The podcast host said that most great wealth, especially in terms of billions of dollars, is most often found through inheritance rather than individuals who work their way up to it.
“There’s a huge history of people inheriting wealth particularly like second, third, fourth generation,” Weiss told host Jansons on the Lake Forest podcast. “And not understanding how the wealth was made.”
“You know, one of the wealthiest people in Illinois now is one of Sam Walton’s grandchildren,” Weiss said. “Sam Walton’s turning in his grave that his grandson’s giving all his money to a party, who when Sam Walton was starting his business, the business wouldn’t have taken off!”
This full episode is available on Apple Podcasts and Spotify.
The January 13 edition of the podcast focused on the Illinois Trust Act, and it’s impact and implications on the community.
The Lake Forest podcast is hosted by Pete Jansons, an entrepreneur with a background in neuroscience, Rick Lesser, an attorney and former village trustee, and Joe Weiss, who has experience in multiple government and public service positions. The podcast covers topics and politics impacting the area around the city of Lake Forest, according to the Lake Forest podcast website.
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