A fool and his money ...

Quote from peilthetraveler:


The guys dad was obviously a financial genius. You would think he would've learned something from him. When you have access to someone worth 600 million dollars, you would think you would want to pick their brain as much as possible.
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You probably got it wrong, the company was built by his brothers, hence they got 100m each, he and his father were just minority shareholders. they were lucky being related to this business at first place.
 
Both the brother and brother in law could donate a million or two each to help him out. I know I would, especially if my cut had been 100 million.
 
Quote from saxon22:

Both the brother and brother in law could donate a million or two each to help him out. I know I would, especially if my cut had been 100 million.
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I believe you are the exception as a good number of families draw the line at the prospect of anyone getting their "stake". It sounds like there is bad blood according to the article, so I suppose they will just let him rot. Why is this guy doing a national piece anyway? Panhandling for donations?
 
Quote from saxon22:

Both the brother and brother in law could donate a million or two each to help him out. I know I would, especially if my cut had been 100 million.
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That would be the equivalent of burning 1-2 million dollars. He will just squander it it.

Most Americans cannot manage finances period and if you hand the average American 1 million dollars, in 12 months they would be 50K in the hole most likely.

What they could do is put the 2 million in investments that generate free cashflow, and just send him a monthly stipend to pay bills, etc.. but not hand him a lump sum.
 
Quote from KINGOFSHORTS:

That would be the equivalent of burning 1-2 million dollars. He will just squander it it.

Most Americans cannot manage finances period and if you hand the average American 1 million dollars, in 12 months they would be 50K in the hole most likely.

What they could do is put the 2 million in investments that generate free cashflow, and just send him a monthly stipend to pay bills, etc.. but not hand him a lump sum.
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Yeah, I agree...he will blow it, I'm sure. But if he was my family, I would give him the opportunity to redeem himself. If he had a business idea, I would tell him to write up a business plan and let me look at it...if it was good, I would LOAN him the money but not give it. This would at least get the guy motivated to start learning about money & business. But of course if he has some crazy idea about breeding alpacas in oregon, I wont give him the money. It would have to be a halfway decent workable plan.
 
Whatever te way to do this (loan, gift, monthly check, business plan ect.) he and his family are still that: family. Seriously when one side has 100 mil. and the other is struggling, the proper way would be to help. We all have had disagreements with fam. memebers but blood is still thicker in the end. In 50 years we all will have no use for the money.....
 
Quote from saxon22:

....... but blood is still thicker in the end......
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Bullshit.
My family only gave me troubles and aggravations. If I'll survive that bunch of ungrateful bastards, I'll happily piss on their graves.
 
Quote from KINGOFSHORTS:

That would be the equivalent of burning 1-2 million dollars. He will just squander it it.

Most Americans cannot manage finances period and if you hand the average American 1 million dollars, in 12 months they would be 50K in the hole most likely.
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Exactly. There is an endless stream of lottery winners who go broke. Sooner or later you'd think that anybody who gets a big chunk of cash would have retention as their primary concern. I mean, how many stories does one need to read before one thinks "JFC, all these other guys went broke. I better be extra #@&^ careful to make sure I don't"?

This guy's glaring error was sinking over half of his after tax "winnings" into the property.
 
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