Disney heiress wrote a scathing takedown on dynastic wealth and billionaire greed

That was on a poster in the bank I used as a teenager (not for myself: I was a bookkeeper). Probably in your grandfather’s bank as well. 1970’s?

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The old man then mugged the young man and took all his money. Lesson: don’t trust rich old men (especially if you have lyin’ eyes)

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I can make some suggestions!

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That makes sense. And yea, that would have been told to me in the 70’s.

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They may have chosen soulless jobs, but that is in fact them doing their job as required under the law if they are her “fiduciary.” She would need to take the reins to do otherwise with the inherited money.

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Ahhh, the Labradorian!

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That;'s not where you’ll find her fortune. Most of it will be invested in stocks, bonds and real estate

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Let me guess, Abagail Disney, right?

She does this multiple times a year , and has been for the past ten years. And yet, her net worth keeps growing, and she keeps living the life.

It wasn’t “unexpected” when she said what she said in 2019, she has had a history of doing this repeatedly.

EDIT:

Also, she refers to herself as a class traitor. HAH. Right. She’s totally betraying her class by doing exactly what she says they’re doing.

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I have met plenty of Trustafarians who are vocal about what a shitty thing dynastic wealth is. But to be fair they were nowhere near the billionaire class.

I remember one early twenties kid who had $100k to his name. He had this idea about karma and how giving it away would come back to him. Had no career or even work experience but he thought the universe will provide since he provided to the universe. Had a plan to live in a $25k Detroit home. I never heard how that worked out. Point being this ideology is common among the barely wealthy. Probably not so much among the exorbitantly wealthy.

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This is also why so many lottery winners end up bankrupt inside of a decade, because you can’t just put a couple hundred million in your checking account. How many people making less than $10m a year have ever even heard of a “charitable remainder annuity trust”?

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She might not legally be allowed to. You’d be surprised how many patriarchs decide that their children and grandchildren will NEVER be mature enough to make the ‘right’ financial decisions, and so any inheritance is tied up in a trust with professional trustees.

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Perhaps she’d rather advocate for structural change to address wealth inequality rather than lend her credibility to the myth of noblesse oblige charity. :man_shrugging:

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I think I would like a tattoo of this.

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Understood, but my comment was responding to her apparent claim that the financial advisors were well intentioned but brainwashed into doing tax avoidance:

My point is that tax avoidance schemes -are- the fiduciary’s job regardless of who has hired them, unless they are instructed otherwise. It’s hard to tell in this case - she says she became an “asset manager” at 21 and has been “the recipient…of tax advice.”

Why indeed.

Jennifer Lawrence Reaction GIF

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