Why One Young Houston Couple Won’t Leave $4 Billion Fortune for Their Three Children
A young billionaire couple from Houston, Texas, has decided to give away their estimated $4 billion dollar fortune instead of leaving it for their children, and you might be surprised to know why.
Wunderkind John Arnold is not yet 40 years old, but last October he closed his hedge fund, Centaurus Energy, and retired after amassing an estimated wealth of $4 billion in the last 10 years.
Now, Arnold who began his career at Enron, and his wife Laura have dedicated the rest of their lives to giving away that wealth to support innovative ideas that can solve society’s myriad problems because they don’t plan on leaving it for their three children.
“Because of our backgrounds and because of our own experiences, we just don’t believe in dynastic wealth,” said Laura Arnold in an interview posted on givesmart.org.
“We don’t want them to feel entitled. We don’t want them to feel life has been solved for them. We always talk amongst ourselves that wealth should allow the kids to be able to do anything they want but not to do nothing and it was very hard as a parent to figure out how to do this,” she highlighted