Where am I?

HOME
  • COMMENT Blogs
Times Online Money Blog

Money Central - Times Online - WBLG

Money and finance comment from the timesonline.co.uk - Subscribe to a feed of this Times Online blog at http://timesbusiness.typepad.com/money_weblog/rss.xml

« Has your energy company let you down? | All Posts | Britain’s 10 most outrageous Chancellors »

April 29, 2008

Too much too young?

RausingThis month Hans Kristian Rausing (pictured, left), son of Britain's third richest man, was arrested on suspicion of possessing crack cocaine and heroin after his wife was allegedly caught trying to smuggle drugs into the American Embassy. The 44-year-old grandson of the Tetra Pak inventor is not the first big-name heir to tangle with controversy. The junkie 7th Marquess of Bristol, for example, served two prison terms for drugs offences and blew his entire £35 million fortune before his death at 44 in 1999. Another peer who inherited young and had his share of financial trouble was the infamous 7th Earl of Lucan. Further back, Beau Brummell came into the then substantial fortune of £20,000 while still at Eton in 1794, but died penniless in 1840 after decades of decadence.

Is coming into wealth young bound to lead to extreme behaviour? And, forgetting the super-rich, should "comfortable" parents help their grown-up children - onto the housing ladder, for instance?

Posted by Times Online business desk on April 29, 2008 at 04:49 PM in Consumer affairs | Permalink

Comments

I suspect that some of the people who regard wealth as an excuse for appalling behaviour feel differently about poverty.

Posted by: e skelton | 29 Apr 2008 21:45:47

Yes, that is why children will be able to get hold of their child trust fund (raided from my taxes)at 18. Likw A&M trusts. So much for Gordon's prudence.

Posted by: James | 30 Apr 2008 11:04:00

Haha. Yes. This is what happens in a country with a class system. In the US we make our own way in life and most of us turn out just fine.

Posted by: J Lee | 30 Apr 2008 14:07:45

Best not comment if you are that ignorent, J Lee. The idea that all Americans 'make their own way' is absurd. Look at dynasties like the Astors - and at your President

Posted by: Englishman | 30 Apr 2008 14:38:35

Too much too young knows no international boundries. Take Paris Hilton...please! These people needs a job, responsibility, a reason to have to get up every day - like it or not - and do something other than lallygag about.

Posted by: Mary | 30 Apr 2008 15:35:16

Yes, I couldn't agree more. Over and again the adage "easy come easy go" proves to be corect. Furthermore, unearned money in a teenager's pocket is far more likely to be spent on drugs, alcohol etc, education will be at the end of the list......or not there at all.

Posted by: S.Ferguon | 30 Apr 2008 15:35:20

There are so many crazy stories about inherited wealth. Howard Hughes takes first prize. But that could be more to do with fame and death syndrome. In business there is the upstart type like Alan Sugar or Rupert Murdoch who despite his various antagonists has proved to be a global player and become Citizen Kane by sheer ability. Free advertising?

Posted by: basleigh | 30 Apr 2008 18:38:33

I volunteer to be the test case . . .

. . . give me US$100m and see if it changes me.

Posted by: Fergusson | 1 May 2008 05:38:20

J Lee of the US, what has class system got to do with it? You appear to have a veiw of the UK based on a Charles Dickens novel. So folks in the US who have lots of money turn out just fine? I beg to differ: Britney Spears is just one example that springs to mind.

Posted by: Shane | 1 May 2008 06:46:07

I once heard a tale of a young man about to leave home. His father being both wealthy and wise called for his son. This young man was expecting some money but instead his father sat him down and gave him three pieces of advice.
1) Never eat at a cafe called Mammas.
2) Never gamble with a man called Doc.
3)Never lay your head on the same pillow with a woman who has more problems than you.
Probably a greater benefit to most offspring than a wad of notes.

Posted by: DAVID | 1 May 2008 21:37:04

Being rich is ok, but having nothing to do in life will lead to trouble

Posted by: HermitMoney | 2 May 2008 18:51:38

Interesting the ad hominem bitterness spewed back by such as SHANE and ENGLISHMAN at Americans who mention the British class system. Of course, it doesn't exist.....but I recall that Englishmen used to be able to take what they can dish out with some class (and humour).

Posted by: Andrew Heath | 3 May 2008 15:07:39

What about all the people who take drugs and don't have money....or is it that there are so many of them it is not newsworthy...and the children of the very rich who are normal (the majority) such as Richard Branson's children.

Posted by: Rosie | 3 May 2008 19:32:31

Post a comment

Comments are moderated, and will not appear on this weblog until the author has approved them.

About Money


  • Real-time money and finance news from Times Online, Times Money and The Sunday Times Money

    Money News

    • Mortgage News
    • Savings News
    • Borrowing News
    • Investment News
    • Funds News
    • Insurance News
    • Consumer Affairs
    • Tax News
    • Pensions News
    • Broadband News
    • Property News
    • Business News

RSS Feeds

  • Click for RSS 2.0 feed

Recent Comments

  • Rob Evans on Britain’s 10 most outrageous Chancellors
  • darrelldeboo on Britain’s 10 most outrageous Chancellors
  • Stella Butler on Has your energy company let you down?
  • Iain on Heros wanted
  • Ian Macdonald on The Ten Craziest Parking Tickets of All Time

three random posts

Categories

  • Borrowing
  • Budget 2007
  • Budget 2008
  • Consumer affairs
  • Economy
  • Funds
  • Insure
  • Invest
  • Money Makeover
  • Mortgage
  • Pensions
  • Pre-Budget Report
  • Savings
  • Selling your own home
  • Tax
  • Times Money

Recent Posts

  • The 10 most ridiculous fines of all time
  • Are house prices heading for a 1990s-style crash?
  • Britain’s 10 most outrageous Chancellors
  • Too much too young?
  • Has your energy company let you down?

Archives

  • May 2008
  • April 2008
  • March 2008
  • February 2008
  • January 2008
  • December 2007
  • November 2007
  • October 2007
  • September 2007
  • August 2007

More from Times Online

    • Business News
    • Markets News
    • Economics News
    • Banking & Finance News
    • Construction & Property News
    • Consumer Goods News
    • Engineering News
    • Health Industry News
    • Industrial Sector News
    • Leisure Industry News
    • Media News
    • Natural Resources News
    • Retailing News
    • Telecoms News
    • Money

Links

  • Times Online Consumer Central
  • Borrowing
  • Consumer affairs
  • Funds
  • Insure
  • Invest
  • Money makeover
  • Mortgage
  • Pensions
  • Savings

other times online blogs

  • Alpha Mummy

    BabyBarista

    Ariel Leve

    Big Brother

    Charles Bremner

    Comment Central

    Consumer Central

    Cricket

    David Aaronovitch

    Eco Worrier

    Fashion

    Formula One

    Gerard Baker

    India Knight

    Inside Iraq

    Irwin Stelzer

    Lord Rees-Mogg

    Mary Beard (TLS)

    Mick Smith

    Money

    News

    Rugby

    Sports Commentary

    Peter Stothard (TLS)

    Richard Lloyd Parry

    Ruth Gledhill

    Sinofile

    Sport

    Surf Nation

    Technology

    Travel

    Video