Get rich, stay rich, pass it on : the wealth-accumulation secrets of America's richest families by McBreen Catherine S;Walper George H & Walper George H

Author:McBreen, Catherine S;Walper, George H & Walper, George H
Language: eng
Format: epub
Tags: Wealth, Rich people, Millionaires, Inheritance and succession
Publisher: New York, N.Y. : Portfolio
Published: 2007-01-05T16:00:00+00:00

THE SECOND SECRET OF PERPETUAL WEALTH

dow of her comfortable country home. Slender, fit, and normally enthusiastic, Sally admits to feeling her loss afresh every day.

Jim was initially diagnosed with cancer at twenty-seven. He endured cobalt therapy, chemotherapy, and other treatments—much harsher back then than their equivalents today—and over the years suffered various cancer relapses as well as recurring cardiac problems. He died during a relatively routine heart bypass operation. Difficult as his struggle was, Jim's ill health "really brought us together," says Sally. "We knew we had each other."

They did everything together. Both seemed born entrepreneurs, and the initiative of one seemed to trigger an equal initiative on the other's part. Jim had grown up in the Midwest and had an interest in the cattle business. He and Sally moved to Montana for a time, where Jim made himself an expert in the Sim-mental breed of cattle, which was not then well known in the Midwest. With the help of an expert breeder, he introduced the Simmental to his home region. The move was highly successful, growing in value not only through sales of the cattle but especially for the semen that was frozen and sold.

The Browns didn't stop there. "Jim was very good at what he did," says Sally, "but the cattle business always had its ups and downs." To add some stability to their financial picture, Sally and Jim decided to take some of their earnings from the cattle business and invest in real estate. They bought a couple of buildings in the downtown area of the small town in which they lived. At the same time, Sally decided to open up a Western

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