That’s about it. It’s a classic case of rich family’s son doesn’t realise how good they’ve had it and rather than putting in the graft, going to business school, learning the ropes, they are so over-confident with their own sense of self-worth they think they’ll be a success at anything.
Seen it all before. Money is largely gone in but a few generations, if that, unless there’s a concerted effort to be humble, put the work in, and the right people in the right positions.
Money is a blessing only in the hands of the wise.