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Son kills Manhattan hedge fund founder over $200 allowance cut
#1

Son kills Manhattan hedge fund founder over 0 allowance cut

Killed his dad because he wanted to cut his 30 year old son's allowance by 200 bucks a week down to 400 bucks a week. That is his spending money. His rent was covered separately. Incredible...

http://www.foxnews.com/us/2015/01/06/hed...apartment/

Quote:Quote:

The son of a millionaire Manhattan hedge fund founder who allegedly gunned down his dad over his allowance has been arraigned on a second-degree murder charge, authorities said.

Thomas Gilbert Jr., 30, was also charged with criminal possession of a weapon and criminal possession of forgery devices in the Sunday killing of his 70-year-old father.

New York City police said Thomas Gilbert Sr. was shot in the head at his Beekman Place residence on Manhattan's East Side Sunday afternoon after the two argued over the son's allowance.

They say the son went to his parents' home and asked his mother to go out to get him some food. About 15 minutes later, she got a "bad feeling" and came back, Robert Boyce, the chief of detectives for the New York Police Department, told the Associated Press. When she returned, police say she found her husband on the floor with a bullet wound in the head and a handgun near his body.

A law enforcement source told the New York Post that Thomas Gilbert Jr. had just been told by his father that he would only receive $400 for spending money per month from that point on in addition to $2,400 per month for rent. The younger Gilbert had previously received $600 per month.

"She [Mrs. Gilbert] found Senior on the floor with a bullet hole in the head," said Boyce. "She also found a gun resting on his chest with his left hand covering it."

But Boyce said it was a staged suicide — his son was trying to cover up the killing. Officers with a search warrant found magazines, loose bullets and a shell that matched the gun found at the scene in Gilbert Jr.'s apartment, police said. Authorities were investigating how he got the gun.

The defendant is due back in court on Friday. His attorney didn't immediately return a call for comment.

A neighbor told the paper that he had learned from a doorman that the younger Gilbert had entered the building shortly after his father, but left minutes later and did not respond to the doorman's greeting.

In 2011, the elder Gilbert founded Wainscott Capital Partners Fund, which has $200 million in assets. Industry publication Hedge Fund Alert said in an August 2013 article that the fund had a net return of nearly 25 percent in 2012.

He was a graduate of Princeton University and Harvard Business School. Gilbert Jr. also attended Princeton, graduating in 2009 with a degree in economics. Authorities said he had no recent work history.

Gilbert Sr. worked on Wall Street for more than 40 years, according to his profile on Wainscott's website, and previously co-founded Syzygy Therapeutics, a biotech asset acquisition fund. He also was founder and CEO of an online teacher-education company called Knowledge Delivery Systems Inc.

Wainscott had no immediate comment Monday. The hedge fund invests in biotechnology and health care stocks, which typically make up about 70 to 80 percent of its investments, according to the firm's website. The fund focuses on stocks traded on large exchanges like the Nasdaq and New York Stock Exchange, with as many as 70 different investments at one time. The minimum amount for investors is $500,000.

"He was a pillar on Wall Street — somebody everyone looked up to," Hector Torres, a neighbor of Gilbert's who also works in finance, told the New York Post. "Very nice gentleman ... They seem like a normal family," Torres added. “Every time I saw him in the elevator, he would say hi, he would ask how I was."

The younger Gilbert has a pending criminal case in the town of Southampton, on eastern Long Island.

Gilbert was arrested Sept. 18 on a charge of criminal contempt. Southampton town police say he violated an order of protection issued in Brooklyn in June. He has pleaded not guilty and has a Feb. 2 court date scheduled.

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#2

Son kills Manhattan hedge fund founder over 0 allowance cut

I had to re-read this so many times to convince myself that a 30-year old really had an "allowance" and I wasn't just misinterpreting.
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#3

Son kills Manhattan hedge fund founder over 0 allowance cut

This is like a case study on why you shouldn't spoil your kids.

[Image: facepalm3.gif]
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#4

Son kills Manhattan hedge fund founder over 0 allowance cut

Fucking trust fund brats.

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#5

Son kills Manhattan hedge fund founder over 0 allowance cut

It's not that unusual. I've run across people much older than 30 who had allowances, cars bought for them, rent paid or condos bought by wealthy parents.

Typically the male offspring is a complete fuckup/druggie/drunkard/spendthrift/crazy or some combination of those. That's likely the case here.

If the child is female they get the money just for being female.

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#6

Son kills Manhattan hedge fund founder over 0 allowance cut

30 years unemployed with no job and relaying on an allowance. WTF
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#7

Son kills Manhattan hedge fund founder over 0 allowance cut

If it wasn't for the fact somebody died I would probably laugh. This is the most trivial reason to kill I’ve ever heard. Not even a first world problem.
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#8

Son kills Manhattan hedge fund founder over 0 allowance cut

How did the fucker not see the irony of killing his supply of money? Seriously, has he never heard the saying "Do not bite the hand that feeds you."?

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#9

Son kills Manhattan hedge fund founder over 0 allowance cut

Quote: (01-07-2015 12:21 AM)Snowplow Wrote:  

How did the fucker not see the irony of killing his supply of money? Seriously, has he never heard the saying "Do not bite the hand that feeds you."?

Just goes to show you graduating from Princeton doesn't necessarily imply intelligence.
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#10

Son kills Manhattan hedge fund founder over 0 allowance cut

He will get rent free living and will get a $600 (through work) in Prison also. Just no doorman, cocaine, and high end meals.
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#11

Son kills Manhattan hedge fund founder over 0 allowance cut

He's going to end up like the guy in the kitchen scene in American Me. Ass raped, and shanked.

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#12

Son kills Manhattan hedge fund founder over 0 allowance cut

Wonder if the judge will give him the "too soft for jail" treatment they gave to that drunk driving kid in Texas.
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#13

Son kills Manhattan hedge fund founder over 0 allowance cut

I used to be shocked when I read about and saw graphic depictions of the death penalty by hanging, drawing and quartering, but in this case I wouldn't mind bringing it back...

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#14

Son kills Manhattan hedge fund founder over 0 allowance cut

What an entitled little prick. He won't last long in prison.

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#15

Son kills Manhattan hedge fund founder over 0 allowance cut

Quote:Quote:

The son of a millionaire Manhattan hedge fund founder who allegedly gunned down his dad over his allowance has been arraigned on a second-degree murder charge, authorities said.

Well it was either that or beta-bux the maker of Depression Quest......
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#16

Son kills Manhattan hedge fund founder over 0 allowance cut

I know at least 3 people like the son in NYC.
My mom comes from a well off NYC family but got the fuck out of that atmosphere when she could...although I was continually exposed to it when I went to family visits in NYC or social clubs and of course at boarding school. Fortunately she married my father, who was an army vet and entrepreneur instead of finance douchebag. He taught me about being a man.
Typically the father is a shitty parent who believes a bubble of privilege produces admirable human qualities.
They were not there at all when the child is young, as they are working 80+ hours a week. Then they ship the kid off to boarding school. They don't teach them about sports or women or hiking/camping/hunting in remote locations at a young age - there is no building of physical courage and independence.
Every problem is solved with money.
Then at 30 years old, daddy realizes there's a problem. Except you can't really start raising a child at 30. When they have had a tit in their mouth their entire adult life, and have never had to face real consequences, cutting their allowance isn't going to magically turn them into a responsible adult.

"Me llaman el desaparecido
Que cuando llega ya se ha ido
Volando vengo, volando voy
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#17

Son kills Manhattan hedge fund founder over 0 allowance cut

When I read the story I knew that he was on psychotropics - practically 99,99% of all cases now are, as some of them have more serious side effects including "murderous thoughts".

http://www.zerohedge.com/news/2015-01-06...ceton-econ

[Image: thomas-gilbert-jr.jpg?w=542&h=306&l=50&t=50]

That's why the uber-wealthy truly powerful families start to take you seriously only after you have managed to preserve and expand the family fortune for 3 generations. His will likely end with this one.

Smart, good-looking, tall, born wealthy, Princeton economics degree - but still a fuck-up. Wealthy RVF forum members should really beware when raising their kids.

Father likely tried to motivate his son by cutting his allowance, but of course that's no motivation.

The guy recently even dated a 49yo Rothschild clan sugar-mommy who supplemented his lifestyle:

[Image: 24732AA600000578-2897965-image-m-3_1420548184186.jpg]

It's a shame really and you won't get much of a mention of the the psychotropics by the media. A solid orthomolecular high potency multi, 500-2000mg of tryptophan daily and some therapy by a Red Pill psychologists would have done the guy wonders, but who cares - white privilege in action...
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#18

Son kills Manhattan hedge fund founder over 0 allowance cut

Everyone I've met with a trust fund seems a little fucked up in one way or another.

I have two friends in this situation. Both come from an Old Money blue blood WASP family and have never wanted for anything.

One used to be massively egocentric and entitled, until enough people called him out on it that it brought him down to earth and he's become a much more chill and likable guy. I enjoy hanging out with him. Still, he's almost 29 and has never had a real job.

His older brother (mid 30s) is a different case. Nice guy, very personable, used to have a job but has been living off his trust fund for years while trying to get his "startup" off the ground.

During this time he's been routinely flying around the country on a whim to party and going to "burns" (local Burning Man-spinoff events), and has expensive tastes on everyday things like clothes, restaurants, etc...I think the safety net holds him back. If he quit the partying, moved to some one-horse town in noweheresville where he didn't know anyone and just sat the fuck down and focused on his company, it would have been up by now.

Another guy I know apparently inherited millions and was prone to spending wildly on nonsense- he once disappeared from the bar one night, walked drunk into a nearby restaurant and dropped $300 on dinner and wine just for himself. He seems to have pulled himself together in recent years though.

Seems like taking away all the struggle of life can be one of the worst things you can do for your kids.

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#19

Son kills Manhattan hedge fund founder over 0 allowance cut

He might get 15 years.

On the bright side for him, he will be rich when he gets out.

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#20

Son kills Manhattan hedge fund founder over 0 allowance cut

Quote: (01-07-2015 08:32 AM)NovaVirtu Wrote:  

Everyone I've met with a trust fund seems a little fucked up in one way or another.

I have two friends in this situation. Both come from an Old Money blue blood WASP family and have never wanted for anything.

One used to be massively egocentric and entitled, until enough people called him out on it that it brought him down to earth and he's become a much more chill and likable guy. I enjoy hanging out with him. Still, he's almost 29 and has never had a real job.
...
Seems like taking away all the struggle of life can be one of the worst things you can do for your kids.

Yup - met quite a few of those mostly due to my private banking job in the past and later on through friends.

What I later on realized and recommended to others was this:

If you do not have the time or the patience to be a good parent to your child, it's better to send them off (best at an early age from 6 to 10) to an excellent boarding school in Germany or Switzerland - Salem etc. - a school where money is not an issue (since everyone has it) and the teachers are fantastic - in terms of academics as well as in raising the kids into moral, self-disciplined people.

I would not recommend boarding schools for teenagers on - most of the fucked up mentality has been embedded by then and they will likely rebel at such a school and be thrown out - I've seen that too often myself.

There are a multitude of ways in order for their kids to turn out more or less decent and balanced - you just have to study the long-term wealthy families and do it similarly. Obviously this Hedge Fund manager did nothing of that sort.

Also sometimes you have to realize is that not all your kids will be willing or able to be worthy heirs of the family fortune. You have to be willing to let one son go their own way and support him nonetheless. If his father were smart, he would have other kids and would know that it's sufficient if his son has a super-smart ambitious son - sometimes it just skips a generation - that's not a problem really, if you take a long-term approach.
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#21

Son kills Manhattan hedge fund founder over 0 allowance cut

Quote: (01-07-2015 08:44 AM)TravelerKai Wrote:  

He might get 15 years.

On the bright side for him, he will be rich when he gets out.

So he still gets the money you think even after murdering his father? I bet it all goes to his mom who will definitely write him out of the will. Well I shouldn't say definitely. Also, whatever he does get will be used to pay for protection inside prison. Mainly anal protection with a touch of you look like a douchebag get your ass kicked protection.

Fate whispers to the warrior, "You cannot withstand the storm." And the warrior whispers back, "I am the storm."

Women and children can be careless, but not men - Don Corleone

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#22

Son kills Manhattan hedge fund founder over 0 allowance cut

Quote: (01-07-2015 10:55 AM)samsamsam Wrote:  

Quote: (01-07-2015 08:44 AM)TravelerKai Wrote:  

He might get 15 years.

On the bright side for him, he will be rich when he gets out.

So he still gets the money you think even after murdering his father? I bet it all goes to his mom who will definitely write him out of the will. Well I shouldn't say definitely. Also, whatever he does get will be used to pay for protection inside prison. Mainly anal protection with a touch of you look like a douchebag get your ass kicked protection.

That's possible she might write him out but you never know with these types. She may have been the one that spoiled him rotten the worse. If she is visiting him in the can, there will be your hint. She might see this as one big ass time out for Little Johnny.

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#23

Son kills Manhattan hedge fund founder over 0 allowance cut

Quote: (01-07-2015 08:48 AM)Zelcorpion Wrote:  

Yup - met quite a few of those mostly due to my private banking job in the past and later on through friends.

What I later on realized and recommended to others was this:

If you do not have the time or the patience to be a good parent to your child, it's better to send them off (best at an early age from 6 to 10) to an excellent boarding school in Germany or Switzerland - Salem etc. - a school where money is not an issue (since everyone has it) and the teachers are fantastic - in terms of academics as well as in raising the kids into moral, self-disciplined people.

I would not recommend boarding schools for teenagers on - most of the fucked up mentality has been embedded by then and they will likely rebel at such a school and be thrown out - I've seen that too often myself.

There are a multitude of ways in order for their kids to turn out more or less decent and balanced - you just have to study the long-term wealthy families and do it similarly. Obviously this Hedge Fund manager did nothing of that sort.

Also sometimes you have to realize is that not all your kids will be willing or able to be worthy heirs of the family fortune. You have to be willing to let one son go their own way and support him nonetheless. If his father were smart, he would have other kids and would know that it's sufficient if his son has a super-smart ambitious son - sometimes it just skips a generation - that's not a problem really, if you take a long-term approach.

In my personal experience, the rate of fuckedupness among the established wealthy versus the noveaux rich is roughly equal.
Here is a public example (not someone I know, but not that far off either)
Check out the Durst family (http://www.nytimes.com/2015/01/02/nyregi...her.html), they've got a stone cold psycho killer in their midst and they're as blue blood as it comes.
Other famous cases include the Dupont heir.
The continuation of wealth across generations is not a result of long term wealthy having a magic formula for passing virtue down through the generations. Usually any magic sauce is gone 3rd generation, and after that it's just random chance for when good genes/balls of steel pop up again.
Wealth preservation rather than a question of who raises their kids a certain way, is more generally a result of who has good lawyers and sets up inter generational discretionary trusts that are shielded from legal judgments and irresponsible individuals. They pay out according to the founder's intent, and the beneficiaries can't do shit to touch the principal or to affect/influence disbursements.

"Me llaman el desaparecido
Que cuando llega ya se ha ido
Volando vengo, volando voy
Deprisa deprisa a rumbo perdido"
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#24

Son kills Manhattan hedge fund founder over 0 allowance cut

Quote: (01-07-2015 02:21 PM)VolandoVengoVolandoVoy Wrote:  

Quote: (01-07-2015 08:48 AM)Zelcorpion Wrote:  

Yup - met quite a few of those mostly due to my private banking job in the past and later on through friends.

What I later on realized and recommended to others was this:

If you do not have the time or the patience to be a good parent to your child, it's better to send them off (best at an early age from 6 to 10) to an excellent boarding school in Germany or Switzerland - Salem etc. - a school where money is not an issue (since everyone has it) and the teachers are fantastic - in terms of academics as well as in raising the kids into moral, self-disciplined people.

I would not recommend boarding schools for teenagers on - most of the fucked up mentality has been embedded by then and they will likely rebel at such a school and be thrown out - I've seen that too often myself.

There are a multitude of ways in order for their kids to turn out more or less decent and balanced - you just have to study the long-term wealthy families and do it similarly. Obviously this Hedge Fund manager did nothing of that sort.

Also sometimes you have to realize is that not all your kids will be willing or able to be worthy heirs of the family fortune. You have to be willing to let one son go their own way and support him nonetheless. If his father were smart, he would have other kids and would know that it's sufficient if his son has a super-smart ambitious son - sometimes it just skips a generation - that's not a problem really, if you take a long-term approach.

In my personal experience, the rate of fuckedupness among the established wealthy versus the noveaux rich is roughly equal.
Here is a public example (not someone I know, but not that far off either)
Check out the Durst family (http://www.nytimes.com/2015/01/02/nyregi...her.html), they've got a stone cold psycho killer in their midst and they're as blue blood as it comes.
Other famous cases include the Dupont heir.
The continuation of wealth across generations is not a result of long term wealthy having a magic formula for passing virtue down through the generations. Usually any magic sauce is gone 3rd generation, and after that it's just random chance for when good genes/balls of steel pop up again.
Wealth preservation rather than a question of who raises their kids a certain way, is more generally a result of who has good lawyers and sets up inter generational discretionary trusts that are shielded from legal judgments and irresponsible individuals. They pay out according to the founder's intent, and the beneficiaries can't do shit to touch the principal or to affect/influence disbursements.

The first generation earn it, the second manage/grow it and the third spend it.

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#25

Son kills Manhattan hedge fund founder over 0 allowance cut

A key step in becoming an adult is adjusting to living without a safety net and facing all consequences of your actions and holding yourself accountable. We can only speculate but there was clearly something deep-rooted in his psyche caused by events years ago. Maybe his parents didn't spend enough time with him or support him during the awkward high school years. On paper he had it all - top class education, a sizeable inheritance within a decade, and a life-line (allowance) whilst he should have been working on his own business. Yet alas...
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