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Yep, the Chinese has exactly the same saying -- even the same number of generations.

I hope she gets some $$ back though.

Let's just ignore thousands of European noble families and wealthy industrial tycoon dynasties.

Any examples? I’m not really aware.

Just a google search away, but the most obvious, british, spanish, dutch royal families, Habsburgs, Thurn und Taxis, hundreds more, also from business life. This "wealth switches hands often" thing is a wise-sounding dumbness, wealth gets more and more concentrated in the world, and is usually only redistributed in event of war and conflicts.

Rothschild

"This" -- do you mean theft and abuse are the reasons why? Or debilitating illness (HIV/Cancer).

She was tricked. The money wasn't physically taken. She lost the money because, unlike she claims, she is indeed a moron.

It's not an uncommon expression on managing generational wealth. I've frequently encountered it as:

"The first generation makes it, the second generation spends it, and the third generation blows it."

In English we have "shirtsleeves to shirtsleeves in three generations".