Clive Palmer buys daughter a $5.3 million yacht for her birthday

[Solly]

Big Clive's copping a bit of flak over this.

What do you think ?

http://www.news.com.au/couriermail/story/0,23739,26105176-952,00.html

 

[Mr J]

Re: Clive Palmer buys daughter a $5.3 million yacht for her birthday.

It probably won't do her any favours in terms of financial skills, and I'd never do anything like that if in a similar position, but I'm sure she will like it.

 

[Stormin_Norman]

Re: Clive Palmer buys daughter a $5.3 million yacht for her birthday.

i hate gold coast united. nothing more then a rich man's dildo.

 

[ojm]

Re: Clive Palmer buys daughter a $5.3 million yacht for her birthday.

i hate gold coast united. nothing more then a rich man's dildo.

Hope Melbourne beat them on Saturday. So much for them not losing this year - getting done 3-0 on the weekend.

Cocky rich gits.

 

[white_goodman]

im gonna take his daughter out to a nice seafood dinner and NEVER call her again

 

[nulla nulla]

Didn't he have a fainting attack at a restaurant recently. Maybe he heard she had scratched the boat?

 

[Mr J]

im gonna take his daughter out to a nice seafood dinner and NEVER call her again

Good thing you'll leave her at the table, because she's only 15 .

 

[Julia]

Didn't he have a fainting attack at a restaurant recently. Maybe he heard she had scratched the boat?

He was 'rushed to hospital' with chest pain yesterday.
If he lost that gut that hangs over his trousers, he might be less bothered by potential cardiovascular accidents.

 

[kgee]

Talk about tall poppy syndrome ....give him a break...at least he's dropped the dubious honor of Professor b4 his name ...

 

[gav]

He was 'rushed to hospital' with chest pain yesterday.
If he lost that gut that hangs over his trousers, he might be less bothered by potential cardiovascular accidents.

His double (or should I say triple?) chin is massive! He reminds me of Peter from Family Guy.

Being a billionaire won't mean much when he dies prematurely...

 

[jono1887]

Talk about tall poppy syndrome ....give him a break...at least he's dropped the dubious honor of Professor b4 his name ...

I don't think he's being attacked for being successful, its just his poor parenting decisions that are being criticised here.. I really don't think giving a 15y/o a $5M boat is really teaching them much about money.

 

[prawn_86]

I really don't think giving a 15y/o a $5M boat is really teaching them much about money.

If you look at the %'s its fine. A lot of middle class families help their kids buy cars or their first house. Lets say a car at $5k, middle class family worth $1m all up, this is .5%.

Big Clive forking out $5m is only .001% of $5bill

 

[Mr J]

Sure Prawn, but that percentage is rarely large enough where we could sell the boat, car, property etc and then retire...at 15 .

 

[prawn_86]

Sure Prawn, but that percentage is rarely large enough where we could sell the boat, car, property etc and then retire...at 15 .

Yeh but he has worked for his money, if he cant spend it on his family what should he spend it on? The way its going he will be dead soon, so he better keep on spending

 

[trainspotter]

He can adopt me ...... no argument here.

 

[Mr J]

Yeh but he has worked for his money, if he cant spend it on his family what should he spend it on? The way its going he will be dead soon, so he better keep on spending

No argument here. I'm just pointing out that this kind of gift is going to rub a lot of people the wrong way. The fact is that unless daddy loses his fortune, the girl will probably never need to be responsible with money.

 

[nunthewiser]

hasnt he got 5 daughters ?

 

[prawn_86]

The fact is that unless daddy loses his fortune, the girl will probably never need to be responsible with money.

Yep, and arnt we all jealous :

 

[trainspotter]

Anyone consider it might be a way of offloading assets? I am not sure but is there any regulations about this size of boat being purchased as a gift from a maritime point of view? A tax point of view? A bankruptcy etc ad infinitum?

Sort of like when I buy my wife a chainsaw for Mothers Day. It is really a gift for me but she owns it to threaten me with.

 

[Mr J]

Yep, and arnt we all jealous :

Who wouldn't want an extra 5 million? A boat like that at her age, her friends are in for a good 10-15 years.

Trainspotter, interesting you brought that up. I did wonder whether there might be any other reasons for doing this. A $5 million boat is quite large, and a $300k speedboat is usually the go around Sydney Harbour, especially for a kid.