Just a heads up not to miss HBO special 'Born Rich' tonight on HBO 10PM ET. This was just covered on CNBC. For those of us like myself not born rich and struggled for years to save enough capital to trade, always remember what Shakespeare said 'Hungry Lions hunt best'.
The maker of this documentary also a rich millionaire kid went around and interviewed many rich kids ( Trump's daughter, Bloomberg's kid, among many other super rich kids). Its a interesting expose of the effect money has on people.
the dudes i know born rich generally try to hide their wealth. they seem to be obsessed with "fitting" in with the common man. however, this is just my limited experience. best, surfer
That's also the case with some of my rich friends. They will complain every now and then about having no lunch money.
Paris and Nicky Hilton, born rich. $550 million: Estimated value of Barron Hilton's fortune. $28 million: Share of that Hilton fortune that each of the eight kids and 12 grandkids probably gets. 30th: Floor of the Waldorf-Astoria in New York in which Nicky and Paris were raised, in the presidential suite, eating room service for any meal they wanted. $16,000: Tuition for the private school where they both did their learnin'. $100: As kids, their weekly allowance, which was usually blown within hours. 13: Paris' age when she got her first credit card. 5: Number of parties Paris had to celebrate her 21st birthday: one each in Tokyo, London, New York, Los Angeles and Las Vegas. $75,000: On the high end, what each of these parties would cost. $250,000: Sales, per month, of Nicky's line of handbags. $185 to $410: What such a bag would cost you. $60: The average tip the sisters leave on a $200 check at restaurants like Le Cirque. $300: Cost of Paris' Hello Kitty beach-cruiser bike, which she loves. $1,000: Cost of the Mystic Tan spray-on treatment that Paris regularly gets. $500: Price you'd pay for a Juicy sweat suit, like those Nicky and Paris tend to wear. $10 million: Value of a necklace Nicky took--without permission--from her mother's jewelry case, because she needed something to wear to a costume ball. A Goat, Some Ferrets and a Small Tiger: What Paris bought on an impulse spree after winning $6,000 in Las Vegas.
I think being born rich is a curse. To me life is a game you must win in order to have any self esteem. Its best to start with nothing and work your way to the top without ever sacrificing your integrity. That's the hard part. If money that is handed to you, to buy mansions, yachts, limos, jewels and a string of trophy wives is what you crave then go for it, but I would rather have my independence and anonymity anytime. I could have made more money but I retired when I was fifty and have never regretted it. If you want to read a real success story get a copy of Neiderhoffer and Kenner's book "Practical Speculation" and read the story that I wrote about a friend of mine entitled "The Hoodooman". Now that story would make a great movie. best regards