The owner of an $11 billion fashion fortune says he plans to adopt his 51-year-old gardener and make him the official heir to a portion of his riches from the Herms dynasty, multiple outlets reported, adding Nicolas Puech to a list of the extremely wealthy making surprising decisions about where to bequeath their fortunes.

For background, he and I both immigrated to the U.S. from our country of birth around a decade ago. We are in vastly different industries, his with far more money than mine, but for the first few years of our careers our salary trajectories were similar and we were both living similarly comfortable lifestyles. For this reason, we were always comfortable discussing compensation and other financial topics with each other.


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While this may be *factually* true, if I were the one who was fortunate* enough to either have found a partner I could build a happy, partnered life with, or to have built a career that was very lucrative and made me extremely rich (like approaching the 1 percent in income/wealth) I would HOPE that I would have at least SOME awareness that other people are human beings who are NOT in that same situation.

Having some random rich guy from a completely different field make recommendations in my niche industry would yield exactly 0 results. Just because friend is doing very very well in his industry does not mean he has anything to offer a friend networking and seeking in a completely different industry.

Finally, you mention your friend being surprised that your finances are not the same. I know that is obvious to you, but it truly may not be obvious to your friend. Being in a different industry can really change financial expectations and approaches; I know I learn stuff about how money works for my friends at their jobs all the time and it can be massively different (even if we are making similar amounts at the moment). If you think the curiosity or surprise is genuine and not veiled condescension, this could be a good opportunity to sit down and talk it through with your friend. Help them understand. You are not required to! But you could, and it could help your friend. I know I have appreciated the folks who explained what their lives looked like to me when I had no reasonable reference point.

That is very generous of you, but please think that this is not an universal recipe. Some people (me included) would not feel good to let a richer friend always foot the tab. I would definitely not want that, it would feel patronizing.

You are citing misinformation/bad math to warrant saying I am the one somehow justifying bad behavior. But your sort of proving the point. Instead of getting mad at said friend, we could spend five minutes researching how much money they are actually talking about.

This. I remember when I was making about $35k in a LCOL area I was able to scrimp and save about $10k annually (no debt or kids at the time) and my friends boyfriend made $120k per year which was eye watering money to me. We were talking about savings so I assumed that he must have had so much saved/invested and he admitted that he not only spent every dollar he made but he actually overspent and was in debt due to the overspending. He also had no kids at the time.

If you take out of the equation everything that divides you and there is nothing left to be interesting for either of you, it is possible that the friendship has just run its course. It is sad but these things happen, but this is less about money and more about the people involved.

Now, the pope called a crusade on me (which I won) and shortly after, I think 3 or 4 host wars started. I won them all and I've banished all the hosts for their money (which was quite good, ~600 per host).

Now my issue here is that I still have loads of prisoners, some of which are popes, mayors and the like (of various place which I do not control) who are filthy rich (two has got 450 each, another ~1.4, another 4.5k, another 3.5k).

For Lord, student loans have been the road to riches. He was the CEO who built Sallie Mae into a financial colossus through fees, interest and commissions on billions of dollars of federally guaranteed student loans. For delivering handsome profits to investors, Lord received pay and stock worth hundreds of millions of dollars.

Almost every American knows someone like Suren, an adult burdened by a student loan. Fewer know that growing alongside the legions of indebted students is a formidable private industry that has been enriched by student debt.

The Department of Education has little incentive to fix the core problem. The loan program that began with the principal goal of helping disadvantaged students pay for tuition has become a moneymaker for the federal government.

By law, banks and credit card companies cannot seize Social Security benefits to collect debts. But in 1986, Congress gave the U.S. Treasury the go-ahead to garnish Social Security payments to collect money owed to the government.

The Internal Revenue Service building is seen in Washington, D.C., on April 5. The IRS got $80 billion in new funding as part of the climate and health care bill passed by Congress on Friday. Most of that money will be used to target wealthier tax evaders. Stefani Reynolds/AFP via Getty Images  hide caption

Some of that money will go to update decades-old computer systems at the Internal Revenue Service (IRS). And some is for improving customer service, including a taxpayer phone line where nine out of 10 calls go unanswered.

But Du Val has observed a certain personality quirk among his generational peers that could put them at a disadvantage in becoming self-starters who add value to the world and make a lot of money while doing so.

Do you think that once you graduate you won't have to ask your parents for money anymore?

Hell no! I don't know, my parents have always brought me up like they have a lot of money saved for me to go to school. They've always made it clear they'd rather me take a lot of classes and be really dedicated and do something at a high level that I love, rather than work my way up. Which I kind of regret because my work ethic is like not that good, but it gives me a lot of space to do things I'm passionate about and get opportunities that way.

VICE: When was the last time you asked your parents for money, does that ever happen? 

Lorenzo Ignacio: My parents pay for school, and they're also paying for my rent right now. I pay for living expenses like groceries and laundry and stuff. I probably haven't asked my parents for money in maybe the past three years? That's because I've been working for the past three years and also it's always just been a weird thing for me asking my parents for money. They also offer money to me a lot of the time when I'm going out. They only really do it in necessary cases where they feel like I might need a cab or whatever.

And do you think once you have your degree you won't have to ask your parents for money anymore?

I don't know. There's that whole belief that an arts student leaves school and kind of perishes in this pit of no money. But I find my parents raised me pretty well in terms of how to use your money, how to work for your money, how to save it. So I don't know, we'll see. I believe that if I continue working through school, working through the summers, I'll be fairly well off on my own.

Do you think there's a taboo around admitting your parents help you out?

I do, but I also think it's taught by the parents as well, at least in my case. Because I actually do experience that, where my parents will be like, "Don't tell your friends that we're paying for your rent," or, "Don't tell your friends that we're paying for your tuition. Say that you took out a lot of student loans."

So when was the last time you asked your parents for money?

I think the last time would have been in the summer, and probably for bus fare. I definitely did ask my parents for money a lot in the summer.

How did it work, did you save up a bunch before school?

Well I had a job, I worked at Lee's Donuts. I worked there for a little bit more than a year so I had all that money saved. And also just saved a lot of birthday money or whatever forever, so that's all in my savings account. So I've been good with that for a while, and that's basically what I've been using.

Do you notice people don't really like to admit that their parents are providing for them?

Yeah, a lot of my friends have had jobs, if you've never had a job I think that's kind of embarrassing. I remember talking with my friend and she was saying how she'd saved up all this money, and my other friend was like 'Yeah, well she's never had a job so I don't know what that's from.' And I was like, oh, OK. So there is a weird thing around asking for money for sure.

Where do you think you'd be at if you didn't have that job?

If I didn't have that job, A) I wouldn't have any money but also just having a part-time job, even if it's at some shitty donut place, it does teach you a lot about the world. It kind of prepped me for university. You do have to realize that in big institutions like that you're just a very small thing and you have to be able to get your work done, nobody's telling you what to do. You have to be able to self motivate and be watching yourself and fulfilling how you want to be.

VICE: When was the last time you asked your parents for money? 

Wyatt Sjoberg-Fox: Well I only ever ask my mom for money because she's the only one that has money.

Have you ever asked her for anything specific? 

I know I had to get her to send me money for a train ticket to Toronto because I couldn't miss Thanksgiving dinner with my friends because, I was like I'm going to rot away I'm going to be so depressed all weekend. 17dc91bb1f

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