What's the biggest trust-fund you've witnessed?
I know an 18 year old who has $60k cash to his name, have any of you seen much bigger? Pretty cray cray
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I dont know anyone with a trust fund. Im sure some of these HYP kids I work with have them but none of the people I know outside of work.
That's smart on their end of not being loud about it. #1 crack commandment.
Why is everyone MSing this? Jealousy?
$60k? It's not even peanuts. try $4 billion.
Can’t say I’ve witnessed any particularly massive, but in it's own form most of the people I know in NY had their education paid for and many, especially the girls, get aid with their rent monthly.
Then there’s also the ones who are kind of like trust fund hipsters, they live somewhere in BK in a new high rise and don’t really have a job... This isn’t something unique either, there’s a lot of them.
Opposite end of the spectrum and equally common, a lot of people with good jobs come from money and work long hours trying to get ahead on their own whether it’s expected of them or not.
Trust fund hipsters are the worst right alongside with the rich immigrant Asian girls.
I think I get what you mean, but what exactly do you mean by the worst?
One of my college roommates had about $1m to his name because his grandfather sold the family drug store chain to Walgreens way back. You'd never know it though.
wait what? 60k is a trust fund? 60k is impressive to first worlders? i blew 20k on xanax in a year when i was like 19. now that's impressive. probably other shit too. i remember very little
20k on Xanax? did u use that all?
i mean and other drugs too and im sure a lot of it ended up under my car seat, shit like that, but id like to think i used most of it
I received a decent chunk of change at 18 from one of my grandparents. More than enough to pay for my college education. I do not like throwing the actual numbers around the internet.
I do not plan on spending any of it after college. I am going to let it compound and then pass it down to my kids or their kids in 50-65 years. I was not raised knowing, I would be receiving this money so it came as a big surprise to me when my financial advisory told 18 year old me about it.
You had a financial advisor at 18? And claim not to have known you had big money coming your way? Check your privilege kid.
ability to google > calling someone privileged
ton of cheap financial advisors if you’d actually care to look
heister
Know a kid that manages a GBP 900k in Equities that was given by his dad, and get his education/rent/spending money covered by his parents.
$70m, completely impossible to notice anything by talking or hanging out with the guy
Personally, a buddy in the service. parents are worth low 9-figures, and he and his sibling are in line to inherit it all. Not a trust fund per se, but he didn't exactly have to worry about money in any form. Cool thing was that I didn't even know, as the guy is super smart, hardworking, and down to earth, and he's done quite well.
Some pretty weak numbers in here.
$1b+ - one of the richest woman in a Brazil/India/Singapore.
I can list 5 kids off the top of my head who receive at minimum $5K/month from their parents, with the most being $10k/month. I also went to school in NYC so I knew of many more kids like that. Not sure if they have a trust fund, but wouldn't be surprised at all if they did. Also know someone with low 7 digits in their money market account at age 19.
weird flex but ok
My former co-worker has at least $10m in his name. His dad is a CEO on the largest petrochemical company in my country and his came from a long line of royal descendant in my country.
Dresses like he couldn't afford clothes, balding hair at the age of 26, looks very unimpressive borderline hobo-ish most of the time. Yet he runs a construction company founded by himself, 2 charities, owns a literal island and frequently travel around US/Europe paid by with his own money.
i know a person who is the son of a media mogul in my country
i would guess he has 50-60 million to his name
My best friend from college, his grandfather created Aussie hair products and I have no idea how much he sold it for, but enough to get 55,000 acres of land in Colorado for the entire family... plus plenty of fat checks for everyone in the family for years to come.
Plus, my friend's father recently sold his hair care business for about $184MM. Big family so not sure how that got distributed, but well aware my buddy has a trust fund that allowed him to buy a $1.5MM house at 24 on the best lake in my home state.
60k is nothing. I know a guy who got like 20% of his parents billion $ healthcare company. Many 15-year olds with rolexes and pateks, other people who get a part of daddy's company, often making million $ profits every year, some of them don't even know that they and their siblings actually own 99% of the company. Also a lot of kids who will inherit the family's 2000+ acre estates.
a coworker is the son of a footballer who played for England’s national team. he’s late 20s and has an Investment Bond worth GBP 1m to his name. nowhere close to what some of these comments talk about lol
80% of the time being born into money warps you. You live an entitled, sheltered, spoiled life with little to strive for. I attended a very wealthy high school in SoCal (think Beverly Hills High / Harvard Westlake / Palos Verdes) , and I had some pretty well-off classmates. Most of those classmates were grade-A douchebags. Just useless and entitled. A bunch of them ended HS as junkies, and then went downhill from there. If you're born into money, there's a real risk that it robs you of motivation and hunger. That's why Warren Buffett says that you should "give your kids enough that they can do anything, but not so much that they can do nothing." Bill Gates similarly seems to try to make sure his kids are kept grounded. One cannot grow hardy crops in a greenhouse. Good people cannot be raised in cocktail parties and maid-service. Only through struggle can you be molded into a halfway-decent human being. I pity the children of the rich, I really do. And they then have to contend with their family baggage.
So I cannot answer OP's question about which is the biggest trust fund, because my classmates don't share their numbers and I'm not going to ask. But it kind of doesn't matter. On some level I envy the rich, b/c there were some awful times when some money would have helped me and my family out. But on the flip side, whatever I have in my life, and whatever successes I manage to earn, at least I know I did it by my own virtue and hard work (and with help of allies) not because my daddy called some country club buddy to get me the job/school admission. There's no cavalry coming to help me, so I'd better get up and grind.
I heard of some rich Chinese student at NYU that paid rent for his friends because he liked the people (this was a few years ago).
plenty - grandson of the guy who created the UAE, sons of billionaires
most tend to be absolute delusional pieces of shit but fun to hang out with
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