Our sport, our martial art, it's essentially governed in a feudal way. The descendants of the founders are held in the highest esteem and have tremendous influence, and are also considered to be some of the most knowledgeable and skilled men in the Jiu-Jitsu. One could question this structure, but we don't. It works and it is the way things are in BJJ.
In that regard, Carlos Gracie Jr. is kind of like a young king or prince in the world of BJJ. He's a patriarch. His father co-founded this sport/martial art. Everyone who trains Jiu-Jitsu should have some lineage that connects them to either Carlos or Helio Gracie (Helio being the other co-founder with his brother Carlos Sr.).
In case you haven't noticed, Carlos Gracie Jr.'s Gracie Barra schools are expanding quickly throughout the US and the rest of the world. Watch Carlos espousing his wisdom on the expansion of Jiu-Jitsu (particularly, GB) and the philosophy behind it. Ominous to say the least.
Disclaimer: Our academy, Street Sports, is not a GB school although we do still have strong ties to Carlos (as many academies do). Tons of respect for the man and many other pioneers in the world of BJJ.