Charles Tiffany was so brilliant at marketing luxury to the newly minted millionaires of the gilded age that he left $12 million to his four children when he died in 1902. Not trusting his younger son Burnett to manage his money wisely, he created a $1.5 million trust for him overseen by his older son Louis. Indeed, Burney went bankrupt less than two years later... but only because Louis refused to pay off a $25,000 debt for furniture Burney had bought for his new wife.
Charles Tiffany was so brilliant at marketing luxury to the newly minted millionaires of the gilded age that he left $12 million to his four children when he died in 1902. Not trusting his younger son Burnett to manage his money wisely, he created a $1.5 million trust for him overseen by his older son Louis. Indeed, Burney went bankrupt less than two years later... but only because Louis refused to pay off a $25,000 debt for furniture Burney had bought for his new wife.