Vanguard was founded 41 years ago.
And of course the S&P 500 will NOT outperform just about any private business. Quite the opposite. The larger the company, the more difficult is to maintain the growth rate. Hence well-managed smaller businesses will outperform the S&P 500 quite frequently. It's just tough to keep growing at that rate and beating the index, I get that. And you're right about the lifetime of most businesses, but the fact that a construction/apartment rental company is still around is no big deal. People will always need shelter, even when they don't buy luxury apartments or golf courses, and that company is based on daddy's property management company.
I will believe all the legends about "the Donald" when he releases his tax returns. Until then, he's probably lying, as he does most of the time. Con man psychology. They keep lying and keep denying their lies, even when presented with evidence.