A mining billionaire in Australia has cut her children out of the stakes they had in her families business. She says they are not fit to take care of their money and that they need a job. This is going through the court systems in Australia right now.
The question is... Who raised these children? The rich want their children to grow up with middle class mind sets but how can they do that if they have been given everything they wanted... It is a noble goal but do you really think that these children were raised with that in mind? Of course we can't blame it on the parents... Maybe they tried...
Do you think they should be cut off or do you think if they are of age she shouldn't be able to do that?
I don't understand why she can't just have a happy medium? The kids can pay most of their bills working and she can help with things they need.
Odd story. The Mom also inherited her fortune. She claims the children don't have the financial skills to manage the money. Didn't these rich kids go to college? If they don't have skills, why not educate them?
My opinion, if the kids are that spoiled, cut them off for five years and let the children take care of themselves. This way they can learn survival skills in case they ever need them.
Its her money she can do what she wants with it and if she is the higher % holder they have no say so really. From what the article said her father started the business so she probably worked there from the get go and saw all the struggle with money and without.
If I had that kind of money and my kids were upset about not getting their fair share, I would give them a home and a car then they would have to take care of all the other stuff. They pay their own gas, utilities, groceries and whatever other quirks they have. Parents only have to provide food, clothing and shelter until kids are 18, then it is up to the kids to make arrangements for their own futures.