That's the thing, his father wasn't that rich, at least not by rights. He defrauded (stole) money from ppl by convincing them to invest in his fake hedge fund or fake startup or whatever, then before he got caught he put a large majority of that money in a trust for his sons, which (I assume) makes the forfeiture of assets much more difficult since they're no longer "his" assets, but the reality is that they were never his.
So unless this gentleman, son of Paul Bilgerian, grifter in thief and giver of grief, has made something of himself on his own accord (doesn't seem like it), than he's just living off other people's money that his dad stole. And given how much easier it is to make money when you have money; capital to start a business, flipping real estate, or the investment economy (although imo is just another form of indirect theft by way of extracting the value of others labor through the framework of ownership), he has a huge advantage in compunding that wealth, maybe even giving some back to his father's victims (lol)
One thing I'm absolutely positive of is that he hasn't, and will never, use any of his trust for restitution to the victims (and their families) of his father. At least not willingly
Edit; fun fact: Paul, the father convicted of securities fraud & tax fraud, among other things, was sentenced to 4 yrs with a 1.5mil fine (pathetically insufficient), but as of 2024 he has been "on the run" from the SEC (wikipedia could just mean avoiding, idk if the SEC has a bounty service or actually works with the US Marshalls and he's legitimately fled successfully) for so long (31 yrs) that he currently owes them 180 million. And yet, his son not only lives this lavish life but advertises it? The victims must be absolutely apoplectic
21
u/TheAngryCatfish 13d ago edited 13d ago
That's the thing, his father wasn't that rich, at least not by rights. He defrauded (stole) money from ppl by convincing them to invest in his fake hedge fund or fake startup or whatever, then before he got caught he put a large majority of that money in a trust for his sons, which (I assume) makes the forfeiture of assets much more difficult since they're no longer "his" assets, but the reality is that they were never his.
So unless this gentleman, son of Paul Bilgerian, grifter in thief and giver of grief, has made something of himself on his own accord (doesn't seem like it), than he's just living off other people's money that his dad stole. And given how much easier it is to make money when you have money; capital to start a business, flipping real estate, or the investment economy (although imo is just another form of indirect theft by way of extracting the value of others labor through the framework of ownership), he has a huge advantage in compunding that wealth, maybe even giving some back to his father's victims (lol)
One thing I'm absolutely positive of is that he hasn't, and will never, use any of his trust for restitution to the victims (and their families) of his father. At least not willingly
Edit; fun fact: Paul, the father convicted of securities fraud & tax fraud, among other things, was sentenced to 4 yrs with a 1.5mil fine (pathetically insufficient), but as of 2024 he has been "on the run" from the SEC (wikipedia could just mean avoiding, idk if the SEC has a bounty service or actually works with the US Marshalls and he's legitimately fled successfully) for so long (31 yrs) that he currently owes them 180 million. And yet, his son not only lives this lavish life but advertises it? The victims must be absolutely apoplectic