Homeless Brothers Inherit €4.5 Billion Fortune

Seen something interesting in the news or on the intertubes? Discuss it here.

Moderators: Zamfir, Hawknc, Moderators General, Prelates

User avatar
Box Boy
WINNING
Posts: 1356
Joined: Thu Nov 20, 2008 9:33 pm UTC

Homeless Brothers Inherit €4.5 Billion Fortune

Postby Box Boy » Sat Dec 05, 2009 1:55 pm UTC

Source
Spoiler:
By Henry Samuel in Paris
Wednesday December 02 2009


Two penniless brothers who live in a cave outside Budapest are to inherit most of a reported €4.5bn after an astonishing twist in their family fortunes.

Zsolt and Geza Peladi have no fixed address and eke out an existence by selling junk they find in the street.
But their scavenging days are about to be over. The brothers have been informed they are entitled to their long-lost grandmother's fortune, along with a sister who lives in America.

Charity workers in Hungary broke the news to them after being contacted by lawyers handling the estate of their maternal grandmother, who died recently in Baden-Wurttemberg, Germany.

"We knew our mother came from a wealthy family but she was a difficult person and severed ties with them, and then later abandoned us and we lost touch with her and our father until she eventually died," Geza Peladi (43) told ATV television. Under German law, direct descendants are automatically entitled to a share of any estate. As the grandmother's daughter is dead, the money goes to her grandchildren.

Gyula Balazs Csaszar, a volunteer working for Budapest's Maltese Charity Service, said: "We were contacted by a lawyer asking us to find the brothers. He claimed he could help their lives with a large sum of money."

"If this all works out it will certainly make up for the life we have had until now -- all we really had was each other -- no women would look at us living in a cave," said Geza.

"But with money, maybe we can find a partner and finally have a normal life. It was only while they were carrying out genealogical research that lawyers found us." The grandmother's name has been kept secret to prevent fraudsters trying to cash in on the inheritance. (© Daily Telegraph, London)
Signatures are for chumps.

Technical Ben
Posts: 2986
Joined: Tue May 27, 2008 10:42 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Technical Ben » Sat Dec 05, 2009 2:35 pm UTC

Oh no, they kept the name secret. Now I do not know if I have a legitimate claim. :(
Perhaps a DNA test will help :D
It's all physics and stamp collecting.
It's not a particle or a wave. It's just an exchange.

Lewton
Posts: 121
Joined: Tue Apr 08, 2008 9:15 am UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Lewton » Sat Dec 05, 2009 2:37 pm UTC

Awesome story..
This stood out to me
"But with money, maybe we can ... finally have a normal life.


.. Yeeaa...no.

User avatar
Box Boy
WINNING
Posts: 1356
Joined: Thu Nov 20, 2008 9:33 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Box Boy » Sat Dec 05, 2009 2:43 pm UTC

Lewton wrote:
"But with money, maybe we can ... finally have a normal life.

.. Yeeaa...no.

Still you have to admit;

[imath]Extreme Wealth > Extreme Poverty[/imath]
Signatures are for chumps.

Duban
Posts: 352
Joined: Fri May 01, 2009 1:22 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Duban » Sat Dec 05, 2009 3:08 pm UTC

Box Boy wrote:
Lewton wrote:
"But with money, maybe we can ... finally have a normal life.

.. Yeeaa...no.

Still you have to admit;

[imath]Extreme Wealth > Extreme Poverty[/imath]


I can find no fault with that reasoning.
It is not the gods I fear. No, It is those who claim to speak for them that concern me.

Lewton
Posts: 121
Joined: Tue Apr 08, 2008 9:15 am UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Lewton » Sat Dec 05, 2009 3:53 pm UTC

Box Boy wrote:Still you have to admit;

[imath]Extreme Wealth > Extreme Poverty[/imath]


Agreed!... But extreme wealth is much much further from normal than extreme poverty

User avatar
Diadem
Posts: 5654
Joined: Wed Jun 11, 2008 11:03 am UTC
Location: The Netherlands

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Diadem » Sat Dec 05, 2009 4:53 pm UTC

Indeed, at 4.5 billion dollars their life will be far from normal.

Nor will it be easy. You can be sure they'll be swarmed by all kinds of parasites who want a bit of the fortune. I hope for their sake they manage to find some good, honest, people to manage their wealth.

For the rest how they will manage will really depend on their personalities and their intelligence. Sudden wealth can have disastrous effects on someone's mental health. But it does not have to have that.
It's one of those irregular verbs, isn't it? I have an independent mind, you are an eccentric, he is round the twist
- Bernard Woolley in Yes, Prime Minister

User avatar
SabreKGB
Posts: 211
Joined: Mon Oct 22, 2007 4:29 am UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby SabreKGB » Sat Dec 05, 2009 5:30 pm UTC

Diadem wrote:Indeed, at 4.5 billion dollars their life will be far from normal.

Nor will it be easy. You can be sure they'll be swarmed by all kinds of parasites who want a bit of the fortune. I hope for their sake they manage to find some good, honest, people to manage their wealth.

For the rest how they will manage will really depend on their personalities and their intelligence. Sudden wealth can have disastrous effects on someone's mental health. But it does not have to have that.



Kind soul that i am, i will bravely volunteer to take on the sort of "problems" that come with 4.5 billion euros.

If they can't handle it...so what? I'd be rather surprised if they weren't broke within a relatively short timeframe. They were, after all, living in a cave. That doesn't speak well for their life/financial management/work skills. I think we all remember the old saying about a fool and his money, right?

kiklion
Posts: 513
Joined: Fri Mar 14, 2008 5:02 am UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby kiklion » Sat Dec 05, 2009 7:49 pm UTC

SabreKGB wrote:
Diadem wrote:Indeed, at 4.5 billion dollars their life will be far from normal.

Nor will it be easy. You can be sure they'll be swarmed by all kinds of parasites who want a bit of the fortune. I hope for their sake they manage to find some good, honest, people to manage their wealth.

For the rest how they will manage will really depend on their personalities and their intelligence. Sudden wealth can have disastrous effects on someone's mental health. But it does not have to have that.



Kind soul that i am, i will bravely volunteer to take on the sort of "problems" that come with 4.5 billion euros.

If they can't handle it...so what? I'd be rather surprised if they weren't broke within a relatively short timeframe. They were, after all, living in a cave. That doesn't speak well for their life/financial management/work skills. I think we all remember the old saying about a fool and his money, right?


I am reminded of a movie of a broke man who was to inherit a large sum of money from someone, but he had to first spend something like a million dollars in a week, with after the week having absolutely no property. It was an older movie so the scaling may be off, but I do believe it may be harder then you think to truly lose the 4.5 billion. Even if they squandered it all on um... houses made of gold, if they are left with a million (1/450,000 of what they started with ignoring taxes) they will still be wealthy enough to never work again.

User avatar
Box Boy
WINNING
Posts: 1356
Joined: Thu Nov 20, 2008 9:33 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Box Boy » Sat Dec 05, 2009 7:55 pm UTC

I would totally shoot a fleet of solid Royels Royces (packed with thermite) with a chaingun while recording the view from inside and outside of each car with the type of camera that costs more than a house.
Or wear a new pair of socks everyday until I die.
Signatures are for chumps.

User avatar
Darkscull
Posts: 798
Joined: Wed Jan 23, 2008 10:46 am UTC
Location: Now where I want to be

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Darkscull » Sat Dec 05, 2009 7:58 pm UTC

Article wrote:The brothers have been informed they are entitled to their long-lost grandmother's fortune, along with a sister who lives in America.


Wouldn't that count as slavery though? Weird will she had there :P

kiklion wrote:I am reminded of a movie of a broke man who was to inherit a large sum of money from someone, but he had to first spend something like a million dollars in a week, with after the week having absolutely no property. It was an older movie so the scaling may be off, but I do believe it may be harder then you think to truly lose the 4.5 billion. Even if they squandered it all on um... houses made of gold, if they are left with a million (1/450,000 of what they started with ignoring taxes) they will still be wealthy enough to never work again.


Brewster's millions. Richard Pryor had to spend $30m in 30 days.

edit: Actually, there have been loads of versions of that, not all with the same figures. Google only showed me the imdb entry for the 1985 one.
http://www.imdb.com/find?s=all&q=brewsters+millions
Physicists do it in an excited state.
m/bi/UK/Ⓐ/chaotic good
b. 1988 d. 20xx

kiklion
Posts: 513
Joined: Fri Mar 14, 2008 5:02 am UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby kiklion » Sat Dec 05, 2009 8:07 pm UTC

Darkscull wrote:
Article wrote:The brothers have been informed they are entitled to their long-lost grandmother's fortune, along with a sister who lives in America.


Wouldn't that count as slavery though? Weird will she had there :P




Took me a bit to understand that... "Ok uhh you get the girl and I get the 4.5 billion?" "No way man, She's AMERICAN, how about you get the girl AND 3 billion dollars, and I get 1.5"

User avatar
Diadem
Posts: 5654
Joined: Wed Jun 11, 2008 11:03 am UTC
Location: The Netherlands

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Diadem » Sat Dec 05, 2009 8:16 pm UTC

Well 4.5 billion is not that much, is it? I mean, if you buy a new house every day you'll run out of money in under 25 years.
It's one of those irregular verbs, isn't it? I have an independent mind, you are an eccentric, he is round the twist
- Bernard Woolley in Yes, Prime Minister

User avatar
Darkscull
Posts: 798
Joined: Wed Jan 23, 2008 10:46 am UTC
Location: Now where I want to be

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Darkscull » Sat Dec 05, 2009 9:31 pm UTC

Diadem wrote:Well 4.5 billion is not that much, is it? I mean, if you buy a new house every day you'll run out of money in under 25 years.


Well, with the economy being what it is, you can expect that time to vary as wildly as the windows file transfer horoscope.
Physicists do it in an excited state.
m/bi/UK/Ⓐ/chaotic good
b. 1988 d. 20xx

User avatar
PhoenixEnigma
Posts: 2303
Joined: Fri Sep 18, 2009 3:11 am UTC
Location: Sasquatchawan, Canada
Contact:

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby PhoenixEnigma » Sat Dec 05, 2009 11:04 pm UTC

Diadem wrote:Well 4.5 billion is not that much, is it? I mean, if you buy a new house every day you'll run out of money in under 25 years.


Depends on the houses. By my math, if you have €4.5bil, you can buy a USD$300 000* house every day for over 60 years. Which leaves you owning enough housing for a city of close to 60000. Of course, that doesn't account for inflation, changes in the housing market, nor any returns from investing that money or taxes from your private city.

*Roughly average sale price of a new home in the USA [citation]
"Optimism, pessimism, fuck that; we're going to make it happen. As God is my bloody witness, I'm hell-bent on making it work." -Elon Musk
Shivahn wrote:I am a motherfucking sorceror.

Technical Ben
Posts: 2986
Joined: Tue May 27, 2008 10:42 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Technical Ben » Sat Dec 05, 2009 11:29 pm UTC

PhoenixEnigma wrote:
Diadem wrote:Well 4.5 billion is not that much, is it? I mean, if you buy a new house every day you'll run out of money in under 25 years.


Depends on the houses. By my math, if you have €4.5bil, you can buy a USD$300 000* house every day for over 60 years. Which leaves you owning enough housing for a city of close to 60000. Of course, that doesn't account for inflation, changes in the housing market, nor any returns from investing that money or taxes from your private city.

*Roughly average sale price of a new home in the USA [citation]


I guess there must be some interference on the sarcasm radar screens tonight. ;)
It's all physics and stamp collecting.
It's not a particle or a wave. It's just an exchange.

User avatar
wst
Posts: 2613
Joined: Sat Nov 24, 2007 10:06 am UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby wst » Sun Dec 06, 2009 12:08 am UTC

The brothers have been informed they are entitled to their long-lost grandmother's fortune, along with a sister who lives in America.
Stinks of a 419 :p
Anything I said pre-2014 that you want to quote me on, just run it past me to check I still agree with myself.

User avatar
PhoenixEnigma
Posts: 2303
Joined: Fri Sep 18, 2009 3:11 am UTC
Location: Sasquatchawan, Canada
Contact:

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby PhoenixEnigma » Sun Dec 06, 2009 12:36 am UTC

Technical Ben wrote:
PhoenixEnigma wrote:
Diadem wrote:Well 4.5 billion is not that much, is it? I mean, if you buy a new house every day you'll run out of money in under 25 years.


Depends on the houses. By my math, if you have €4.5bil, you can buy a USD$300 000* house every day for over 60 years. Which leaves you owning enough housing for a city of close to 60000. Of course, that doesn't account for inflation, changes in the housing market, nor any returns from investing that money or taxes from your private city.

*Roughly average sale price of a new home in the USA [citation]


I guess there must be some interference on the sarcasm radar screens tonight. ;)


Hardly. Some of us just have too much time on our hands.
"Optimism, pessimism, fuck that; we're going to make it happen. As God is my bloody witness, I'm hell-bent on making it work." -Elon Musk
Shivahn wrote:I am a motherfucking sorceror.

User avatar
Pansori
Posts: 56
Joined: Fri May 15, 2009 10:33 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Pansori » Sun Dec 06, 2009 1:42 am UTC

I hope they handle it well. I've heard enough lottery stories about people unable to cope with a sudden amount of large money to be skeptical about how well these guys will deal with it.

User avatar
Arancaytar
Posts: 1642
Joined: Thu Mar 15, 2007 12:54 am UTC
Location: 52.44°N, 13.55°E
Contact:

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Arancaytar » Sun Dec 06, 2009 1:42 am UTC

wst wrote:
The brothers have been informed they are entitled to their long-lost grandmother's fortune, along with a sister who lives in America.
Stinks of a 419 :p


Who knows... maybe your opportunity for five billion dollars came up this morning, but you heedlessly shoveled it into your junk folder.
"You cannot dual-wield the sharks. One is enough." -Our DM.
Image

G.v.K
Posts: 410
Joined: Tue Aug 26, 2008 11:09 pm UTC
Location: Melbourne, Australia

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby G.v.K » Sun Dec 06, 2009 2:00 am UTC

SabreKGB wrote:That doesn't speak well for their life/financial management/work skills. I think we all remember the old saying about a fool and his money, right?


maybe. but the more mysterious part is that if you lose someone else's money, people still assume that your life/financial management/work skills are high. no matter how many GFCs or Dubais there are, that assumption seems never to be permanently shaken.

User avatar
Omegaton
Posts: 700
Joined: Sun Apr 19, 2009 6:23 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Omegaton » Sun Dec 06, 2009 3:01 am UTC

Talk about a rags to riches story...

User avatar
Josephine
Posts: 2142
Joined: Wed Apr 08, 2009 5:53 am UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Josephine » Sun Dec 06, 2009 3:37 am UTC

the difference between this and a 419 is that they were told about it in person, and it demanded nothing from them in return.
Belial wrote:Listen, what I'm saying is that he committed a felony with a zoo animal.

User avatar
Diadem
Posts: 5654
Joined: Wed Jun 11, 2008 11:03 am UTC
Location: The Netherlands

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Diadem » Sun Dec 06, 2009 3:46 am UTC

PhoenixEnigma wrote:
Diadem wrote:Well 4.5 billion is not that much, is it? I mean, if you buy a new house every day you'll run out of money in under 25 years.


Depends on the houses. By my math, if you have €4.5bil, you can buy a USD$300 000* house every day for over 60 years. Which leaves you owning enough housing for a city of close to 60000. Of course, that doesn't account for inflation, changes in the housing market, nor any returns from investing that money or taxes from your private city.

I was assuming half a million euros per home. I mean they are billionaires, gotta live in style :)

And US houses are cheap. Here in The Netherlands USD 300,000 will buy you a studio at most.
It's one of those irregular verbs, isn't it? I have an independent mind, you are an eccentric, he is round the twist
- Bernard Woolley in Yes, Prime Minister

User avatar
Roĝer
Posts: 445
Joined: Sun Oct 05, 2008 9:36 pm UTC
Location: Many worlds, but mostly Copenhagen.
Contact:

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Roĝer » Sun Dec 06, 2009 3:51 pm UTC

SabreKGB wrote:... that come with 4.5 billion euros.


I am sorry to disappoint you, but with current exchange rate 4.5 10⁹ dollars is only a meagre 3 10⁹ euros in real money. Not really much you could do with that.
Ik ben niet koppig, ik heb gewoon gelijk.

Sharlos
Posts: 720
Joined: Fri Dec 26, 2008 9:26 am UTC
Location: Straya

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Sharlos » Sun Dec 06, 2009 4:12 pm UTC

Roĝer wrote:
SabreKGB wrote:... that come with 4.5 billion euros.


I am sorry to disappoint you, but with current exchange rate 4.5 10⁹ dollars is only a meagre 3 10⁹ euros in real money. Not really much you could do with that.

Except the article says they inherited 4.5 billion euros.

Jeroen B
Posts: 21
Joined: Tue Dec 02, 2008 9:43 am UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Jeroen B » Mon Dec 07, 2009 7:55 am UTC

Sharlos wrote:
Roĝer wrote:
SabreKGB wrote:... that come with 4.5 billion euros.


I am sorry to disappoint you, but with current exchange rate 4.5 10⁹ dollars is only a meagre 3 10⁹ euros in real money. Not really much you could do with that.

Except the article says they inherited 4.5 billion euros.

But they do have to share it with the American woman, if they'd each get a third, the two brothers would have roughly 4.5 billion dollars

User avatar
Ixtellor
There are like 4 posters on XKCD that no more about ...
Posts: 3113
Joined: Sun Jan 13, 2008 3:31 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Ixtellor » Tue Dec 08, 2009 2:47 pm UTC

SabreKGB wrote:I'd be rather surprised if they weren't broke within a relatively short timeframe


I think your underestimating how much 4.5 billion is.

I don't think they could squander it if they tried. 4.5 million or 40 million, and possible 400 million you might be able to squander, but 4.5 billion... its too much money.
If they only put 1 billion in a low interest baring savings account, and spent 3.5 billion on non-assets (probably impossible short of all to charity), they interest alone would be in the millions per year.


Ixtellor
The Revolution will not be Twitterized.

User avatar
Crius
Posts: 392
Joined: Thu Feb 12, 2009 7:27 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Crius » Tue Dec 08, 2009 3:13 pm UTC

It's likely that they will end up with less than a billion individually, though. $4.5 billion divided three ways will be $1.5 billion, with the government taking half that would leave $750 million.

That amount is technically squanderable - the most likely scenario would be to build a few mansions that amount to over a hundred million each, then fall behind on property taxes.

User avatar
Ixtellor
There are like 4 posters on XKCD that no more about ...
Posts: 3113
Joined: Sun Jan 13, 2008 3:31 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Ixtellor » Tue Dec 08, 2009 5:18 pm UTC

Crius wrote:It's likely that they will end up with less than a billion individually, though. $4.5 billion divided three ways will be $1.5 billion, with the government taking half that would leave $750 million.

That amount is technically squanderable - the most likely scenario would be to build a few mansions that amount to over a hundred million each, then fall behind on property taxes.


But they would still have equity in the homes. Even at criminal rates, selling several hundred million dollar homes is going to net you something.

Aside from falling for some kind of investment con - "Give me $750 million and I am going to build Taco Bells all across Afghanistan", it would be nay impossible to not accumulate millions in assests. They could spend every penny, but they still acquire assets in the process.
The Revolution will not be Twitterized.

User avatar
Crius
Posts: 392
Joined: Thu Feb 12, 2009 7:27 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby Crius » Tue Dec 08, 2009 9:38 pm UTC

Ubermansions aren't a particularly liquid asset. If the government set a deadline before repossessing, it's possible that the mansion couldn't be sold, or sold for anywhere near the price to build it.

I'm not saying it's particularly likely, though. I think he'd probably have to spend a good chunk of the inheritance, and spend somewhere around a decade letting backtaxes and penalties build up.

User avatar
snowolf
Posts: 32
Joined: Wed Dec 09, 2009 6:14 pm UTC

Re: Homeless Brothers Inherit €4.5 Billion Fortune

Postby snowolf » Thu Dec 10, 2009 5:25 pm UTC

Ah hah! Because of this story you must no longer diss me when I tell you: my life dream is aspiring to become a hobo.
maybe if this is witty enough, someone will finally love me


Return to “News & Articles”

Who is online

Users browsing this forum: No registered users and 11 guests