Scott Galloway

Europe is now less dynastic on many levels than we are. And the thing that is so insane about this is that if you look at studies on the relationship between money and happiness, once you get above, call it $30 million in wealth, you have no incremental happiness. And what people don't understand about these trusts, they value it at $30 million based on the value when it goes into the trust.

Europe is now less dynastic on many levels than we are. And the thing that is so insane about this is that if you look at studies on the relationship between money and happiness, once you get above, call it $30 million in wealth, you have no incremental happiness. And what people don't understand about these trusts, they value it at $30 million based on the value when it goes into the trust.

Europe is now less dynastic on many levels than we are. And the thing that is so insane about this is that if you look at studies on the relationship between money and happiness, once you get above, call it $30 million in wealth, you have no incremental happiness. And what people don't understand about these trusts, they value it at $30 million based on the value when it goes into the trust.

If it grows to be worth $100 million over 20 or 30 years, which isn't unlikely, it all transfers tax-free. And here's the thing, and there's empirical and anecdotal evidence here. I know a lot of rich kids in New York. Trust me, folks, they're not any happier than wealthy kids.

If it grows to be worth $100 million over 20 or 30 years, which isn't unlikely, it all transfers tax-free. And here's the thing, and there's empirical and anecdotal evidence here. I know a lot of rich kids in New York. Trust me, folks, they're not any happier than wealthy kids.

If it grows to be worth $100 million over 20 or 30 years, which isn't unlikely, it all transfers tax-free. And here's the thing, and there's empirical and anecdotal evidence here. I know a lot of rich kids in New York. Trust me, folks, they're not any happier than wealthy kids.

So as someone who's worked really hard and has aggregated some economic security, one of the things I want as a reward for my good fortune and my hard work is I want to give my kids a better life than the average kid. Let me just come out of the closet. I want to give my kids enough money so they can have a house and know that they don't have to worry about education costs. All right.

So as someone who's worked really hard and has aggregated some economic security, one of the things I want as a reward for my good fortune and my hard work is I want to give my kids a better life than the average kid. Let me just come out of the closet. I want to give my kids enough money so they can have a house and know that they don't have to worry about education costs. All right.

So as someone who's worked really hard and has aggregated some economic security, one of the things I want as a reward for my good fortune and my hard work is I want to give my kids a better life than the average kid. Let me just come out of the closet. I want to give my kids enough money so they can have a house and know that they don't have to worry about education costs. All right.

You can easily do that. Easily do that. With $10 million, you don't need 30. You don't even need really 10 million to give your kid a head start because you think I've worked so fucking hard. I want to give my kids advantage. I think that is a natural instinct. All my friends who talk a big game about, well, I'm going to pay through their college and then they're on their own.

You can easily do that. Easily do that. With $10 million, you don't need 30. You don't even need really 10 million to give your kid a head start because you think I've worked so fucking hard. I want to give my kids advantage. I think that is a natural instinct. All my friends who talk a big game about, well, I'm going to pay through their college and then they're on their own.

You can easily do that. Easily do that. With $10 million, you don't need 30. You don't even need really 10 million to give your kid a head start because you think I've worked so fucking hard. I want to give my kids advantage. I think that is a natural instinct. All my friends who talk a big game about, well, I'm going to pay through their college and then they're on their own.

None of them do that. Their kid is a good kid. They can't pursue their dreams without help from mom and dad. Mom and dad want them to live near them. Inflation, they end up giving their kids money. Fine. I think that's one of the benefits in what we work so hard when we're parents is such that we can help our kids out.

None of them do that. Their kid is a good kid. They can't pursue their dreams without help from mom and dad. Mom and dad want them to live near them. Inflation, they end up giving their kids money. Fine. I think that's one of the benefits in what we work so hard when we're parents is such that we can help our kids out.

None of them do that. Their kid is a good kid. They can't pursue their dreams without help from mom and dad. Mom and dad want them to live near them. Inflation, they end up giving their kids money. Fine. I think that's one of the benefits in what we work so hard when we're parents is such that we can help our kids out.

But anything above, call it $5 or $10 million, not even that much, you think that gives your kid incremental happiness? It doesn't.

But anything above, call it $5 or $10 million, not even that much, you think that gives your kid incremental happiness? It doesn't.

But anything above, call it $5 or $10 million, not even that much, you think that gives your kid incremental happiness? It doesn't.

Yeah, I mean, there's different ways to cut the cat there. I mean, my guess is they're getting indirectly a lot of—Bill Gates's kid gets a leg up on a lot of levels economically. But anyways, my point is— let's call it a million bucks. You know, the kid's not going to go hungry. You know, the kid can afford education.

Yeah, I mean, there's different ways to cut the cat there. I mean, my guess is they're getting indirectly a lot of—Bill Gates's kid gets a leg up on a lot of levels economically. But anyways, my point is— let's call it a million bucks. You know, the kid's not going to go hungry. You know, the kid can afford education.