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Then he will become an idiot, without capital, whats your point?

The point is one might luck into getting rich. Staying rich requires some intelligence, or you're going to make poor decisions. This is even true of dynastic wealth.

One example: https://www.independent.co.uk/news/obituaries/huntington-har...

No. You can be extremely frugal while stupid as hell.

Not so. The reality is that his family banker will invest the money in an index fund like S&P500 for him and then he will see it compound a predictable 10% or so every year, becoming increasingly wealthy without ever having to lift a finger or exercise a single neuron.

More likely the banker will invest it in low performing actively managed mutual funds and slowly drain 1-2% in additional "management fees" out of him...

If you're getting a predictable 10% from your investments, you're investing in a different SPY than I am.