Ron from a Different World was out here fukking up Millions

[Doobie Doo]

So is this a hit piece or what?

Nope, I just think it's something else to be aware of. We talk about making generational wealth but not how to maintain it.

 

[Shamayw_33]

The dad probably should have put that money in a trust like a lot of those rich cacs do for their kids and put certain stipulations on it and made him wait until he was 30-35 years old or so until it matured.

It's harder to keep the money from them once they're over the age of 18. You basically have to trust the money to someone else and hope they give them the money once they turn 30-35...hoping they don't use the money for themselves or their own kids in the mean time.

 

[Wiseborn]

Damn...all the jokes about Ron taking over his dad's car dealership were sorta "on the nose" for his real life.

That happens with most families. $15 million is just enough money to live comfortably but would be easy to squander with one bad move.

My guess is that his pops, coming from that generation, had to be a financial whiz/genius. Darryl might be above average but dudes smarter than him have lost MUCH larger fortunes.

That 15 million was worth way more money in'88 than 15 million is worth now.

All he had to do is do what his father did and he could've been still been spending money from '88 or better yet borrowing money using assets as collateral and writing off the interest on his taxes.

 

[WesCrook]

Pops didn't have the luxury having "Michael" as another son to run things. Instead he was stuck with "Fredo".

 

[Eastside Get The Money]

Did he straight blow it or bad investments?

 

[Rawtid]

Why would you put someone inexperienced at the helm of millions of dollars? Your children aren’t your legacy just because you birthed them, you have to structure them to do that.

 

[EarlyEarly]

Dude suddenly died so everything was still tied up. It's not like was old as shyt on his deathbed and left it in a trust fund. He probably just tried to move like his pops and didn't know what he was doing and blew it.

 

[CrimsonTider]

How do you know his father didn't try to teach him? It don't matter how much you teach someone you can't make them understand. And even if they do it won't stop them from making bad decisions. This type of shyt happens all the time.

Exactly this. You can teach someone everything you know that doesn’t mean they’re going to be able to manage it successfully

So is this a hit piece or what?

This is more of the twitter LLC. BS

Why would you put someone inexperienced at the helm of millions of dollars? Your children aren’t your legacy just because you birthed them, you have to structure them to do that.

shut up

 

[EBK String]

@Dorian Gray

yall boule kids stay fukking up

 

[13473]

Did he squander his inheritance or was it taken from him?

he wasn't left $15 million
he was left to run a business worth $15 million, but he had no business leadership experience.
the value of the company plummeted to $1 million
his other relatives sued him, so i'm guessing they were living off the company as well.


an article states he put his mom & sister on payroll, that 5 million somehow went missing, the business owed IRS millions along with other debtors.

Spoiler: background article

[Travers] Bell had also been major shareholder in Freedom National Bank, which was taken over by federal authorities three years after he died. In addition, Cocoline Chocolate Co.,…filed a Chapter 11 bankruptcy petition [in 1992].

A Superior Court probate judge in Morris County, N.J., ruled…actor Darryl Bell wasted the $14 million estate left by his late father out of imprudence, rather than wrongdoing as charged in a suit…While Bell had no experience in the business, court records indicate he put his mother and sister on the payroll and amassed a huge debt on the corporate credit card. As assets and revenue plummeted at the firm, the widow of the late founder, Laura Bell, and two of his sisters, Joanne Walker and Karen Bell McClearin, filed suit charging the young actor mismanaged the established New York securities firm.’ -via Jet Magazine; May 1993

After it was all said and done, Darryl’s father’s business plummeted from a net worth of $14.9million to $1million. The business owed several debtors, including the IRS, which had a $2.3million stake in the estate at that time.

In their suit, the women [Darryl’s aunts and father’s widow] had charged [that Darryl M.] Bell had mismanaged the business and misappropriated monies. They also asked the court to name new executors of the will and asked that co-executors, Darryl and his grandfather, be held accountable for replacing $5 million they maintained had disappeared from the estate. In dismissing the case after a six-month trial, [Judge] Stanton attributed the firm’s hard times to Bell’s inexperience rather than malicious intent. […] [Judge] Stanton said, “This estate has turned out to be a disaster. It is all very regrettable.” -via Jet Magazine, 1993​

Mo' Money, Mo' Probs: "Different World" Actor Lost Millions & His Own Family Sued Him

 

[invalid]

@Dorian Gray

yall boule kids stay fukking up

his daddy is from the projects. my people were professionals so they certainly weren’t talking to people from the projects.

 

[smoove157]

$15 in 1988 is equivalent in purchasing power to about $34.78 today, an increase of $19.78 over 33 years. The dollar had an average inflation rate of 2.58% per year between 1988 and today, producing a cumulative price increase of 131.88%.

thats rough right there.

Ron did try and hit Whitley though, just saying

 

[EBK String]

his daddy is from the projects. my people were professionals so they certainly weren’t talking to people from the projects.

 

[BaldingSoHard]

$15 in 1988 is equivalent in purchasing power to about $34.78 today, an increase of $19.78 over 33 years. The dollar had an average inflation rate of 2.58% per year between 1988 and today, producing a cumulative price increase of 131.88%.

thats rough right there.

 

[Tim2520]

I remember hearing about his father being very successfu, I didn’t hear about him running shyt in to the ground