What’s the worst “richest to rags’ story you’ve seen from someone who came from a rich family?
What’s the worst “richest to rags’ story you’ve seen from someone who came from a rich family?
r/AskWomen
What’s the worst “richest to rags’ story you’ve seen from someone who came from a rich family?
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“Rags” may be too low a bar. Failures from rich families (and there are millions because rich people are usually very bad parents) tend to have some modicum of money left. Either from a trust fund, or a grandma who just can’t give up on the boy. (I may be splitting hairs here)
Also, failure rich kids can be pushed back up. Like Bobby Kennedy’s son. Born into a political dynasty, became (according to his cousin Caroline Kennedy) a total drugged-out sleazebag and asshole in college. Surged for a number years running very worthy charities (buying fuel oil for poor people). But then, at some point, slid back into imbecility and idiocy. Only to be re-elevated by and even bigger idiot and imbecile.
But this is the exception.
I did just happen to think of one. There was a guy who founded an internet firm in the late ’90’s called something like Inktomi. The stock soared and his net worth with it. His only problem was he couldn’t yet sell any of the stock. So he borrowed tons of money against pledge shares to buy things like a mansion, airplane, etc. Then, when the stock was only worth 10 cents on the dollar (and ultimately went out of business), and he still owed those loans at 100-cents on the dollar, he was completely and totally screwed; as were his lenders. Don’t know what happened to him ultimately.