John D. Rockefeller was the first American billionaire. Here's how his family has stayed united and kept their wealth. : In many cultures, there is an age-old saying that wealth is made and lost in three generations. In the U.S. we say, "shirtsleeves to shirtsleeves in three generations," and in Japan it's "rice paddies to rice paddies in three generations." Wealth, in other words, rarely lasts much beyond the grandkids. Taxes, spending, the dilution of wealth through children and their children's children, and the inevitable spoiling effect of so much money, eventually take a toll on family fortunes.