That was 20 years ago. How’s he doing now? Did he ever recover any of his wealth? Presuming he was married to your mother, how did she handle it? Stood by him? Left him?
I’ve had a pretty successful career in construction and unfortunately politics matter. When the chips are down friends in the right places will get you through.
So it sounds like the majority of your fathers money was tied up in his business. Is this true? You can have a multimillion dollar business and be poor until you sell the business.
My aunt owned a multimillion dollar insurance company and lost it all. She said the amount of claims ended up surpassing those paying in and had to declare bankruptcy after a couple of decades.
Seems like you are from India, i have the same story, i was born to inherit but all I’ve inherited is debt, my father was a multi millionaire who lost it all and put me in debt. He was screwed over by people too..
My grandads brother was rich rich. Private jet and huge mansion in the UK. But then he got wild. Traded his wife for a miss universe, and tried to cheat the wrong people.
Went to India and tried to scam his way into government contracts. Got richer. Then somehow (no one knows how) it all came crashing down. Started getting political trouble, got sued, wife left him for someone richer, and he lost all his money.
For his last few decades he had nothing, living in the UK on welfare. He never got back on track or even a normal level of wealth. I think he was just broken. Even tried scamming his own family when he thought they had money.
It affected him mentally, he was just broken. Could tell awesome stories though. People act that it is their talents that got them rich but forget that they also had a certain amount of luck. Once you lose it, really hard to get it back. Especially if you screwed the people that helped you along the way.
Since your father was a millionaire, what’s his advice on becoming a millionaire if you’re coming from a middle class family with no connections? Most importantly, how would he have done things differently working with other people, knowing what he knows now?
Hold on, what country is this? And can you explain more about the the betrayals and the “powerful politicians” part? What could you done to make an enemy out of them to destroy his company? Because I don’t happens in developed countries like the US unless if your dad something very bad.
Do you think you would be happier if you were raised in a more standard middle class home? Btw, somehow you sound like a very reasonable and humble dude – take care!
Dumb question: Why did he make enemies out of powerful politicians? Was he forced to do something he didn’t want to do or refused so he had no choice but to get in their way?
Same! My grandfather lost his father’s several hundred million fortune. My life could’ve been so different lol. I don’t really care though I got a life to live and what could’ve been is LONG gone.
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Which particular politician fucked him over?
Do you resent him?
That was 20 years ago. How’s he doing now? Did he ever recover any of his wealth? Presuming he was married to your mother, how did she handle it? Stood by him? Left him?
It’s me or they a lot of millionaires dads wasting fortunes lately?
Did u ever thought that you will just inherit his wealth? And if yes, what did u feel when u realised u will not?
“Enemies” like they want to kill each other “enemies” or would a better word be rivals?
Omg similar story. Also, Elon just made an enemy with 🥭
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what was the final straw that destroyed his fortune?
Was the family betrayal, his siblings or his wife?
was he a millionaire in indian rupees or japanes yen?
Would it be possible to recreate his wealth? Is there a surefire technique?
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I’ve had a pretty successful career in construction and unfortunately politics matter. When the chips are down friends in the right places will get you through.
So it sounds like the majority of your fathers money was tied up in his business. Is this true? You can have a multimillion dollar business and be poor until you sell the business.
My aunt owned a multimillion dollar insurance company and lost it all. She said the amount of claims ended up surpassing those paying in and had to declare bankruptcy after a couple of decades.
Seems like you are from India, i have the same story, i was born to inherit but all I’ve inherited is debt, my father was a multi millionaire who lost it all and put me in debt. He was screwed over by people too..
Care to connect and trauma bond on DM??
What has your father learned from losing his wealth? Any mistakes he’s now learning to avoid? Anything that he’s still making?
Samething happened to my dad. Was betrayed took everything from him and acts like it was all his. It messed up.
How did your family cope emotionally and financially after the fortune was lost?
Are you resentful like for the live you could have lived?
My grandads brother was rich rich. Private jet and huge mansion in the UK. But then he got wild. Traded his wife for a miss universe, and tried to cheat the wrong people.
Went to India and tried to scam his way into government contracts. Got richer. Then somehow (no one knows how) it all came crashing down. Started getting political trouble, got sued, wife left him for someone richer, and he lost all his money.
For his last few decades he had nothing, living in the UK on welfare. He never got back on track or even a normal level of wealth. I think he was just broken. Even tried scamming his own family when he thought they had money.
It affected him mentally, he was just broken. Could tell awesome stories though. People act that it is their talents that got them rich but forget that they also had a certain amount of luck. Once you lose it, really hard to get it back. Especially if you screwed the people that helped you along the way.
What advice did he give you – or would he generally give – to avoid losing everything
I had a friend who got a million inheritance from a dead grandfather and blew it all on dumb stuff.. now he drives a bread truck. That’s a better AMA.
I suspect op is a Nigerian. And yes governors in Nigeria can make or break your business. So can ministers.
And those working for you will likely be robbing you blind
Since your father was a millionaire, what’s his advice on becoming a millionaire if you’re coming from a middle class family with no connections? Most importantly, how would he have done things differently working with other people, knowing what he knows now?
I had a great uncle who went from a hundred million dollar empire to poverty. It’s crazy to watch it happen.
What country did you and your siblings study in (you mentioned the children studied abroad)? How many siblings do you have?
Seeing this is an African nation, is it safe to say that your father was corrupt and bribing politicians to build his empire?
And was there a change in politicians that put him out of favour?
Does he intend to work towards getting his way back up to that level again or has he decided to stay at a more modest level of wealth now?
How did he make the money, if he got to the point where he was fucked over by politicians he must of been in the big leagues .
Are u gonna stay abroad(I saw,that you were studying abroad so guessed u were still there )
Hold on, what country is this? And can you explain more about the the betrayals and the “powerful politicians” part? What could you done to make an enemy out of them to destroy his company? Because I don’t happens in developed countries like the US unless if your dad something very bad.
Do you think you would be happier if you were raised in a more standard middle class home? Btw, somehow you sound like a very reasonable and humble dude – take care!
What lessons have you taken away from this experience? How do you apply these lessons in life?
What are you having for dinner?
What age is your father now? Or can you give an approximate? I’m curious about how old was he when he became wealthy.
If you were old enough to remember when your family lived comfortable, what’s something you missed?
How did he make it big with the construction company? I’d like to do the same.
Dumb question: Why did he make enemies out of powerful politicians? Was he forced to do something he didn’t want to do or refused so he had no choice but to get in their way?
A US dollars millionaire or a millionaire in whatever currency is used in your country in Africa?
Did he ever financially recover and somehow take revenge on his family who betrayed him?
Was his wealth gained honorably or part of the brown envelope gang.?
Same! My grandfather lost his father’s several hundred million fortune. My life could’ve been so different lol. I don’t really care though I got a life to live and what could’ve been is LONG gone.
Same stuff happens in the USA