I used to work for my distant cousins in a lucrative 5th generation family owned business. They grew up in the country club neighborhood in SLC. Their dad bought them all trucks in highschool, paid for all the fuel and insurance. After highschool their dad continued to pay for new "work" trucks every 2-3 years that where used mostly for personal use. He also continued to pay for all the fuel and insurance. Everything paid for on the company dime of course, gotta have those tax deductions. When they were getting married of course they needed a house to go along with the marriage dad/company "gifted" a large sum of money, grandpa and grandma "gifted" another large sum, the other set of grandparents "gifted" a large sum. All for an extremely large down payment on a nice house in a nice neighborhood. Years later mom still helps pays for snowmobile repairs, vehicle repairs, debt payments, etc. The youngest daughter and her husband lived for free in the basement food included for years. Their oldest child was in college before they were forced to move out.
Ya I've seen it first hand how multi generational wealth can help out a lot when you are first starting out. But I have seen how it also hinders if you let it. I doubt that 5th generation business is going to see a 6th generation. They are quickly running it into the ground.