$10 million is indeed a lot of money, but it's hardly enough to set up him and his family "for generations to come." To be "set up" for future generations, you have to be able to live off the interest. So, let's pretend he got the whole $10M up front and makes 5% interest/year off it. That's $500K/year. That's a good amount of money, certainly enough to support Jeff and a pretty large family. So, let's say he has three kids. The kids grow up and get married, and they have kids.
So, now you have four families (Jeff and theoretical wife, and each family of their three theoretical kids). Now each family gets about $125K/year. Well, assuming they don't live in SF, NY, Chicago, LA, Miami, or another expensive major city, you're still doing pretty well at $125K/year.
Now, say each of these kids has 2 kids. Jeff and his wife die. So, now you have 9 families to live on the $500K/year. (each of Jeff's 3 kids families, plus the families of each of their two kids (6 total)). Now we're only talking $55K/year, which isn't terrible, not not in any way "set up."
I'm just trying to point out that, while $10M is a lot of money, it's not the kind of rich that makes somebody set for life, and it certainly isn't generational wealth in today's society.
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