcare costs. The original people setting up the trust give up direct access to that portion of the money for the benefit of their heirs and beneficiaries. i.e. it's no longer "their" money in the personal sense.