In high school, trust fund kids were more common than those that weren't. I wasn't one of them but I was friends with many. I got to do some pretty amazing things for a kid of my status.

I dated a gal that ended up on Forbe's list of 100 wealthiest Americans but she fell off a handful of years back. Another girl I knew back then had a father that owned several medical patents. They lived in a house that the father bought in 1978 for nearly 3.5 million dollars. There was no mortgage.
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A buddy in those times, his father donated something over 1 million dollars of Pillsbury shares as the father was tired of being bothered by both sides in a hostel take over action.

Later on, another guy I ran around with, his father was an early parter with Bill Gates and did some work with Steve Jobes. He sold out both times when the companies became pretty stable. The father lived off the challenge of starting up, the every day drudge of running a business was something he hated.

A guy I ran around with when I was single married a trust fund kid. She had a condo win a very upscale neighborhood that ran nearly $300/month 30 years ago. On top of that her car, insurance, and every expense was paid for as well as getting another $3000/month spending allowance. She was a professional student that had multiple advanced degrees, all paid for by mom and dad. This prevented her from getting job as she was overqualified. So, she went back to school...

Don't know if he was a trust fund baby but I began rubbing elbows with Mike Lindell back when he ran a bar. Fun guy then, still a fun guy now after giving up the lifestyle he once had.

Know a few others that are wealthy but not sure if they were born into it or earned it. One finished building a multi tens of millions dollar house somewhat recently. Another end up in prison for a Ponzi scheme he ran. Glad I didn't take financial advice from him.