How Much Money Is the Manley Family Worth

Grade of the rich, who have been able to maintain their wealth across multiple generations

Look up vieux riche in Wiktionary, the free dictionary.

Old money is "the inherited wealth of established upper-class families (i.due east. gentry, patriciate)" or "a person, family, or lineage possessing inherited wealth".^[ane] The term typically describes a social form of the rich who have been able to maintain their wealth over multiple generations, ofttimes referring to perceived members of the de facto aristocracy in societies that historically lack an officially established aristocratic form (such as the Us).

United states of america [edit]

Wealth—assets held by an individual or past a household—provides an of import dimension of social stratification because it can laissez passer from generation to generation, ensuring that a family'southward offspring will remain financially stable. Families with "erstwhile money" employ accumulated avails or savings to bridge interruptions in income, thus guarding against downward social mobility.^[two]

Old money was typically associated with White Anglo-Saxon Protestant ("WASP") status.^[3]

"Old coin" applies to those of the upper course whose wealth separates them from lower social classes. Co-ordinate to anthropologist W. Lloyd Warner, the upper class in the The states during the 1930s was divided into the upper-upper and the lower-upper classes.^[iv] The lower-upper were those who did non come from traditionally wealthy families. They earned their money from investments and business, rather than inheritance. Examples include John D. Rockefeller, whose father was a traveling peddler; Cornelius Vanderbilt, whose father operated a ferry in New York Harbor; Henry Flagler, who was the son of a Presbyterian minister; and Andrew Carnegie, who was the son of a Scottish weaver. In contrast to the nouveau riche, the upper-upper course were families viewed equally "quasi-aristocratic" and "high club".^[4] These families had been rich and prominent in the politics of the U.s. for generations. In many cases their prominence dated since before the American Revolution (1765–1783), when their ancestors had accumulated fortunes equally members of the aristocracy planter form, or equally merchants, slave traders, ship-owners, or fur traders. In many cases, especially in Virginia, Maryland, and the Carolinas, the source of these families' wealth were vast tracts of land granted to their ancestors by the Crown or caused past headright during the colonial period. These planter course families were often related to each other through intermarriage over the by 300 years, and are sometimes known as American gentry. They produced several Founding Fathers of the United States and a number of early presidents of the U.s.. An example of this social class was George Washington, who had an estimated net worth of $525 million (in 2016 dollars) due to his vast holdings of country and slaves making him the 2nd wealthiest man to serve as President of the Usa.

After the American Ceremonious War (1861-1865), many in this social class saw their wealth greatly reduced. Their slaves became freedmen. Spousal relationship forces under Generals William Tecumseh Sherman and Philip Sheridan had also cutting wide swaths of destruction through portions of Virginia, the Carolinas and Georgia. They destroyed crops, killed or confiscated livestock, burned barns and gristmills, and in some cases torched plantation houses and fifty-fifty entire cities such as Atlanta. They were using scorched earth tactics, designed to starve the Confederate States of America into submission. After the Thirteenth Amendment to the Us Constitution (1865) and the emancipation of the slaves, many plantations were converted to sharecropping. African American freedmen were working as sharecroppers on the same land which they had worked as slaves earlier the war. Despite the fact that their circumstances were greatly reduced, the enactment of Jim Crow laws and the disenfranchisement of freed black people immune many planter course families in the Southern United States to regain their political prominence, if not their nifty wealth, following Reconstruction (1863-1877).

In the early 20th century, the upper-upper grade were seen equally more prestigious than the nouveau riche fifty-fifty if the nouveau riche had more wealth.^[4] During the late 19th century and early 20th century, the nouveau rich flaunted their wealth by building Gilded Age mansions that emulated the palaces of European royalty, while old money was more conservative. American "Onetime money" families tend to adhere to various Mainline Protestant denominations; Episcopalians^[5] and Presbyterians are the most prevalent among them.^{[half dozen]}

Some families with "onetime money" include:

• The Byrd Family of Virginia is descended from William Byrd I who received a 1,200-acre (4.9 kmⁱⁱ) grant on October 27, 1673 at the fall line of the James River that would subsequently become the site of Richmond, Virginia.^[7] Byrd'south son William Byrd II of Westover Plantation who inherited the country was an American planter and writer from Charles City County in colonial Virginia. He expanded his holdings to approximately 179,000-acre (720 kmⁱⁱ) and founded the City of Richmond.^[viii] Although much of the family unit'south wealth was squandered during the 18th century by William Byrd Three through gambling and bad investments, descendant Richard Evelyn Byrd Sr. became wealthy as an apple tree grower in the Shenandoah Valley and publisher of the Winchester Star paper. He was elected to the Virginia Firm of Delegates in 1906 and served as Speaker from 1908 to 1914. His son Harry Flood Byrd was elected the 50th Governor of Virginia in 1925, and later on served in the US Senate until his retirement in 1965. Byrd, controlled a Democratic political auto known as the Byrd System that dominated Virginia politics for most of the 20th century.^[9] Byrd was succeeded in the Usa Senate past his son Harry F. Byrd Jr. who served until 1981. The family also produced early Ohio political leader and jurist, Charles Willing Byrd,^[10] and polar explorer, Rear Admiral Richard E. Byrd.
• The Carter Family of Virginia is descended from Robert "King" Carter, of Lancaster County, who was a planter, businessman and colonist in Virginia and became one of the wealthiest men in the colonies accumulating over 300,000 acres of land. Every bit President of the Governor's Council of the Virginia Colony, he was acting Governor of Virginia from 1726 to 1727 after the death in office of Governor Hugh Drysdale.^[11] He acquired the moniker "King" due to his great wealth, political ability, and autocratic business methods. His many notable descendants include: Robert Burwell, a member of the Virginia House of Burgesses,^[12] Robert Carter Three, who sat on the Virginia Governor's Council, Carter Braxton, a signer of Declaration of Independence, Isle of man Folio a Virginia delegate to the Continental Congress in 1777, Confederate States Ground forces General Robert E. Lee, Confederate Regular army first lieutenant Robert Randolph Carter, John Page, the 13th Governor of Virginia, Thomas Nelson Folio, who served as US ambassador to Italia during the Woodrow Wilson assistants, and civil engineer and industrialist William Nelson Folio.
• The Randolph family unit is descended from William Randolph, an American colonist who accumulated a vast fortune including over xx,000 acres (81 km2) of land as a planter and merchant, and played an important role in the history and government of the English colony of Virginia. He arrived in Virginia onetime between 1669 and 1673, and married Mary Isham a few years later.^{[xiii] [14]} Randolph's descendants have included many prominent Americans including U.Southward. President Thomas Jefferson, U.Southward. Master Justice John Marshall, Confederate Full general, Robert Due east. Lee,^[15] Peyton Randolph, the first President of the Continental Congress, and Edmund Randolph who served as the seventh Governor of Virginia, the 2nd US Secretary of State, and the first U.S. Chaser General as well equally many other notable individuals in Virginia and U.South. politics.
• The Roosevelt family unit of Manhattan arrived from the netherlands as colonists in the 17th century and later on became prominent in business and politics. Ii distantly related branches of the family unit from Oyster Bay on Long Island and Hyde Park in Dutchess County rose to national political prominence with the elections of Presidents Theodore Roosevelt (1901–1909) and his 5th cousin Franklin D. Roosevelt (1933–1945), whose married woman, Kickoff Lady Eleanor Roosevelt, was Theodore'due south niece.
• The Cabots arrived in Salem from the Isle of Jersey in 1700 and made fortunes in shipping. At the historic period of 21, Godfrey Lowell Cabot (run across Lowells below) founded the Cabot Corporation, the largest producer of carbon blackness in the land.
• The Lowell family are descended from Boston colonists. Francis Cabot Lowell began the fortune in aircraft and later textiles. The family has produced several noteworthy individuals, including Abbott Lawrence Lowell, who presided over Harvard for 24 years.
• The Du Pont family unit fortune began in 1803, only they became an extraordinarily wealthy family by selling gunpowder during the American Civil State of war. By Earth War I, the DuPont family produced virtually all American gunpowder. In 1968, Ferdinand Lundberg declared the Du Pont fortune to be America's largest family unit fortune.^[16] As of 2008^[update] Eastward. I. du Pont de Nemours and Company ranked 81st on the Fortune 500 list of the largest U.S. corporations.^[17]
• The Forbes family unit of Boston made their fortune in the shipping and later railroad industries equally well every bit other investments. They have been a prominent wealthy family in the United States for 200 years.
• The Astor family made their fortune in the 18th century, through fur trading, real manor, the hotel manufacture and other investments.
• The Harrison of Virginia is an American political family unit, of the Commonwealth of Virginia, whose directly descendants include a Founding Father of the United States, Benjamin Harrison V, and three U. S. presidents: William Henry Harrison, Benjamin Harrison, and Abraham Lincoln. The Virginia Harrison family consists primarily of two branches with origins in northern England. I branch, led by Benjamin Harrison I, journeyed by way of Bermuda to Virginia before 1633 and settled along the James River where they became wealthy planters; they are oft referred to as the James River Harrisons. Successive generations of this co-operative served in the legislature of the Colony of Virginia, including Benjamin V, who was a signatory of the Declaration of Independence and subsequently governor of Virginia. This branch of the Harrison family produced President William Henry Harrison, Benjamin V's son, and President Benjamin Harrison, William Henry'southward grandson, as well as another Virginia governor, Albertis Harrison. The family unit too includes 2 Chicago mayors and members of the U.S. House of Representatives and the U.S. Senate. The other branch of the Virginia Harrisons emigrated from U.k. to New England in 1687 and moved south to the Shenandoah Valley of Virginia fifty years afterwards; they were led by Isaiah Harrison. This co-operative nearly likely descended from an interim clergyman of the Jamestown Colony, Rev. Thomas Harrison, who was kindred to the James River Harrisons, but by 1650 had returned to England. President Abraham Lincoln descended from the Shenandoah Valley Harrisons, as did entertainer Elvis Presley. This branch of family also included the founders of Harrisonburg and Dayton and medico J. Hartwell Harrison who was office of the medical team that achieved the world's offset successful kidney transplant surgery.

• The Griswold Family unit of Connecticut made their fortune in aircraft, cyberbanking, railroads, and manufacture. They have been prominent in American politics, producing five governors and numerous senators and congressmen.
• The Hartwick family is of mainly English and High german descent, and their ancestry and fortune predates the American Revolution. The Hartwicks have produced several politicians and military generals, such as Edward Hartwick. By World War I, the family unit controlled nearly of the lumber in the Us. The Hartwick's philanthropic works include the founding of Hartwick College, and Hartwick Pines Country Park.
• The Pitcairn family of Philadelphia made their fortune in chemic production and plate glass. Established a Trust Co. That continues to support fifth and 6th generation members. They were amid Eisenhower and Nixon's largest supporters and regularly support the music and arts in Philadelphia and New York.
• The Van Leer family of Pennsylvania made their fortune in the iron business. They have been prominent in academia, concern and American politics. Descendants include successful entrepreneurs, governors, congressmen, university presidents and academy founders.

Although many "old money" individuals do not rank equally loftier on the list of Forbes 400 richest Americans as they one time did, their wealth continues to abound. Many families increased their holdings past investment strategies such equally the pooling of resources.^{[eighteen] : 115} For example, the Rockefeller family unit's estimated cyberspace worth of $1 billion in the 1930s grew to $eight.5 billion past 2000—that is, non adjusted for inflation. In 60 years, four of the richest families in the Usa increased their combined $2–four billion in 1937 to $38 billion without holding large shares in emerging industries. When adjusted for inflation, the actual dollar wealth of many of these families has shrunk since the '30s.^{[eighteen] : 115 [xix] : 2}

From a private wealth manager'southward perspective, "old money" can be classified into two: active "former coin" and passive "former money". The erstwhile includes inheritors who, despite the inherited wealth at their disposal or that which they can access in the futurity, choose to pursue their ain career or set up their own businesses.^[twenty] Paris Hilton and Sir Stelios Ioannou are examples of this category. On the other hand, passive "old money" are those who are the idle rich or those who are non wealth producers.^[20]

"Old money" contrasts with the nouveau riche and parvenus. These fall under the category "new money" (those not from traditionally wealthy families).

Europe [edit]

The Rothschild family, as an example, established finance houses beyond Europe from the 18th century and was ennobled by the Habsburg Emperor and Queen Victoria. Throughout the 19th century, they controlled the largest fortune in the world, in today's terms many hundreds of billions. The family unit has, at least to some extent, maintained its wealth for over two centuries. The Rothschilds were not, notwithstanding, considered "old money" by their British counterparts. In U.k., the term more often than not exclusively refers to the landed gentry, commonly the aristocracy and nobility who traditionally live off the land inherited paternally.^[21] The British concept is analogous to good lineage and information technology is non uncommon to observe someone with "old money" who is actually poor or insolvent.^[22] By 2001, however, those belonging to this category—the aristocratic landowners—are still role of the wealthiest list in the Great britain.^[23] For instance, the Knuckles of Westminster, by fashion of his Grosvenor estate, owns large swaths of properties in London that include 200 acres of Belgravia and 100 acres of Mayfair.^[24] In that location is likewise the case of Viscount Portman, who is the owner of 100 acres of land due north of Oxford Street.

In France, the "200 families" controlled much of the nation's wealth after 1815. The "200" is based on the policy that of the 40,000 shareholders of the Banking company of France, only 200 were allowed to nourish the annual meeting and they cast all the votes.^[25] Out of a nation of 27 1000000 people, only 80,000 to 90,000 were immune to vote in 1820, and the richest one-quarter of them had ii votes.^[26]

Influences on popular culture [edit]

The ITV television series Downton Abbey oft contrasts the differences between Onetime Money and New Money in Uk during the early 20th century. Notably between the newspaperman Sir Richard Carlisle and the heiress Lady Mary Crawley, the distinction being the aggression of the parvenu Sir Richard and the noblesse oblige of the Crawleys.

Perhaps the nigh famous critique of the tension betwixt Erstwhile Money and New Money in American literature can be plant in F. Scott Fitzgerald's The Peachy Gatsby. The characters in possession of former coin, represented by the Buchanan family (Tom and Daisy), get abroad with murder; while those with new money, represented by Gatsby himself, are alternately embraced and scorned by other characters in the book. Fitzgerald vastly critiques people in possession of old money through his narrator Nick Carraway: "They were careless people, Tom and Daisy—they smashed up things and creatures and and so retreated back into their money or their vast abandon or whatever it was that kept them together, and let other people make clean upward the mess they had made."

See too [edit]

• American gentry
• Aristocracy
• Black elite
• Gentry
• Grand Burgher (German Großbürger)
• Hanseaten (form)
• High culture
• La Stardom
• Landed gentry
• Mentifact
• Nobility
• Nouveau riche
• Parvenu
• Patrician (postal service-Roman Europe)
• Social environment
• Social status
• Status–income disequilibrium
• Symbolic majuscule
• Rentier commercialism
• White Anglo-Saxon Protestant

References [edit]

1. ^ "Old Money" The American Heritage Dictionary of the English Linguistic communication, Fourth Edition. Houghton Mifflin Company, 2004. 5 Nov. 2008. Dictionary.com http://dictionary.reference.com/browse/oldmoney
2. ^ Scholz, Claudia W.; Juanita M. Firestone (2007). "Wealth". In George Ritzer (ed.). Blackwell Encyclopedia of Sociology. Blackwell Reference Online. Malden, MA: Wiley-Blackwell. ISBN978-1405124331.
3. ^ Irving Lewis Allen, "WASP—From Sociological Concept to Epithet", Ethnicity, 2.2 (1975): 153-162.
4. ^ ^{a b c} Warner, William Lloyd (1960). Social Form in America: A Manual of Procedure for the Measurement of Social Condition . Harper & Row.
5. ^ Ayres Jr., B. Drummond (19 December 2011). "The Episcopalians: An American Elite With Roots Going Back to Jamestown". New York Times . Retrieved 17 August 2012.
6. ^ Davidson, James D.; Pyle, Ralph E.; Reyes, David V. (1995). "Persistence and Alter in the Protestant Establishment, 1930-1992". Social Forces. 74 (i): 157–175 [p. 164]. doi:ten.1093/sf/74.1.157. JSTOR 2580627.
7. ^ Evans, Emory G. "William Byrd (1728–1777)". Encyclopedia Virginia. Retrieved 5 July 2019.
8. ^ Dabney, Virginius (1990). Richmond: The Story of a City: Revised and Expanded Edition. Charlottesville, Virginia: University Press of Virginia. p. 19. ISBN0813912741. OCLC 20263021. At Google Books.
9. ^ Frank B. Atkinson (2006). Virginia in the Vanguard: Political Leadership in the 400-yr-onetime Cradle of American Democracy, 1981–2006. Rowman & Littlefield. p. 7. ISBN9780742552104.
10. ^ Evans, Nelson Wiley; Emmons B. Stivers (1900). A History of Adams Canton, Ohio: From Its Primeval Settlement to the Present Time, Including Character Sketches of the Prominent Persons Identified with the First Century of the Country'southward Growth ... E B. Stivers. pp. 526–527; J. W. Klise stated that Byrd began his legal education with his uncle. J. W. Klise, ed., State Centennial History of Highland County, 1902; 1902. Reprint. Owensboro, KY: Cook & McDowell, 1980, p. 168.
11. ^ Brock, Robert Alonzo (1888). Virginia and Virginians, Vol. I, p. 40. Richmond and Toledo: H.H. Hardesty.
12. ^ Tarter, Brett. "Robert Burwell (1720–1777)". Encyclopedia Virginia. Retrieved fifteen July 2015.
13. ^ Sankey, Margaret D. "Randolph, William". Oxford Lexicon of National Biography (online ed.). Oxford University Press. doi:10.1093/ref:odnb/23125. (Subscription or Great britain public library membership required.)
14. ^ Emory Grand. Evans, A "Topping People": The Rising and Refuse of Virginia's Old Political Elite, 1680–1790 (2009), pp. eighteen–19
15. ^ Dillon, John Forrest, ed. (1903). "Introduction". John Marshall; life, character and judicial services as portrayed in the centenary and memorial addresses and proceedings throughout the The states on Marshall day, 1901, and in the classic orations of Binney, Story, Phelps, Waite and Rawle. Vol. I. Chicago: Callaghan & Company. pp. liv–lv. ISBN9780722291474.
16. ^ Lundberg, Ferdinand (1968). The rich and the super-rich . New York: Runted Books/Lyle Stuart Publishing. pp. 165‒177.
17. ^ "Fortune 500 2008: Fortune 1000 i-100". Fortune. five May 2008. Retrieved 2 December 2008.
18. ^ ^{a b} Phillips, Kevin P (2003). Wealth and democracy: a political history of the American rich . New York: Broadway Books. ISBN9780767905343.
19. ^ Haseler, Stephen (v May 2000). The Super-Rich: The Unjust New Earth of Global Commercialism. Palgrave Macmillan. ISBN9780312230050.
20. ^ ^{a b} Essvale Corporation Limited (2008). Business Knowledge for Information technology in Private Wealth Management: A Complete Handbook for IT Professionals. London: Essvale Corporation Express. p. 45. ISBN9780955412493.
21. ^ Ferguson, Niall (1 November 1999). The Business firm of Rothschild: Money's Prophets: 1798-1848. Vol. 1 (Offset ed.). New York: Penguin Books. p. 481‒85. ISBN0140240845.
22. ^ Popova, Elena (2008). Through Conflicting Eyes: A View of America and Intercultural Marriages . New York: Algora Publishing. pp. 51. ISBN9780875866390.
23. ^ Brass, Tom (2014). Class, Civilisation and the Agrarian Myth. Leiden: Brill. p. 240. ISBN9789004259973.
24. ^ Haseler, Stephen (2012). The Grand Mirage: Britain Later on Sixty Years of Elizabeth Two. London: I.B. Tauris. p. 258. ISBN9781780760735.
25. ^ Theodore Zeldin, France 1848-1945, Vol. 1: Appetite, Dearest, and Politics (1973) pp 53-62.
26. ^ Alan B. Spitzer, "Restoration Political Theory and the Argue over the Police force of the Double Vote" Periodical of Modern History 55#1 (1983) pp. 54-70 online

Further reading [edit]

• Fisher, Nick, and Hans Van Wees, eds. Aristocracy in Artifact: Redefining Greek and Roman Elites (ISD LLC, 2015).
• Janssens, Paul, and Bartolomé Yun-Casalilla, eds. European Aristocracies and Colonial Elites: Patrimonial Management Strategies and Economic Development, 15th–18th Centuries (Routledge, 2017).
• McDonogh, Gary Wray. Good families of Barcelona: A social history of power in the industrial era (Princeton University Press, 2014).
• Pincon, Michel, and Monique Pincon-Charlot. Grand Fortunes. Dynasties and Forms of Wealth in France (1998) excerpt
• Porter, John. The vertical mosaic: An analysis of social class and power in Canada (1965).
• Rothacher, Albrecht. The Japanese ability elite (2016).
• Schutte, Kimberly. Women, Rank, and Spousal relationship in the British Aristocracy, 1485-2000: An Open up Elite? (2014).
• Stone, Lawrence. An open aristocracy?: England, 1540-1880 (1986).

United States [edit]

• Aldrich, Nelson Westward. (1996). Old Money: The Mythology of Wealth in America. New York: Allworth Press. ISBN9781880559642.
• Allen, Irving Lewis. "WASP—From Sociological Concept to Epithet", Ethnicity 2.2 (1975): 153-162.
• Baltzell, East. Digby. Philadelphia Gentlemen: The Making of a New Upper Grade (1958).
• Beckert, Sven. The monied urban center: New York Metropolis and the consolidation of the American suburbia, 1850-1896 (2003).
• Brooks, David. Bobos in paradise: The new upper class and how they got there (2010)
• Davis, Donald F. "The Price of Conspicious [sic] Production: The Detroit Aristocracy and the Automobile Industry, 1900-1933." Journal of Social History 16.1 (1982): 21-46. online
• Farnum, Richard. "Prestige in the Ivy League: Democratization and bigotry at Penn and Columbia, 1890-1970." in Paul W. Kingston and Lionel S. Lewis, eds. The high-status runway: Studies of elite schools and stratification (1990).
• Foulkes, Nick. Loftier Society – The History of America'southward Upper Grade, (Assouline, 2008) ISBN 2759402886.
• Fraser, Steve and Gary Gerstle, eds. Ruling America: A History of Wealth and Power in a Democracy, Harvard University Press, 2005, ISBN 0-674-01747-1.
• Ghent, Jocelyn Maynard, and Frederic Cople Jaher. "The Chicago Business Aristocracy: 1830–1930. A Commonage Biography." Business History Review 50.3 (1976): 288-328. online
• Hood, Clifton. In Pursuit of Privilege: A History of New York City's Upper Class and the Making of a Urban center (2016). Covers 1760-1970.
• Ingham, John N. The Iron Barons: A Social Assay of an American Urban Elite, 1874-1965 (1978)
• Jaher, Frederic Cople, ed. The Rich, the Well Born, and the Powerful: Elites and Upper Classes in History (1973), essays by scholars
• Jaher, Frederick Cople. The Urban Establishment: Upper Strata in Boston, New York, Chicago, Charleston, and Los Angeles (1982).
• Lundberg, Ferdinand: The Rich and the Super-Rich: A Study in the Power of Money Today (1968)
• McConachie, Bruce A. "New York operagoing, 1825-50: creating an aristocracy social ritual." American Music (1988): 181-192. online
• Maggor, Noam. Brahmin Capitalism: Frontiers of Wealth and Populism in America's Start Gilt Age (Harvard UP, 2017); 304 pp. online review
• Ostrander, Susan A. (1986). Women of the Upper Class. Temple University Press. ISBN978-0-87722-475-iv.
• Phillips, Kevin P. Wealth and Democracy: A Political History of the American Rich, Broadway Books 2003, ISBN 0-7679-0534-2.
• Story, Ronald. (1980) The forging of an elite: Harvard & the Boston upper class, 1800-1870
• Williams, Peter Due west. Faith, Art, and Money: Episcopalians and American Civilization from the Civil War to the Swell Depression (2016), specially in New York City

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Source: https://en.wikipedia.org/wiki/Old_money

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