I’ve observed that truly affluent families are blasé about where their kids go to college

[Anonymous]

Anonymous wrote:They don't need it. Intergenerational wealth is their cushion and they already have social status so they aren't striving for anything.

Some of the most intense parents I've encountered that are focused on "winning" at achievement culture at all costs including their kids' mental health are first-generation successes who have money through high salaries only not passed down wealth (eg, lawyers) who are desperately trying to protect and safeguard their kids to maintain the same newly achieved "status".

So true….
Former biglaw partner here (who retired bc of spouses tech ipo windfall)

[Anonymous]

Anonymous wrote:new to post to this thread, but IDK about the NYC types. I think that's me and I think we're the types who may be turning on prestige.

the super rich can buy their way in, it's a luxury product and why not.

then there are people like me who are rich enough, but self made. At 50, we have a net worth of 4mm and have just reached peak earning years. We could double that in the next 15 years.

but some of that is tied up in housing, retirement, etc. it's not all liquid. our kids go to test-in publics so our nut is not enormous but we travel, kids have activities, etc.

and we wonder .. 3 kids at 400-500k each for college? does that make sense? my DH and I got rich slowly - working, investing, we each had bought an apartment in NYC before we got together. I don't see a way my kids could buy an apartment on their own in their 20s they way DH and I did.

And what if they want to be a teacher? or a journalist? or own a shop? That hardly seems possible in their home town of nyc without a lot of help.

So .. why spend this all in 4 years. We value education, but why not go for that merit aid at Grinnell or the like?

Also, we just don't have the ego to care.

m

You aren’t rich….

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Lmao. How DCUM / east coast urban area.

Throw in the “southeast” with McDonald’s.

You think someone got rich working “in” the oil fields.

I always knew there were stupid people on DCUM…you think it was literally working as a field hand in the oil fields vs maybe a rich oil prospector (that make it clearer?).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Lmao. How DCUM / east coast urban area.

Throw in the “southeast” with McDonald’s.


We don't own a burger franchise and we don't have a building named after our family. We reduced oil pumping production in the last two days from 10,000 to 7,000 today because WTI prices dropped by nearly 1.6 percent. You also have to understand that in Texas, just owning land is not a thing. You must also own the mineral rights to the property. You can own the land but if you don't have mineral rights all the profits from drilling goes to the original landholder.

To the OP, I'm not sure what you are after here. I don't care where my kids attend college. I just want them to graduate college with degrees in hand. In my humble opinion, once you have your degree it is up to you to work hard and prove yourself. Nothing should be given to you.

[Anonymous]

We don't own a burger franchise and we don't have a building named after our family. We reduced oil pumping production in the last two days from 10,000 to 7,000 today because WTI prices dropped by nearly 1.6 percent. You also have to understand that in Texas, just owning land is not a thing. You must also own the mineral rights to the property. You can own the land but if you don't have mineral rights all the profits from drilling goes to the original landholder.

To the OP, I'm not sure what you are after here. I don't care where my kids attend college. I just want them to graduate college with degrees in hand. In my humble opinion, once you have your degree it is up to you to work hard and prove yourself. Nothing should be given to you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Gas & Oil tends to be highly educated due to the international nature and regulatory environment.

+10000. Only someone from DC would equate oil and gas with McDonald’s franchisees.

No, only someone from DCUM would think being the Head Counsel or CEO of Exxon is how people make the real money in oil and gas.

Read up on the wildcat billionaire and company founders before you post inane comments.

There are a lot of layers between CEO and people working in oil fields, and the point remains that oil and gas is a field that requires quite a bit of sophistication- an army of engineers of all stripes, business and finance people, etc. It's a bit bizarre to call oil and gas "blue collar wealth" when it was essentially the tech industry of the early to mid 1900s. It's not like being a burger franchisee. And the more you double down on this point, the less educated you sound.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Gas & Oil tends to be highly educated due to the international nature and regulatory environment.

+10000. Only someone from DC would equate oil and gas with McDonald’s franchisees.

No, only someone from DCUM would think being the Head Counsel or CEO of Exxon is how people make the real money in oil and gas.

Read up on the wildcat billionaire and company founders before you post inane comments.

There are a lot of layers between CEO and people working in oil fields, and the point remains that oil and gas is a field that requires quite a bit of sophistication- an army of engineers of all stripes, business and finance people, etc. It's a bit bizarre to call oil and gas "blue collar wealth" when it was essentially the tech industry of the early to mid 1900s. It's not like being a burger franchisee. And the more you double down on this point, the less educated you sound.

The richest person (by far) in oil and gas is Harold Hamm who dropped out of HS at 16 and basically created shale drilling.

Perhaps he is the only one and the rest are PhDs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Gas & Oil tends to be highly educated due to the international nature and regulatory environment.

+10000. Only someone from DC would equate oil and gas with McDonald’s franchisees.

No, only someone from DCUM would think being the Head Counsel or CEO of Exxon is how people make the real money in oil and gas.

Read up on the wildcat billionaire and company founders before you post inane comments.

There are a lot of layers between CEO and people working in oil fields, and the point remains that oil and gas is a field that requires quite a bit of sophistication- an army of engineers of all stripes, business and finance people, etc. It's a bit bizarre to call oil and gas "blue collar wealth" when it was essentially the tech industry of the early to mid 1900s. It's not like being a burger franchisee. And the more you double down on this point, the less educated you sound.

The richest person (by far) in oil and gas is Harold Hamm who dropped out of HS at 16 and basically created shale drilling.

Perhaps he is the only one and the rest are PhDs.

What about Rockefeller???

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Gas & Oil tends to be highly educated due to the international nature and regulatory environment.

+10000. Only someone from DC would equate oil and gas with McDonald’s franchisees.

No, only someone from DCUM would think being the Head Counsel or CEO of Exxon is how people make the real money in oil and gas.

Read up on the wildcat billionaire and company founders before you post inane comments.

There are a lot of layers between CEO and people working in oil fields, and the point remains that oil and gas is a field that requires quite a bit of sophistication- an army of engineers of all stripes, business and finance people, etc. It's a bit bizarre to call oil and gas "blue collar wealth" when it was essentially the tech industry of the early to mid 1900s. It's not like being a burger franchisee. And the more you double down on this point, the less educated you sound.

The richest person (by far) in oil and gas is Harold Hamm who dropped out of HS at 16 and basically created shale drilling.

Perhaps he is the only one and the rest are PhDs.

What about Rockefeller???

You got me…richest living person.

BTW, he wasn’t the Mark Zuckerberg of oil and gas, he dropped out to work at a gas station to help his family and the rest they say is history.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Gas & Oil tends to be highly educated due to the international nature and regulatory environment.

+10000. Only someone from DC would equate oil and gas with McDonald’s franchisees.

No, only someone from DCUM would think being the Head Counsel or CEO of Exxon is how people make the real money in oil and gas.

Read up on the wildcat billionaire and company founders before you post inane comments.

There are a lot of layers between CEO and people working in oil fields, and the point remains that oil and gas is a field that requires quite a bit of sophistication- an army of engineers of all stripes, business and finance people, etc. It's a bit bizarre to call oil and gas "blue collar wealth" when it was essentially the tech industry of the early to mid 1900s. It's not like being a burger franchisee. And the more you double down on this point, the less educated you sound.

The richest person (by far) in oil and gas is Harold Hamm who dropped out of HS at 16 and basically created shale drilling.

Perhaps he is the only one and the rest are PhDs.

What about Rockefeller???

You got me…richest living person.

BTW, he wasn’t the Mark Zuckerberg of oil and gas, he dropped out to work at a gas station to help his family and the rest they say is history.

I though he started out as a bookkeeper??

[Anonymous]

Here is a quick overview of the different types of players in O&G:

Wildcatters with varied backgrounds like Harold Hamm. They are a dying breed because the fields have all be found for the most part.

Educated CEOs and C-levels brought on or promoted to lead companies (large and small, public and private, downstream, upstream, midstream, etc. )

Individual land and mineral rights owners who have had the assets in their families for generations or who have purchased them in a fire sale when oil prices were very low. Yet to sell them to companies. Educational backgrounds also varied.

The net worth of all the above range from the billions to seven figures and they are numerous all over Texas, OK, LA, NM.

None of the above includes the industry specific workers like landmen, oilfield, geologists etc., or the normal corporate types. They all can make bank too but it is very cyclical and dependent on geopolitics.

Many executives and their families moved from the east coast in the 50s and 60s to strike it rich in the oil fields, including WASPs like George HW Bush.

[Anonymous]

Anonymous wrote:Here is a quick overview of the different types of players in O&G:

Wildcatters with varied backgrounds like Harold Hamm. They are a dying breed because the fields have all be found for the most part.

Educated CEOs and C-levels brought on or promoted to lead companies (large and small, public and private, downstream, upstream, midstream, etc. )

Individual land and mineral rights owners who have had the assets in their families for generations or who have purchased them in a fire sale when oil prices were very low. Yet to sell them to companies. Educational backgrounds also varied.

The net worth of all the above range from the billions to seven figures and they are numerous all over Texas, OK, LA, NM.

None of the above includes the industry specific workers like landmen, oilfield, geologists etc., or the normal corporate types. They all can make bank too but it is very cyclical and dependent on geopolitics.

Many executives and their families moved from the east coast in the 50s and 60s to strike it rich in the oil fields, including WASPs like George HW Bush.

What’s the obsession with this topic???? Please start your own thread rather than derailing this one.

- A Texan whose o&g royalties fund our lifestyle, including private school tuition. I don’t really give a fig where my kids go to college, as long as they’re happy and most of my wealthy friends don’t either.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Here is a quick overview of the different types of players in O&G:

Wildcatters with varied backgrounds like Harold Hamm. They are a dying breed because the fields have all be found for the most part.

Educated CEOs and C-levels brought on or promoted to lead companies (large and small, public and private, downstream, upstream, midstream, etc. )

Individual land and mineral rights owners who have had the assets in their families for generations or who have purchased them in a fire sale when oil prices were very low. Yet to sell them to companies. Educational backgrounds also varied.

The net worth of all the above range from the billions to seven figures and they are numerous all over Texas, OK, LA, NM.

None of the above includes the industry specific workers like landmen, oilfield, geologists etc., or the normal corporate types. They all can make bank too but it is very cyclical and dependent on geopolitics.

Many executives and their families moved from the east coast in the 50s and 60s to strike it rich in the oil fields, including WASPs like George HW Bush.

What’s the obsession with this topic???? Please start your own thread rather than derailing this one.

- A Texan whose o&g royalties fund our lifestyle, including private school tuition. I don’t really give a fig where my kids go to college, as long as they’re happy and most of my wealthy friends don’t either.

Why is a Texan hanging out on DCUM?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Here is a quick overview of the different types of players in O&G:

Wildcatters with varied backgrounds like Harold Hamm. They are a dying breed because the fields have all be found for the most part.

Educated CEOs and C-levels brought on or promoted to lead companies (large and small, public and private, downstream, upstream, midstream, etc. )

Individual land and mineral rights owners who have had the assets in their families for generations or who have purchased them in a fire sale when oil prices were very low. Yet to sell them to companies. Educational backgrounds also varied.

The net worth of all the above range from the billions to seven figures and they are numerous all over Texas, OK, LA, NM.

None of the above includes the industry specific workers like landmen, oilfield, geologists etc., or the normal corporate types. They all can make bank too but it is very cyclical and dependent on geopolitics.

Many executives and their families moved from the east coast in the 50s and 60s to strike it rich in the oil fields, including WASPs like George HW Bush.

What’s the obsession with this topic???? Please start your own thread rather than derailing this one.

- A Texan whose o&g royalties fund our lifestyle, including private school tuition. I don’t really give a fig where my kids go to college, as long as they’re happy and most of my wealthy friends don’t either.

Omg is your family part of the Cobell Energy dynasty?! https://cobellenergy.com

[Anonymous]

Anonymous wrote:We don't own a burger franchise and we don't have a building named after our family. We reduced oil pumping production in the last two days from 10,000 to 7,000 today because WTI prices dropped by nearly 1.6 percent. You also have to understand that in Texas, just owning land is not a thing. You must also own the mineral rights to the property. You can own the land but if you don't have mineral rights all the profits from drilling goes to the original landholder.

To the OP, I'm not sure what you are after here. I don't care where my kids attend college. I just want them to graduate college with degrees in hand. In my humble opinion, once you have your degree it is up to you to work hard and prove yourself. Nothing should be given to you.

NP. Totally respect your achievements and your opinion, but you do sound more than a little like Jock Ewing schooling Bobby on an episode of Dallas.