When the kid inherits the money, but not the "millionaire work ethic"

[Destroyer Angel]

Rich kids being shitty is almost a law of the universe. All across the spectrum from emperors and monarchs to ordinary rich people the beneficiaries of well accomplished parents don't know what it takes.

 

[dildos]

its all in the family, and its all up to the family to decide what to do, and yeah they dont know the outcome at all. and there is no point worrying about what others do.

if you are concerned about other families being given different opportunities that you didnt get then you sound jealous.

maybe also look at the companies you are talking about, trade vs profession may come into play.

 

[heavyarms21]

Paris and Kim did the opposite and blew up their parents businesses.

So did Vince McMahon, hell he bought it from his Father 1st.

 

[burningspear]

The oppressed view on working. Working is a means to an end not a noble pursuit. Fucking drones.

 

[JoeyJoeJoeJr]

I know a guy like this, he's a complete moron but thinks he's super smart because he was gifted a free job

 

[mozfonky]

I'm old enough to have experienced a few of these happening. Millionaire parents passing on the company they had built to their children, only for the children to destroy the company because they did not inherit the good work ethic and businessman mindset that made their parents wealthy. The kids start off wealthy right off the bat, only to become broke before they reach old age.

One I know of was a plumbing company that had a very good reputation doing commercial building projects. The dad retired and passed away. The son fucked up so much that the company's reputation was tarnished and could no longer even get bids. The company went bankrupt and the son ended up broke as shit.

Second one was a commercial carpet installation company. This time it was the mom that had built it from nothing, only for her to entrust it to her son who had a gambling problem. The company went under also.

ya, i'm sure it's somewhat common. My mentor owned two grocery stores at one point, but he wasn't a good businessman himself. He had two older brothers who really built the business along with the sisters, the two brothers died within a few months of each other and left it in my mentors hands. One of his sisters used to ask me, "why do you follow him?" Anyway, his last store went out of business about 20 years ago, our relationship went bad because I got tired of dealing with the business' problems. But.., He had a son whom he gave the management position, the fuck up would always show up late, leave early and basically drove the struggling business into the ground. They sold the valuable property for 3 million and 20 years later, my mentor dies at 96 and needs a go fund me for a burial. I hadn't talked to any of them in 20 years and didn't need to to know what happened. Still, my dumb ass sent money to the burial fund even though I 100 percent know that they wouldn't do the same. I have nothing to say to the son and if we ever meet face to face, i don't know if I'll be able to restrain myself, i really don't.

 

[mozfonky]

This is why it's better to promote company leadership based on meritocracy than nepotism.

ya man, but that's how the world works in many cases. People say "meritocracy" but in my exp. it's bullshit.

 

[mozfonky]

I know a guy like this, he's a complete moron but thinks he's super smart because he was gifted a free job

ya, people are so blind to the things they inherited, it's crazy and it can drive YOU crazy but it's best to just ignore that shit and keep on going. A lot of people have a lot of issues looking at someone else's life, it's stupid.

 

[Grassshoppa]

Give them enough to do something, but not enough to do nothing.

 

[Dan Torrance]

If I was really rich and had stupid or lazy kids, I'd set up a family trust they couldn't touch and make sure it was reinvested and paid out to my descendants going forward. Hell I'd probably do that anyway.

...as it is, I'll probably just give it all to charity when I go.

yeah, I barely know more than jack shit about business and such matters and it seems blatantly apparent that setting up a trust is an easy way to ensure your kids live well if you earned enough money.

There just seems to be a lot of people that like the idea of 'good for nothing kids' including some parents because they don't want to be outdone by their kids and their win is their kid failing.

 

[GSP_37]

Seems very common for kids of rich successful parents to have shit character and intellect.