The wealth that inheritors receive from parents or grandparents is often accompanied by feelings of self-doubt and guilt. Many inheritors have a great desire – a need, even – to justify their wealth and prove to those around them that they deserve all that unearned money.
This drive for legitimacy can empower inheritors to achieve great things – but it can also come with a dark side that creates wealth-destroying problems.
- Some inheritors feel guilty about their wealth and feel intense pressure to justify their good fortune.
- Building and running highly successful companies can help inheritors feel a sense of worthiness.
- Engaging in meaningful philanthropy is another way for some inheritors to gain legitimacy.
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