They may have yachts, fancy cars and private jets. But pity the super rich. They’re miserable.
A new book claims self-made millionaires have few friends, trust no-one with their money and generally feel isolated and largely unloved.
They even suffer pangs of guilt after making a fortune - not least because relatives and old friends can no longer afford to keep up with them.
The study - entitled “When you are super-rich who can you trust?” - claims one-in-three self made millionaires have lost a quarter of their money within five years of selling a business.
“Most have no idea how to manage their liquid wealth,” claimed the book’s author Caroline Garnham, a former head of a private client law practice at one of the City’s largest legal firms.
The book highlights the plight of Gary Barlow, the pop singer and song writer, whose reputation was left in tatters after it emerged he invested millions of pounds in a scheme later found to have broken the rules by a court.
The book says the fault was not Barlow’s but lay with his financial advisers, underlining the problem many newly rich people face in working out who to trust.
“Many of our new rich struggle in the first few years after they cash in on their business,” said Miss Garnham, “They are often plagued by feelings of guilt and disbelief, as well as feeling isolated, lonely and out of their depth.
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