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Real financial stories, breakdowns, and lessons from real life

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Prince died with a fortune his own estate valued at $82.3 million. His sister swore on camera that nobody in the family was fighting over it, while another sister swore in court that the bank controlling it was recklessly burning through every dollar.

In the video below, Tyka Nelson walks through Paisley Park and pushes back on the rumors herself.

She says when she walks into a room with her half siblings, she jokes, okay, what are we fighting about today. She says nobody’s throwing anything, that they eat together every week, and that people just want to believe the family is at war.

The paperwork told a different story. Her half sister Sharon Nelson swore in an affidavit that the bank running the estate was spending it recklessly and frivolously, and predicted it would be bankrupt by the end of the year. Another filing said the family had not received a dime from the estate, while lawyers and advisors were already walking away with millions. By 2018, the bank and its own attorneys had collected at least $5.9 million in fees, with another $2.9 million requested on top of that.

Prince died in 2016 with no will, no spouse and no children. The IRS said his accountants’ $82.3 million number was wrong by half, and accused the estate of hiding $81 million from the government. The fight over the real number did not end until January 2022, when the court set it at $156.4 million, almost double the original estimate.

With no payout coming and the case dragging on, several of the siblings eventually sold their shares outright to the music publisher Primary Wave instead of waiting for a verdict that kept slipping.

The case for Tyka is that the public squabbling never came from her, she spent her interviews defending the family’s peace. The case against the family as a whole is that smiling for the cameras did not stop them from suing the bank, filing against each other, and fighting over the number for six straight years.

Here’s the lesson. A family can look peaceful on camera and still be at war in the paperwork at the exact same time.

Was Tyka Nelson telling the truth about her family, or just protecting them on camera while the lawyers did the real fighting in court?

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@batagonx They laughed at his salary while he was building a career on a role the studio wanted to give DiCaprio for $20 million

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@RumiMirage An income gap doesnt destroy a marriage

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@Trenzur A promise without paper stays a promise

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@devb332 the label built to protect a child from the industry ended up holding the key to her legacy

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@FinRetv The man stole nearly $11M from 27 clients and says he's incapable of hurting his wife and son

[Creator @creator_xbt]

Prince died with a fortune his own estate valued at $82.3 million. His sister swore on camera that nobody in the family was fighting over it, while another sister swore in court that the bank controlling it was recklessly burning through every dollar.

In the video below, Tyka Nelson walks through Paisley Park and pushes back on the rumors herself.

She says when she walks into a room with her half siblings, she jokes, okay, what are we fighting about today. She says nobody’s throwing anything, that they eat together every week, and that people just want to believe the family is at war.

The paperwork told a different story. Her half sister Sharon Nelson swore in an affidavit that the bank running the estate was spending it recklessly and frivolously, and predicted it would be bankrupt by the end of the year. Another filing said the family had not received a dime from the estate, while lawyers and advisors were already walking away with millions. By 2018, the bank and its own attorneys had collected at least $5.9 million in fees, with another $2.9 million requested on top of that.

Prince died in 2016 with no will, no spouse and no children. The IRS said his accountants’ $82.3 million number was wrong by half, and accused the estate of hiding $81 million from the government. The fight over the real number did not end until January 2022, when the court set it at $156.4 million, almost double the original estimate.

With no payout coming and the case dragging on, several of the siblings eventually sold their shares outright to the music publisher Primary Wave instead of waiting for a verdict that kept slipping.

The case for Tyka is that the public squabbling never came from her, she spent her interviews defending the family’s peace. The case against the family as a whole is that smiling for the cameras did not stop them from suing the bank, filing against each other, and fighting over the number for six straight years.

Here’s the lesson. A family can look peaceful on camera and still be at war in the paperwork at the exact same time.

Was Tyka Nelson telling the truth about her family, or just protecting them on camera while the lawyers did the real fighting in court?

[Creator @creator_xbt]

@0x_Renjii A 21 years old with IRS depts doesnt have a week. He has ten minutes

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@veraxlab The juries weren't wrong eiter time

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@georgeyitb A "friend" discusses diluting your stake while you're in radiation

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@hdfogel the one person who actually had a claim to that footage never saw a dollar. Everyone circling it after she died did

[Creator @creator_xbt]

Elvis Presley’s own estate manager told his widow Graceland had to be sold. She refused, and built it into a $100,000,000 a year business herself.

Three years after the Presley family took over Graceland, it was losing money and nearly going out of business. Elvis’s bookkeeper and attorney were running it as executors, but neither had known Elvis personally or understood what he would have wanted.

One of them came to Priscilla Presley directly. They told her they were out of money and had no choice but to sell Elvis’s home.

In the video below, she describes what she said back to him.

“That will never happen,” she told him.

She had no experience running a historic estate. She says she simply rolled up her sleeves, went out, and started asking people she knew for help figuring out how to even open Graceland to the public.

What had been a house hemorrhaging money became a business bringing in 100 million dollars a year, built almost single handedly by a woman the executors clearly hadn’t expected to fight them.

The case for the executors is that they were professionals managing real debt, with no personal stake in Elvis’s legacy either way. The case for Priscilla is that the two men who actually knew the numbers were ready to sell Elvis Presley’s home, and the one person with no financial background was the only one who refused.

Here’s the lesson. The people with the clearest financial case for giving up are sometimes the ones who understand the least about what’s actually worth saving.

Should Priscilla have trusted the men who knew the business, or was defying them the only reason Elvis’s home still exists today?

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@georgeyitb Jim Beam said 20,000 cases max. They hit 3.3 million. Sometimes the "experts" telling you your ceiling are just describing their own imagination, not the market

[Creator @creator_xbt]

Elvis Presley’s own estate manager told his widow Graceland had to be sold. She refused, and built it into a $100,000,000 a year business herself.

Three years after the Presley family took over Graceland, it was losing money and nearly going out of business. Elvis’s bookkeeper and attorney were running it as executors, but neither had known Elvis personally or understood what he would have wanted.

One of them came to Priscilla Presley directly. They told her they were out of money and had no choice but to sell Elvis’s home.

In the video below, she describes what she said back to him.

“That will never happen,” she told him.

She had no experience running a historic estate. She says she simply rolled up her sleeves, went out, and started asking people she knew for help figuring out how to even open Graceland to the public.

What had been a house hemorrhaging money became a business bringing in 100 million dollars a year, built almost single handedly by a woman the executors clearly hadn’t expected to fight them.

The case for the executors is that they were professionals managing real debt, with no personal stake in Elvis’s legacy either way. The case for Priscilla is that the two men who actually knew the numbers were ready to sell Elvis Presley’s home, and the one person with no financial background was the only one who refused.

Here’s the lesson. The people with the clearest financial case for giving up are sometimes the ones who understand the least about what’s actually worth saving.

Should Priscilla have trusted the men who knew the business, or was defying them the only reason Elvis’s home still exists today?

[Creator @creator_xbt]

@hdfogel Being the richest man in China didn't put him above the people who actually hold power there

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Josh Brolin once turned down suitcases of cash, money he says he “couldn’t even imagine in my lifetime,” right after No Country for Old Men.

He still had no money himself. He was asking anyone for parts. Director Paul Haggis called him “a picky son of a bitch” for it, because even broke, Brolin kept turning down big commercial roles.

In the video below, he describes one offer in particular: a role alongside a genuinely good actor, paid in literal suitcases of cash.

He left that meeting and called his agent. “Absolutely no way,” he said.

His agent called the studio executive, Jeff Robinov, at that same moment. Brolin says Robinov walked away thinking he’d landed the role: “I think I got him.” He hadn’t.

The case for taking the money is that nobody yet knew if No Country would even work, and turning down guaranteed cash while broke looks reckless on paper. The case against taking it is that the same refusal is part of what built his career on his own terms.

Here’s the lesson. The moment you have the least money is exactly when a bad yes costs you the most.

Would you have taken the suitcase, or was staying broke and picky the only way his career turns out this way?

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@hdlucian The second one. After years of nothing landing, good news feels like a mistakes you're about to be told you made

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@hdfogel blood relation didnt stop it, it enabled it. Nobody was checking because "it's family"

[Fogel @hdfogel]

Vince Young made $34 million over six NFL seasons. By 2014, someone sued him over money he never took.

In the video below, Young explains what happened, in his own words.

“Somebody coming and trying to take your Rose Bowl rings, your trophies, your cars, your house. And you never took a dime from the person. The loan that I was supposed to get never came to none of my accounts. But you’re suing me. It was painful.”

Young made $34 million over six NFL seasons. By 2014, his debts outweighed his assets, and he filed for Chapter 11 bankruptcy.

Part of the mess traced back to a loan tied to his name, one he says he never saw a dollar of. He ended up fighting a lawsuit over money that never reached his accounts, while someone else allegedly used his name and signature to move it.

One of the people managing his finances during that period was his own uncle, his father’s brother.

Do the math. $34 million earned, a lawsuit over a loan he never received, and a family member in the middle of it.

A power of attorney isn’t a formality. It’s handing someone the legal right to sign your name to things you’ll never see coming.

Would you still trust family with your finances after hearing this?

[Creator @creator_xbt]

Wow