Kids, ya got to love em

TheMercenary · 03-28-2007, 10:41 AM

A $131m fortune — and just $816 in the bank

James Bone in New York
The ageing doyenne of New York high society had a fortune of $131 million, including more than $1 million in jewellery, when her grandson alleged that she was living in squalor in her Park Avenue apartment.

Brooke Astor, who turns 105 on Friday, was at the centre of a family feud when her grandson accused her only child of “elder abuse” last year. Philip Marshall, the grandson, complained in court papers that his father, Anthony Marshall, was allowing the celebrated philanthropist “to sleep in the TV room in torn nightgowns on a filthy couch that smells, probably from dog urine”. A judge found that allegations of “intentional elder abuse” could not be substantiated. But Anthony Marshall agreed to step aside anyway as his mother’s guardian, putting her in the care of her friend Annette de la Renta, the wife of the designer Oscar de la Renta.

A 12-page inventory of Mrs Astor’s assets, obtained by the New York Times, now reveals that the legendary socialite is a multimillionaire. The document, prepared as part of the court battle last year, estimates that Mrs Astor’s 12-room Park Avenue apartment is worth about $24 million (£12 million) — or $2 million a room — and houses $1.3 million in jewellery.

Her 65-acre estate in Briarcliff Manor, north of New York, is valued at $17 million, with its contents put at another $3.5 million. Her bank accounts range from a Premier Platinum account at Chase Bank worth $59,473 to a Citibank current account containing $816.

The bulk of her wealth is in hedge funds and private equity investments and totals $47 million, including $20.6 million in Optima Fund LP, which invests in American equities.

According to the report, her largest single stock holding was $3.4 million of shares in the investment bank Morgan Stanley, with $2.1 million of United Technologies shares and $907,610 of Cisco Systems stock. Other holdings include leading American companies such as Johnson & Johnson, Citigroup, Eli Lilly, Four Seasons Hotels, Google, Molson Coors Brewing, Pepsico, Procter & Gamble and Staples. Her energy stocks included XTO Energy, Encana and Cimarex Energy.

She also held some $3 million in bonds issued by New York City, the Metropolitan Transportation Authority, the Long Island Power Authority, the New York State Tollway Authority and the Town of Hempstead, among others.

Mrs Astor, a distant relative of the British Astors who hosted the “Cliveden Set” at their country house in Buckinghamshire in the 1930s, is said to be suffering from dementia.

A lawyer for Anthony Marshall, 82, a Tony Award-winning Broadway producer and former CIA officer, said that the financial report showed he had been a good steward of her fortune.

Anthony Marshall asserts that in the quarter-century that he handled his mother’s investments, her liquid assets — excluding real estate and personal property — soared from $19 million to $80 million.

Nevertheless, he agreed in October to return more than $11 million in art and jewellery to his mother to head off a court case aimed at trying to recover millions in cash, property and stocks that he is accused of taking improperly.

Under the settlement, any claims against him will now be dealt with after Mrs Astor’s death by a court-appointed executor of her estate.

http://www.timesonline.co.uk/tol/new...cle1577241.ece

Sheldonrs · 03-28-2007, 10:50 AM

I remember seeing Brook Astor in New York a long time ago and thinking she looked so thin that she reminded me of a skeleton with skin on it. But she was always donating money to good causes and going to the Kentucky Derby every year and seemed to be having a good time then.
It's sad to see her life ending this way.

glatt · 03-28-2007, 11:31 AM

Speaking of rich kids. My wife got unsolicited tickets in the mail yesterday to see Donald Trump's daughter give some presentation on how to make money. Was she wrong to throw them away?

tw · 03-28-2007, 10:20 PM

Quote:

Originally Posted by glatt

Speaking of rich kids. My wife got unsolicited tickets in the mail yesterday to see Donald Trump's daughter give some presentation on how to make money. Was she wrong to throw them away?

Free tickets to see a PYT dressed in the latest fashions? Is that not why some spend money for fashion shows?

Oh. You mean she might speak?

Shawnee123 · 03-28-2007, 11:40 AM

Wasn't very nice to the Donald's daughter. Poor kid is just trying to make a living.

Clodfobble · 03-28-2007, 03:00 PM

Quote:

Originally Posted by glatt

Speaking of rich kids. My wife got unsolicited tickets in the mail yesterday to see Donald Trump's daughter give some presentation on how to make money. Was she wrong to throw them away?

She was right. Me and all my neighbors got unsolicited tickets in the mail to see Donald Trump's "chief financial advisor" give a presentation. It's all a scam.

03-28-2007, 10:41 AM	#1
TheMercenary “Hypocrisy: prejudice with a halo” Join Date: Mar 2007 Location: Savannah, Georgia Posts: 21,393	Kids, ya got to love em A $131m fortune — and just $816 in the bank James Bone in New York The ageing doyenne of New York high society had a fortune of $131 million, including more than $1 million in jewellery, when her grandson alleged that she was living in squalor in her Park Avenue apartment. Brooke Astor, who turns 105 on Friday, was at the centre of a family feud when her grandson accused her only child of “elder abuse” last year. Philip Marshall, the grandson, complained in court papers that his father, Anthony Marshall, was allowing the celebrated philanthropist “to sleep in the TV room in torn nightgowns on a filthy couch that smells, probably from dog urine”. A judge found that allegations of “intentional elder abuse” could not be substantiated. But Anthony Marshall agreed to step aside anyway as his mother’s guardian, putting her in the care of her friend Annette de la Renta, the wife of the designer Oscar de la Renta. A 12-page inventory of Mrs Astor’s assets, obtained by the New York Times, now reveals that the legendary socialite is a multimillionaire. The document, prepared as part of the court battle last year, estimates that Mrs Astor’s 12-room Park Avenue apartment is worth about $24 million (£12 million) — or $2 million a room — and houses $1.3 million in jewellery. Her 65-acre estate in Briarcliff Manor, north of New York, is valued at $17 million, with its contents put at another $3.5 million. Her bank accounts range from a Premier Platinum account at Chase Bank worth $59,473 to a Citibank current account containing $816. The bulk of her wealth is in hedge funds and private equity investments and totals $47 million, including $20.6 million in Optima Fund LP, which invests in American equities. According to the report, her largest single stock holding was $3.4 million of shares in the investment bank Morgan Stanley, with $2.1 million of United Technologies shares and $907,610 of Cisco Systems stock. Other holdings include leading American companies such as Johnson & Johnson, Citigroup, Eli Lilly, Four Seasons Hotels, Google, Molson Coors Brewing, Pepsico, Procter & Gamble and Staples. Her energy stocks included XTO Energy, Encana and Cimarex Energy. She also held some $3 million in bonds issued by New York City, the Metropolitan Transportation Authority, the Long Island Power Authority, the New York State Tollway Authority and the Town of Hempstead, among others. Mrs Astor, a distant relative of the British Astors who hosted the “Cliveden Set” at their country house in Buckinghamshire in the 1930s, is said to be suffering from dementia. A lawyer for Anthony Marshall, 82, a Tony Award-winning Broadway producer and former CIA officer, said that the financial report showed he had been a good steward of her fortune. Anthony Marshall asserts that in the quarter-century that he handled his mother’s investments, her liquid assets — excluding real estate and personal property — soared from $19 million to $80 million. Nevertheless, he agreed in October to return more than $11 million in art and jewellery to his mother to head off a court case aimed at trying to recover millions in cash, property and stocks that he is accused of taking improperly. Under the settlement, any claims against him will now be dealt with after Mrs Astor’s death by a court-appointed executor of her estate. http://www.timesonline.co.uk/tol/new...cle1577241.ece __________________ Anyone but the this most fuked up President in History in 2012!

03-28-2007, 10:50 AM	#2
Sheldonrs Master Dwellar Join Date: Oct 2006 Location: Los Angeles, CA Posts: 4,412	I remember seeing Brook Astor in New York a long time ago and thinking she looked so thin that she reminded me of a skeleton with skin on it. But she was always donating money to good causes and going to the Kentucky Derby every year and seemed to be having a good time then. It's sad to see her life ending this way. __________________ Laugh and the world laughs with you; cry and the world laughs AT you.

03-28-2007, 11:40 AM	#5
Shawnee123 Why, you're a regular Alfred E Einstein, ain't ya? Join Date: Jun 2006 Posts: 21,206	Wasn't very nice to the Donald's daughter. Poor kid is just trying to make a living. __________________ A word to the wise ain't necessary - it's the stupid ones who need the advice. --Bill Cosby

03-28-2007, 11:31 AM	#3
glatt ™ Join Date: Jul 2003 Location: Arlington, VA Posts: 27,717	Speaking of rich kids. My wife got unsolicited tickets in the mail yesterday to see Donald Trump's daughter give some presentation on how to make money. Was she wrong to throw them away?

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