alt Hacker News富不过三代 Wealth does not last three generations.
Most of America (at least west and east coast) is at this stage now. Look no further than startup culture were people have convinced themselves that repeated embarrassing failure is actually a sound investment strategy. This is the environment children are growing up in, of course they will all grow up to be embarrassing failures.
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I feel like there's a sweet spot of wealth that is generationally sustainable, which I would say is in the middle and upper-middle class brackets. Just like with any human activity, the amount of work required for the payoff has to be in the sweet spot. Too rich, and not enough work is required for the offspring to stay engaged enough to surmount the hurdles all human face. Too poor and the opportunities just aren't there.
That may be the idiom, but evidence suggest otherwise.
See Gregory Clark's The Son Also Rises (2014), tracking intergenerational wealth in England, the United States, Sweden, India, China, Taiwan, Japan, Korea, and Chile:
<https://en.wikipedia.org/wiki/The_Son_Also_Rises_(book)>