Wealthy parents hide their net worth to keep kids motivated
A bizarre strategy to maintain ambition among the ultra-rich.
The story
A study shows many ultra-wealthy avoid telling heirs how much money they'll inherit, fearing it may reduce their drive and motivation.
Source: fortune.com
Our reading
The ultrawealthy are keeping their kids in the dark about their actual net worth, fearing it might make them lazy. It’s a bizarre twist on the idea of ‘financial transparency’—except the only thing being transparent is the fear of their own children’s work ethic.
Imagine a parent who would rather let their kid guess their net worth than risk the kid becoming a couch potato. It’s like giving a kid a puzzle without the box art, then blaming them for not knowing what the picture is.
At least the kids know they’re getting something, even if they don’t know how much. The real question is, who’s really being prepared here—the kids, or the parents who can’t stop worrying about them?
