Lion of the Blogosphere

Secret multi-billionaire no longer

A new multi-billionaire was recently discovered: Lukas Walton, the 29-year-old son of John T. Walton. Until now, it was thought that Christy Walton inherited all of John T. Walton’s money, but actually the old man split the money three ways between Christy, Lukas, and charity.

This is a reminder that we don’t really know who all of the rich people are. Self-made rich get all the attention, but there are so many rich heirs that no one is paying attention to.

Even though the Walton family has been considered politically conservative, young Lukas has a degree in “Environmentally Sustainable Business” from “Colorado College.” I bet he voted for Obama with a degree like that. If so, it would demonstrate my point about how the children of the extremely rich are overwhelmingly liberal.

* * *

“Colorado College” is a private school, and it sounds like one of those schools where most of the students are non-academically-inclined rich kids. I found this written about it on the web:

Most people laugh about the fact that CC is a school of rich kids who want to be hippies. Although the tuition certainly necessitates a more affluent population, most students are very down-to-earth and like to get involved and be outdoors. Despite their tolerant and welcoming reputation, the school has surprisingly few minorities: it’s very white. The school is perceived, especially by the town of Colorado Springs, as being extremely liberal and kind of being a world within a town that is totally separate, even to the point of there being very little police involvement on campus. Most students are very interested in hiking or backpacking or some kind of sports, but they try also to be very socially active. The stereotypical CC kid is wearing Chocos, a wrinkled teeshirt, probably hasn’t showered that day and (if a boy) is sporting some stubble.

Written by Lion of the Blogosphere

November 7, 2015 at 4:38 pm

Posted in Wealth

52 Responses

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  1. I thought for a second you were saying Luke Walton (Bill Walton’s son) was a multi-billionaire.

    Jokah Macpherson

    November 7, 2015 at 4:50 pm

  2. Colorado College is very granola. Tons of trustifarians.

    uatu

    November 7, 2015 at 6:21 pm

  3. “surprisingly few minorities”

    chairman

    November 7, 2015 at 7:21 pm

  4. Today’s upper crust just doesn’t get it. The old Wasp aristocracy understood that a quality offspring could not be raised within a permanent state of indulgence. Hence they were thrown into highly competitive and scarcity based environments that included mandatory prep school, military service and acts of great distinction or heroism. Only then would you inherit the money. It was to keep them from turning into effete wastrels. Nelson Aldrich described them as the “three ordeals” in his book Old Money.

    A hundred years ago kids like Lukas would be climbing Everest or leading horse cavalry charges in Europe. Now they smoke weed and play hackey-sack.

    B.T.D.T.

    November 7, 2015 at 9:06 pm

    • Is Aldrich’s book worth reading?

      RP

      November 8, 2015 at 8:41 am

      • It is worth reading if you are heavily into class theory, as many of us are. However, despite his insights into such matters he himself was very liberal and his prose is somewhat pretentious. You can tell that he revels in his high society status, although strangely enough, he himself never inherited his family’s fortune.

        B.T.D.T.

        November 8, 2015 at 1:29 pm

    • “The old Wasp aristocracy understood that a quality offspring could not be raised within a permanent state of indulgence.”

      great quote

      it applies to all of us too. indulgence makes us weak.

      rivelino

      November 8, 2015 at 8:57 am

    • I’ve ordered the book. I hate it when people count other people’s money and out wealthy and successful guys, but your great comment saved this post.

      Yakov

      November 8, 2015 at 10:12 am

    • The old Wasp aristocracy understood that a quality offspring could not be raised within a permanent state of indulgence. Hence they were thrown into highly competitive and scarcity based environments that included mandatory prep school, military service and acts of great distinction or heroism.

      You must be referring to the Star Trek alternate universe WASP aristocracy where Abraham Lincoln was a slave owning Confederate general.

      The real ”aristocracy” that gave its children a martial tradition were Southern Cavalier Anglos, not “WASP” Anglos. Cavalier Anglos were displaced as a governing force by the New England WASP businessmen who backed Lincoln.

      During the Civil War, New England businessmen preferred to have Irish conscripts fill the Union Army’s ranks instead of risking their own sons; which led to New York draft riots. In contrast, Southern Cavalier’s famously sent every able bodied son into battle. After the war the WASPs did enroll in the military, but not to the extent the martial South did (Dixie had almost no America First societies during the interwar years).

      Guilded Age WASP elites were fiscally conservative up till the Coolidge administration, after which they began dumping laissez-faire economics for the pro-Communist progressivism of Wilson, Upton Sinclair, and FDR. The Communist sympathising of WASP Democrats as well as FDR’s role as the ring leader of leaking classified information to Stalin was forgotten by the start of the Cold War when progressive liberals split with Eastern Bloc Communists.

      By the 1930s the strongest opposition Republican WASPs could put up against FDR’s barely-concealed Communist administration were Alf Landon types. Landon would later on describe himself as a globalist in the 1960s. Those WASPs who didn’t become Rockefeller Republicans became far left Democrat liberals.

      The Undiscovered Jew

      November 8, 2015 at 12:37 pm

      • What classified information was leaked? Never heard of this.

        Yakov

        November 8, 2015 at 6:34 pm

      • What classified information was leaked? Never heard of this.

        Just about anything Stalin asked from FDR’s administration Stalin received. Which was done with Roosevelt’s full knowledge and instigation – whether or not there’s documentation to prove it – just as the Holocaust must be assumed to have been authorized by Hitler even without the existence of an official document carrying his signoff.

        The Undiscovered Jew

        November 8, 2015 at 10:53 pm

    • “quality offspring could not be raised within a permanent state of indulgence.”

      I used to make a similar point on this blog. Whereas you said indulgence is the problem I said lack of hardship was. Though it’s really just a matter of degrees on a spectrum. Brains are a result of both genetics and environment. The type of environment someone is raised in actually affects brain growth, particularly the amygdala. Humans evolved in harsh environments and actually need stress and hardship to develop a healthy neuropsychology, values, etc. Unfortunately, parents think it’s their job to shield their kids from all that and middle/upper class families have the means to do it. It’s a natural instinct to want to shield your kids from any danger or pain. But if they don’t have some they’ll end up little liberal faggots the way so many trustfunders are.

      I developed this theory independently but found this video by a leftist who had similar though opposing opinion. I think he puts too much emphasis on pregnancy while ignoring childhood. Otherwise, he does a reasonable job of explaining it. Of course, he’s arguing that liberal psychology is better because he’s a flaming leftist. (https://www.youtube.com/watch?v=0fkTHSeazsY)

      The problem with liberal psychology is that, even if we live in relatively peaceful and prosperous countries right now, the potential for war, conflict, etc is real. Always has been and always will be. If we fail to recognize dangers then we won’t take the necessary actions to prevent and/or plan for them. That’s why the amygdala, the part of the brain that recognizes and reacts to fear evolved first. Because animals can’t survive without it. No matter how smart someone is, if their brains aren’t wired to recognize and respond to danger then they’re less likely to survive.

      destructure

      November 8, 2015 at 1:08 pm

      • What you are describing is similar to r/k selection theory. R type animals such as rabbits live where resources are abundant and have many off-spring that receive little attention. K type animals such as wolves live in scarcity environments, are highly competitive and have very few high investment off-spring. K’s have a more highly developed amygdala and are able to perceive threats with a willingness to fight. There is a good case to be made that liberals are R selected humans and conservatives are K selected humans.

        B.T.D.T.

        November 8, 2015 at 3:56 pm

      • @BTDT: I don’t buy that. Asian-Americans and SWPL’s practice K selection in higher magnitudes than white proles and they are much more liberal than white proles.

        uatu

        November 8, 2015 at 5:55 pm

      • Yes – this is because B.T.D.T.’s strategy is best described as “self-congratulatory post-hoc rationalization”.

        Viscount Douchenozzlé

        November 8, 2015 at 11:19 pm

    • Good point. If I was a billionaire I think I would make some sort of requirement, like completing a term of military service, a condition of inheritance.

      Mike Street Station

      November 9, 2015 at 8:28 am

    • “The old Wasp aristocracy understood that a quality offspring could not be raised within a permanent state of indulgence. Hence they were thrown into highly competitive and scarcity based environments that included mandatory prep school, military service and acts of great distinction or heroism.”

      I agree with this.

      The English Public School experience was always understood to involve a lot of privation- cool water, bad food etc…

      Lion of the Turambar

      November 9, 2015 at 10:12 am

  5. US News ranks CC as the 25th best national liberal arts college in the country. Forbes ranks it at #51. That’s higher than I expected. It never showed up on my radar.

    B.T.D.T.

    November 7, 2015 at 9:22 pm

    • #25 isn’t really that high. There are only 3 top liberal arts colleges.

      Lion of the Blogosphere

      November 7, 2015 at 10:11 pm

      • Williams, Amherst, Swarthmore? I would add St. John’s. Middlebury, Davidson has thier points.

        Rob

        November 8, 2015 at 4:05 am

      • Yes, the top three.

        Lion of the Blogosphere

        November 8, 2015 at 10:16 am

      • Amherst, Williams and Swarthmore?

        RP

        November 8, 2015 at 8:39 am

      • There are only three if you went to Swarthmore.

        Renault

        November 8, 2015 at 8:53 am

      • don’t forget middlebury.

        rivelino

        November 8, 2015 at 8:59 am

      • or wesleyan.

        you forgot one or the other.

        rivelino

        November 8, 2015 at 9:01 am

      • I would say 4. Pomona is the hardest one to get into in the country. W.A.S.P. Which is very reflective of the type of people they attract.

        uatu

        November 8, 2015 at 11:47 am

      • There are only three if you went to Swarthmore.

        There might be just two: Swarthmore no longer carries the resume heft it once did.

        The Undiscovered Jew

        November 8, 2015 at 1:15 pm

      • @ TUJ

        Swarthmore most certainly is not in the top tier. Nor is any school in California, LOL.

        Renault

        November 8, 2015 at 6:25 pm

    • There are so many schools that offer the same programs/disciplines like the countless eateries/restaurants when it comes to the fare in your local city, such that the ratings become almost meaningless and confounding.

      JS

      November 8, 2015 at 1:04 pm

    • Yes, don’t be so hard on Colorado College, it’s not for complete idiots the way, say, Boston University must be.

      I went to Pomona College in the early 90s, and Colorado College was in our “athletic league.” It was sort of the safety school for Pomona, whereas Pomona was the safety for Amherst and Stanford. We thought they were rich kids who skied a lot, while we were rich kids, middles, and upper middles who studied a lot.

      Times have certainly changed, as Pomona is impossible to get into now. In my day, you could get into places like Middlebury and Pomona if you weren’t the greatest but had a bit of potential.

      Paul Fussel, of course, is also an alum!

      The Shepherd

      November 9, 2015 at 7:07 am

  6. One of Dick Cheney’s daughters went there. It’s crunchy more or less, but so is much of Colorado. It sticks out in the Springs for sure, which is Ground Zero for W Bush type country.

    ModernReader

    November 7, 2015 at 10:48 pm

  7. This is a reminder that we don’t really know who all of the rich people are. Self-made rich get all the attention, but there are so many rich heirs that no one is paying attention to.

    But it doesn’t mean that there’s more total inherited wealth than was thought. Before this story broke it was just assumed that his mother had been the one to inherit the money that he had actually received. The story actually means that inherited wealth is more equally and widely shared than previously thought.

    Lloyd Llewellyn

    November 8, 2015 at 12:12 am

  8. Colorado College – don’t know much about it, but it looks like it’s just as full of anti-freedom SJWs as the other liberal arts colleges.

    http://catalystnewspaper.com/archive/amid-controversy-stonewall-screening-postponed/

    duh

    November 8, 2015 at 1:12 am

  9. Not surprised. The grandkids of the TOOS elite–which need not be wealthy but simply have incredible cultural or networking connections–go to certain schools that let them study as they please, hang out with their outdoorsy peers, and meet just enough of the rising cognitive elite to have some very High-IQ and ambitious people to carry out their projects.

    They seem to have 1-2 favored places in every state as having develop wider connections in the first generation or two they drill down into local roots. Examples: Green Mountain College, College of the Atlantic, Oberlin, Colorado College, New College of Florida, St. Petersburg Honors College, RISD, St Lawrence University, Annapolis, the really smart/scholarly ones St. John’s, or cunningly enough distance ones like Harvard University (not Harvard College), University of London, or degree (or second degree) by exam places like Charter Oak or Excelsior College (totally out of sight in those). Some also seem to return to old stand-bys like William & Mary, UVM, or Johns Hopkins.

    I think their idea of service is different. It’s international, a lot of UN and third-world internships and what not.

    Rob

    November 8, 2015 at 4:00 am

    • Not a criticism, but I don’t understand this “[t]hey seem to have 1-2 favored places in every state as having develop wider connections in the first generation or two they drill down into local roots.”

      Curle

      November 8, 2015 at 11:44 am

  10. “…the school has surprisingly few minorities: it’s very white.”

    Well, yeah. That brand of liberalism works well with that kind of population. It’s when you get the NAMs, and the dumb-as-rocks white types who desperately need socially conservative policies, that everything goes to hell.

    They are most definitely on the right hand of the bell curve, and don’t need the supervision that the Fishtown morons need. Good on them for finding a little community where they can make policies that suit them. (Now, if they could admit that their politics aren’t universal and needs lots of upper/upper middle class whites to make it work, that’d be great.)

    Jesse

    November 8, 2015 at 7:43 am

    • Sean Gabb, a British Libertarian, addresses your basic point re: the British landed aristocracy in this video “A Defense of the Landed Aristocracy” which is basically a longer exposition on the point you are making. He says the landed aristocracy understood their role keeping the whole society ordered according to the needs of its various components. https://www.youtube.com/watch?v=wzjmTrVS61Y

      Curle

      November 8, 2015 at 11:48 am

    • I’m not even sure if upper/upper middle class whites are any better than their prolier counterparts. “Dumb-as-rocks” think seems to be an universal phenomenon in Meriprolestan.

      JS

      November 8, 2015 at 1:13 pm

    • “Well, yeah. That brand of liberalism works well with that kind of population. It’s when you get the NAMs, and the dumb-as-rocks white types who desperately need socially conservative policies, that everything goes to hell.”

      That brand of liberalism works well for those who practice it because they’re shielded from the consequences of their bullshit. “Fishtown morons” may have higher teen pregnancy, divorce, unemployment, etc. But they’re not the ones pushing H1B’s, open borders and welfare. The first have driven down wages and the last has led to an explosion of illegitimacy and unemployment. While upper/upper middle class may have been smart enough to avoid many of the consequences so far, their policies still cause many of the problems.

      destructure

      November 8, 2015 at 1:52 pm

      • “That brand of liberalism works well for those who practice it because they’re shielded from the consequences of their bullshit. “Fishtown morons” may have higher teen pregnancy, divorce, unemployment, etc. But they’re not the ones pushing H1B’s, open borders and welfare. The first have driven down wages and the last has led to an explosion of illegitimacy and unemployment. While upper/upper middle class may have been smart enough to avoid many of the consequences so far, their policies still cause many of the problems.”

        The reason the Fishtowns of this world do so badly is that they are inferior and shouldn’t be allowed to breed. Yes, their teen and/or out of wedlock births are catastrophic but, with those genes, they’d be catastrophic regardless of age and marital status.

        Yes, the liberal elites should be excoriated for open borders and inappropriate universalism. But the social conservatives should be excoriated because the continuation of their doctrines require that the less intelligent and industrious keep breeding. If smart people become the majority, they’ll tell the churches et al to piss of and mind their own business. And how will the religious organizations make their money then, hmm?

        And if you think it’s unfair to judge conservatives on the worst aspects of their self described leadership, then tough because you’re doing the exact same to liberals. Conservatives love open borders just as much as liberals, maybe even more.

        Jesse

        November 8, 2015 at 4:18 pm

      • All things being equal, I’d agree that smart people should have more children than dumb people. But WHOSE policies are responsible for the negative trends? Clearly welfare increases illegitimacy, fertility (and unemployment) among the left half of the bell curve. However, fertility among the lower class isn’t that high. By simply reducing welfare abuse this half of the problem would go away.

        You’d like to shift the blame to religion. But religion no more encourages fertility among the left half of the bell curve than the right half. It’s just that the right half of the bell curve is less religious. Those on the right half who are religious have higher fertility as well. One could just as easily argue that the problem lies with the right half of the bell-curve for not being religious enough.

        You look at the disparate fertility rates between the left and right half of the bell curve and blame the left half. But fertility among the left half in America isn’t that high. The real problem is that fertility among the right half is so low. And this is directly related to women pursuing higher education and careers.

        I realize this goes against your political beliefs. But your beliefs are what’s producing the negative trends on both sides of the bell curve. Perhaps you should stop trying to justify your beliefs and start looking at things objectively?

        PS: Social conservatives aren’t pushing immigration. The business class is. They’ve been fighting social conservatives for control of the GOP for decades.

        destructure

        November 8, 2015 at 9:20 pm

  11. Brown University: a dumping ground for rich kids not smart enough to get into Harvard or Yale. See: JFK Jr.

    Brendan

    November 8, 2015 at 10:40 am

    • Its too easy to say that if a school isn’t Harvard or Yale then it’s second rate. I don’t buy that. Brown has an acceptance rate of 8.7% and an average SAT of 1435 on Reading and Math. That corresponds to an IQ of 140. Plus, I’m not convinced that going to a top-ranked school school where you’re below average or even average is wise. You’ll always be struggling. I knew someone who went to Harvard with affirmative action and it was a disaster. Whereas she could have gone to a top state school and been outstanding. You’re much better off going to a school where you’re at about the 75th percentile. That’s high enough to keep up and master the material but low enough to be challenged and have to work for it.

      destructure

      November 8, 2015 at 4:29 pm

      • I received a 1490 on the SAT – no way am I an IQ of 140.

        uatu

        November 8, 2015 at 5:49 pm

      • i thought harvard was really easy to graduate from once you got in there.

        james n.s.w

        November 10, 2015 at 1:06 am

      • James- it is easy if you’re majoring in a fluff subject like English or history (as are many of the privileged who go there). If you’re studying engineering (yes, Harvard has an engineering school), nuclear/theoretical physics, biochemistry, math, etc. it’s not easy.

        Michael

        November 10, 2015 at 5:10 pm

  12. About 10 years ago on a message board I used to lurk on there was a super-liberal very pro-gat “Christian” who started posting about how he read a blog by some gay teen boy Walton heir and thought on this basis the kid was going to be the second coming of Christ. I wonder if this was him?

    Hermes

    November 8, 2015 at 5:19 pm

    • Ding ding ding! Heck, even the Koch brothers (Charles/David/Bill) keep their fourth brother Frederick (who is gay) under wraps fairly well. One little secret of the American gentry is that they still raise their children within traditional gender roles. Gay/trans is (mostly) for proles or what in the USA is called “the middle class”.

      Viscount Douchenozzlé

      November 8, 2015 at 11:25 pm

      • “even the Koch brothers (Charles/David/Bill) keep their fourth brother Frederick (who is gay) under wraps fairly well.”

        As opposed to what — dressing him up like Cher and making him grand marshal of Frisco’s gay pride parade? But you’re mistaken that the Koch brothers “keep Frederich under wraps”. Frederich is estranged from his brothers after having sued them. So I doubt they have much influence over him. Frederick keeps himself under wraps because he enjoys his privacy the way most billionaires and people in general do. Frederick has, however, denied that he’s gay. Whether he is or not is anyone’s guess. Either way, he’s minding his own business. So what’s it to you?

        destructure

        November 10, 2015 at 11:28 am

  13. uatu said “@BTDT: I don’t buy that. Asian-Americans and SWPL’s practice K selection in higher magnitudes than white proles and they are much more liberal than white proles”.

    Good point. This can be explained by the fact that humans are the only animals with access to contraception. If promiscuous, libertine SWPLs did not have birth control they would reproduce at a higher rate than their white conservative prole counterparts. Let’s also keep in mind that although SWPLs can leverage their iq and connections to successful careers they are almost always in occupations that are shielded from direct competition, thus their fondness for academic tenure and civil service protection. They excel at rent seeking but not at direct competition for resources. You will hardly ever see a die hard liberal who is willing to risk his own money (as say an entrepreneur) or his own life (as a military officer). But you can rest assured that he is always willing to risk yours.

    B.T.D.T.

    November 8, 2015 at 8:24 pm

    • “If promiscuous, libertine SWPLs did not have birth control they would reproduce at a higher rate than their white conservative prole counterparts.”

      They wouldn’t do that because they have more self-control, so they’d stop having sex.

      Lion of the Blogosphere

      November 8, 2015 at 9:33 pm

  14. Interesting that someone else heard he was gay. About 40% of his tweets are retweets of a rich French Canadian gay guy about his age, mostly stupid random stuff.

    I have long suspecred that while homosexuality is not directly selected for, there are a bunch of genes that are adaptive and also slightly increase the chance of homosexuality, meaning it will be fairly common in the upper class.

    The photo in NY Mag is not of Walton, but a random German soccer player. Bloomberg has an actual photo.

    Lot

    November 9, 2015 at 3:42 am


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