Here we have a delightful story which, if nothing else, enforces my theory that
$14 $10 million just doesn’t go as far as it used to:
What’s new here? Probably not much, if you’re familiar with what happens when people who suck with money actually get some. In this particular train wreck, the Martin family came into big money; they spent big money; they trusted what money they didn’t spend to “bankers and brokers;” they ended up broke and miserable.
I’m not sure how many money rules they broke, but it was a bunch.
From the article:
That luxurious world was fueled by a check Mr. Martin received in 1998 for $14 million, his share of the $600 million sale of Martin Media, an outdoor advertising business begun by his father in California in the 1950s. After taxes, he kept about $10 million.
But as so often happens to those lucky enough to realize the American dream of sudden riches, the money slipped through the Martins’ fingers faster than they ever imagined.
Read the article, and tell me if you think this gentleman has learned much of anything from his trip to rich and back.
Because I don’t get the impression that he has.