The airplane, the island, and the millionaire

Alright, so a really brilliant friend of mine posed an incredibly intriguing scenario today and I don't know what the correct answer is, if there even is one. Thoughts?

Here it is:

An aeroplane drops a nuke on an island as part of a military test. Unbeknownst to the pilot and the military, the island was bought by a millionaire from an island real estate company. The millionaire, a solitary man with no immediate relatives, had been vacationing on the island when the bomb dropped. He, his estate, and the island are all evaporated. Where does the money go?

 

well, by law, the money goes to anyone related to him by blood or marriage -- even his second cousin's daughter's grandson's wife if it gets to that.

otherwise it all gets claimed up by the govt, doesnt it?

TRUE STORY: The prospect asked me, "What's it like to work at ****?" I asked him, "You ever been to Home Depot?" "Yes" "Well, it's like that. It's full of fucking tools." And he stared, innocently wide-eyed and nodded with deep understanding
 

Without a will to specify who would get it, it would go to the Government. It would go through Probate court, if nobody puts a legitimate claim to it, then they will get it. It's called the Death Tax.

 
Best Response

Me and it appears most of the other commentors may be missing something, because I don't see how this is particularly intriguing. It appears to be a straightforward legal question, albeit dramatic. Unless by asking "where did the money go?" your friend was asking a somewhat philosophical question as to the nature of money and wealth and whether the value represented by money has any inherent indestructable characteristic that remains even after the physical currency or tangible asset is destroyed.

But if the question appears to ask the legal question of who gets the money, then anything owned by the millionaire that stills exists will pass to the closest surviving relative according to the intestancy and succession laws of his state of residence. If none can be found after a thorough search any assets will escheat to the state. This includes assets like bank accounts, royalty interests, and future interests in property.

"Hope for the best. Prepare for the worst. Capitalize on what comes."
 
TEX:
Me and it appears most of the other commentors may be missing something, because I don't see how this is particularly intriguing. It appears to be a straightforward legal question, albeit dramatic. Unless by asking "where did the money go?" your friend was asking a somewhat philosophical question as to the nature of money and wealth and whether the value represented by money has any inherent indestructable characteristic that remains even after the physical currency or tangible asset is destroyed.

But if the question appears to ask the legal question of who gets the money, then anything owned by the millionaire that stills exists will pass to the closest surviving relative according to the intestancy and succession laws of his state of residence. If none can be found after a thorough search any assets will escheat to the state. This includes assets like bank accounts, royalty interests, and future interests in property.

Or wherever his company is incorporated, if that's where his wealth lies.
 

Officiis et quidem sunt quas beatae dolor veniam. Aspernatur quia ea dignissimos quae. Est et assumenda officia magni quaerat ullam. Quisquam ipsum non nihil. Architecto ea optio doloremque cupiditate pariatur sapiente facilis velit.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”