Multi multi millionaire at work

[Nojudgementiguess]

one of the Directors at work (I would guess salary of about £150k plus bonuses), been working here years, recently inherited about £25m. We know this because an article was once written about her mother who was a property developer.
aibu to wonder if there are tax loopholes for someone who inherits but continues to work?! Inheritance tax I mean? Obviously office gossip spreads fast and we are all baffled at why she wouldn’t just sail off into the sunset 😂

Financially, I don't need to work. I run my own business which I enjoy and also work part-time in a low paid job because I love the team. I doubt anyone knows, we live in a modest house and I drive an older car. We have made some good investments over the years and own property but I don't talk about it at work.

Mentally I need to work. I spent about 2 years out of work focusing on hobbies and the lack of routine did me no favours. And I know this will sound horrid but the kinds of people who don't need to work really aren't my kind of people.

the new CFO at a multi billion pound company I used to work for was one of the highest ever earning bankers in the U.K. before he joined as CFO. He had earned tens of million of pounds

he then came to work as CFO in his late 30’s earning a fraction of what he earned in banking. I never understood it personally; the life of a CFO at that level is 24/7 totally dedicated focused work. He had small children;I just know that I had tens of millions then I certainly wouldn’t be doing a 24/7 pressured job; I’d be putting my feet up and living the high life with my family!

but I guess someone needs to do that role! 🤷‍♀️

You don't know what she's inherited. An article from years ago fgs. It could be absolute bollocks. Journalistic licence. Out of date info. The Mum could have made bad decisions in the intervening years and lost her portfolio. Or left it all to charities. Or it's tied up in assets not cash in the bank.

Whatever, still not pleasant that a grieving lady is being gossiped about behind her back.

Maybe it's none of your business?

I would definitely still work if I inherited a huge amount of money or had a big lottery win. I absolutely love my job. I work long hours and sometimes, like right now, it’s really demanding and I’m certainly earning my money. But no way would I walk away. And yes, it pays well (but much less than the OP’s colleague).

I think some people, myself included, know that lots of money and no structure by working would be detrimental to their health

Totally agree.

If she is so lovely can you not just ask her why she continues to work

Never trust the papers. I got to know an author who came from a working class background and wrote a book which made him famous before I met him. The media story said 'delivery driver wins 100k contract for a book he wrote in his van.' He told me the reality was he earned 10k for a two book deal - so 5k for each book. And he wrote it at home.

Not everyone prefers the family life,

I'd carry on working.

DHs boss sold his first company (before coming DHs boss) gaining him 100 million. He moved country (to move home) and started a new company in this home city hiring DH and 20 others. They have just signed a deal with a European company to license some tech to them for over 500 million euros over 10 years. His boss still comes to the office 4 days a week and is involved as he likes working and building up others.

I personally think that if he retired a) he would be bored b) he would just spend his money away c) the local political people will chase him for donations. so he prefers to continue working where he sees people daily who treat him 'normally'.

I worked with a teacher who got millions in a divorce settlement, not in the 25 million mark but enough that she could retire early. She had no kids and was early 40s. It was 13 properties all rented in prime locations.

I asked her what she did with the rental cash and she said there was so much she didn't know what to do with it. She did extra tuition too at weekends and evenings despite being worth at least 3 million. Complete madness in my book why you'd stay in a tough job like teaching with that money but each to their own.

Never trust the papers. I got to know an author who came from a working class background and wrote a book which made him famous before I met him. The media story said 'delivery driver wins 100k contract for a book he wrote in his van.' He told me the reality was he earned 10k for a two book deal - so 5k for each book. And he wrote it at home

this and what the papers print can be the cash on paper, after tax and overhead costs like through agents etc the real sum can be much less. So for example I saw Jim Carrey in an interview saying it's often printed he gets 20 million a movie but that after tax and other costs it's more realistically a quarter of that.

Still a nice sum but the media can exaggerate/sensationalise. When I hear people use celebrity net worth website as a means to value celebs I cringe-how the hell would a website know?

All wills etc need to go through probate which takes about a year anyway.

I would keep working until rumours of my wealth died down, and then quit to live my life of pottering on a small farm with chickens, books and cake. Fresh off the back of an article about my millions, with colleagues posting on MN, I’d keep working until people assumed I wasn’t as wealthy as I was.