From the article:
“A.P. Giannini gave away millions, but died with an estate of only $500,000. He turned down a $1.7 million dollar bonus that the bank wanted to give him, saying they should use it to help their customers instead”
Attitudes have definitely changed.
What Grandpa's little princess didn't mention was that, in 1949, the federal Estate Tax exemption was only $60,000. Of course Grandpa gave everything away during his lifetime. He made an intervivos transfer to a dynasty trust and even 60 years later his progeny didn't have to work for a living.
I'm just sayin'...