Thursday, May 22, 2014

The Paris Hilton Effect

In one case study, an inheriting family blew through a mega-million dollar fortune built over fifty years in just twenty-four months.


Kristopher B. said...

Sewing sleeves to sewing sleeves in three generations.

Old money families invented the spendthrift trust specifically to prevent this. Family members who still have moneymaking talent direct the trust, and all of the members are on allowances.

The trust owns all the mansions and art, so members can't jug them up with mortgages.

Anonymous said...

You know- I'll say this.

As far as I've heard Paris Hilton has parleyed her sextape into a career- or rather, about ten careers. Last I heard, she was actually making her own money from her own businesses.

If that's still the case, I say good for her.

I wouldn't shake her hand without rubber kitchen gloves and a handy vat of alcohol, but hey- she did something for herself.