{"id":22713,"date":"2016-08-12T19:50:32","date_gmt":"2016-08-12T12:50:32","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/poor-little-rich-kids-the-perils-of-inheriting-vast-wealth\/"},"modified":"2016-08-12T19:54:13","modified_gmt":"2016-08-12T12:54:13","slug":"poor-little-rich-kids-the-perils-of-inheriting-vast-wealth","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/poor-little-rich-kids-the-perils-of-inheriting-vast-wealth\/","title":{"rendered":"Poor little rich kids \u2013 the perils of inheriting vast wealth"},"content":{"rendered":"


\nAt 25, Hugh Grosvenor has inherited his family title and a \u00a39.3bn fortune \u2013 but while it sounds enviable, it will present the new duke with serious challengesIt is reported that when the 6th Duke of Westminster, who died this week, realised at the age of 15 that he was heir to his family\u2019s immense fortune, he dreaded it \u2013 the responsibility, the knowledge that he hadn\u2019t earned it, the isolation it would bring him. He would have prepared his son for the eventuality of becoming duke, although neither would have wanted to think it would happen as early as it did. On Tuesday, Gerald Grosvenor died suddenly at the age of 64; his son Hugh, now the 7th Duke of Westminster, is just 25 and inherits the family\u2019s \u00a39.3bn fortune.Aside from the trauma of losing a parent \u2013 having money does not ease the pain of bereavement \u2013 the 25-year-old finds himself in both an enviable, and unenviable, position. On the one hand, he becomes one of the richest men in the world; on the other, money didn\u2019t bring happiness to his father, who appeared to find his title and wealth a burden. \u201cGiven the choice I would rather not have been born wealthy, but I never think of giving it up,\u201d he said once. \u201cI can\u2019t sell it. It doesn\u2019t belong to me.\u201d Continue reading…
\n
\nSource : theguardian.com
\nRead more…Poor little rich kids \u2013 the perils of inheriting vast wealth<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

At 25, Hugh Grosvenor has inherited his family title and a \u00a39.3bn fortune \u2013 but...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-22713","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5Ul","jetpack-related-posts":[{"id":52900,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/duke-of-westminsters-12bn-property-firm-hit-by-london-slump\/","url_meta":{"origin":22713,"position":0},"title":"Duke of Westminster's \u00a312bn property firm hit by London slump","date":"April 26, 2017","format":false,"excerpt":"\r Grosvenor Group reports worst UK performance since 2008 as Brexit and stamp duty rise cause slowdown in capitalThe 26-year-old Duke of Westminster, who is believed to be the world\u2019s richest person under 30 with a \u00a39bn fortune, has been hit by a steep drop in returns on his family\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136078,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/duke-of-westminster-the-london-property-baron-born-with-longest-silver-spoon\/","url_meta":{"origin":22713,"position":1},"title":"Duke of Westminster: the London property baron born with \u2018longest silver spoon\u2019","date":"April 25, 2023","format":false,"excerpt":"\r Dynasty set to expand as Hugh Grosvenor, described as UK\u2019s \u2018most eligible bachelor\u2019, announces engagement to Olivia HensonDuke\u2019s property firm pays \u00a350m dividend despite profits dropThe Duke of Westminster, Hugh Grosvenor, was famously described by his father as being \u201cborn with the longest silver spoon anyone can have\u201d.Grosvenor, 32,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22644,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/inheritance-tax-why-the-new-duke-of-westminster-will-not-pay-billions\/","url_meta":{"origin":22713,"position":2},"title":"Inheritance tax: why the new Duke of Westminster will not pay billions","date":"August 11, 2016","format":false,"excerpt":"\r The fact that Hugh Grosvenor\u2019s estate is held in a trust means that his \u00a39bn inheritance is likely to remain largely intactHad the Grosvenor estate bequeathed to the new Duke of Westminster been liable for 40% inheritance tax, the amount owed to the Treasury would have been not far\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22462,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/britains-wealthiest-landowner-the-duke-of-westminster-has-died\/","url_meta":{"origin":22713,"position":3},"title":"Britain\u2019s wealthiest landowner, the Duke of Westminster, has died","date":"August 10, 2016","format":false,"excerpt":"\r The Duke owned swathes of prime London real estate, as well as property overseas, including Asia The Duke of Westminster. Image credit: wikimedia The Duke of Westminster, Britain\u2019s wealthiest landowner has died at the age of 64. Gerald Cavendish Grosvenor owned large parts of prime real estate in London\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22538,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/duke-of-westminster-dies-aged-64-britains-third-richest-man-had-strong-uae-ties\/","url_meta":{"origin":22713,"position":4},"title":"Duke of Westminster dies aged 64: Britain's third richest man had strong UAE ties","date":"August 10, 2016","format":false,"excerpt":"\r Britain's wealthiest landowner, the Duke of Westminster, has died aged 64.Gerald Cavendish Grosvenor, Britain's third richest man, died late on Tuesday in Lancashire after being taken ill suddenly on his Abbeystead Estate near Lancaster.The sixth Duke, who was ranked 68th richest billionaire in the world by Forbes with a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22749,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/duke-of-westminster-a-9bn-stress-test\/","url_meta":{"origin":22713,"position":5},"title":"Duke of Westminster \u2013 a \u00a39bn stress test","date":"August 13, 2016","format":false,"excerpt":"\r His death creates uncertainty for the Grosvenor Group as the title passes to his 25-year-old heir\r \r Source : ft.com\r Read more...Duke of Westminster \u2013 a \u00a39bn stress test","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22713"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=22713"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22713\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=22713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=22713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=22713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}