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Someone who has inherited wealth is often referred to as an "heir" or "heiress," depending on their gender. They may also be called a "beneficiary" if they receive assets from a trust or estate. This term highlights their status as individuals who have come into wealth through family lineage rather than personal earning.

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1mo ago

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What does it mean when someone says that a person has 'old money'?

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poverty is when someone is poor and wealth is when someone is rich.


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Toms wealth is known as "Old Money" which means he inherited it. Gatsby's is known as "New Money" which means he earned it.


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His opinion on inherited wealth is often critical, viewing it as a mechanism that perpetuates inequality and limits social mobility. He believes that wealth should be earned through individual effort and merit rather than simply passed down through generations. This perspective emphasizes the importance of hard work and personal achievement over entitlement. Ultimately, he argues that inherited wealth can hinder societal progress by concentrating resources in the hands of a few.


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