How can low/mid-tier oil Sheikh's afford multiple families (NYC)?
Looking at the PE partner, HF analyst, and IB MD threads on expenses and lifestyle it seems almost impossible to plan 9 families in NYC working as an oil sheikh unless you are blessed by Allah. If you are a 30+ y/o oilman in a mid-tier production zone making just mid to high 8 figures per year (aka not Saudi/UAE money) with the insane volatility of energy prices, chances of getting invaded by the US/Russia, or your well just drying up - how do you get comfortable with committing to a few dozen kids/tuitions/and mortgages for all of their houses given the absurd cost of living? Vs a member of the Saudi Royal family or the top producers in Dubai, making 10x+ the amount with more visibility in terms of Western military operations and policy? Even if I made a lot 1 year (say $200-300mm) that could go to zero the next and you aren't building an entire mortgage/home portfolio on 1 year peak earnings. How do you commit to cumulative 100+ years of private tuition if you might have to live off savings for 1-2 years if your team is assassinated by MBS?
Do people just defer families in the industry or find wives with fathers who have steady jobs of their own (dictators, Saudi/UAE Sheikh's, etc.) while they swing for the fences? Or they only do if after getting a massive up year ($500mm+) that de risks their career after?
(Asking because I'm one of these Sheikhs and am unclear of how to think about starting a few families vs move out of NYC and find a job that is stable with lower COL e.g. head of a cartel in LATAM)
Pick your favorite family and send the rest to Allah
The perfect plan
Nick Cannon has 12 kids and seems to get by.
Atleast hes not like Deniro and Pacino pumping out kids at 80yo. But I’d agree its nasty
NBA Youngboy is worse 10 kids at 23 loool
We'll pretend Cannon actually takes care of his kids and baby mamas in this example and that he's not just a rich stereotype. Did actually he marry any of them or is he just in it for the game? It seems like he fell off the map after the anti-Semitic rant he went on that got him fired from ViacomCBS.
My fairly viable conspiracy theory is that because Nick Cannon has lupus related nephritis and a whole host of other autoimmune problems that are wrecking his internal organs, he is engaging in a long-term strategic plan to have as many children as he can with as many women as he can in order to raise the probability that he can readily find an organ donor match in the event he needs one.
Or maybe he just wants to have sex? I’m not quite sure.
That's... fascinating
I heard that after the 8th kid, you don't have to pay child support. True Story.
You raise a great point. Got to remember living costs are far greater for your average oil sheikh. For starters, you'll have multiple wives (think 4), each with a minimum of 5 children each. That's at least 20 children. Let's say with private school fees, childcare, trips, allowance and child support etc, you're looking at a minimum 250k outlay per child per year in NYC. That's a total of $5m a year in family costs alone and we haven't even considered any living costs for yourself yet.
Overall, it's not looking great for you if you want to keep a respectable standard of living. Would suggest targeting a top tier oil company (think Saudi Aramco/Qatar Petroleum). These positions are ultra competitive seats to get in though and will require some aggressive networking (think political assassinations). If you can't manage that I would strongly consider moving to a lower COL city as I don't think you have the funds to afford to live in NYC unfortunately.
Clearly, infidel, you were not reading my post! I said 9 families.
I said a few dozen, meaning 36+. I am not some poor sheep herder limited to just a handful of wives and barely 2 dozen children.
It's actually max 4 wives in Islam btw
Wasn't expecting this to be funny
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