I had no idea that my friend is a multi millionaire!!

[shockedpuppy]

Been friends for 35+ years. Both from "normal" working class backgrounds. I found out today, that her DH's business turned over £100 Million last year. Yes, One Hundred Million, it's not a typo.

They have a nice house in the South East, worth maybe £700k. There are no obvious signs of such wealth. They are not big spenders. We were at a party with them last month, and they were (as usual) quite slow to get the drinks in when it was their turn. We definitely got in more rounds. Gifts at Christmas are especially frugal, I normally receive something that has obviously been recycled as it's so bizarre, or it's obviously a freebie with another purchase.

I had been feeling quite good recently about money, as we pay off our mortgage later this year (house worth about £340k for context), and we will have a reasonable amount in savings. Now I just feel a bit Meh, as we will never attain anything like this. Just one million would do me, lol. I know comparison is the thief of joy, but I feel absolutely positively green with envy.

They will be able to do things for their 3 daughters when the time comes, like buy them homes outright - something we can't do.

We are all in our 50's, if that's of any relevance.

I understand where you’re coming from with being shocked. But also as others have said, turnover does not mean profit and it doesn’t mean they pay themselves thousands either.

There is no point in being jealous as it will rob you of your own happiness and as you said, you thought before this you were doing well. Money doesn’t equal happiness and I am sure your friends have worked their asses off to get where they are and had some very stressful times.

Not everyone with money is extravagant either and that’s absolutely fine. My FIL is a very wealthy man, but if you didn’t know you would never suspect it. The man walks around with holes in his socks, drives his cars around until they are total scrap.

Wtf? I do earn my own money thanks 🙄

Well quite! By your own logic we shouldn't believe these people have been your friends for decades given you're souch worse off than them financially...

It has bothered you enough to search their business accounts, start a thread and describe yourself as jealous.

The next thing that will happen is when you need something you can't afford and start feeling resentful that she doesn't offer to pay for it, 'when she so easily could.' It will make you feel as if you're not really friends. She will start to feel that people only seek her company because they want handouts.

I can see why they kept it quiet. It's nice that they don't feel their status among their friends depends on them showing off how rich they are.

I was surprised when I found out that a relative through marriage had made his first million a few years ago. (He told us. No, he wasn't boasting.)

He and his wife live modestly in an ex-council house. They've not changed their lifestyle dramatically. I think that that might be more common than we realise.

Thus dictating how they should spend their money. You believe they should not buy anything second hand for a work kitchen otherwise they are tight. Why would they spend their hard earned money on people who are jealous, entitled?

Net worth almost certainly means its their business, which is an asset, is worth that were they to sell it. A businesses value also fluctuates. It doesn't mean they have that much sitting in the bank. I would imagine they pay themselves a decent wage/dividends but doesn't mean they're personally receiving millions in cash every year.

For everyone saying turnover isn't profit.. of course, but.. if you're turning over 100 million and you're not very well off, you're running your business INCREDIBLY badly.

I have enough money to buy my own stuff thanks. 😵‍💫

You sound really insecure.

Well you said yourself that presents are frugal so you obviously expect them to be spending more on you and you also said that you are green with envy... your words, not mine.

Why does it matter?
What does it change?

Then what are you complaining about?

You’re comfortable so what’s the problem? I have several friends who have loads more money than me but all have been through life things I’d never want to. Be happy in yourself. Not jealous

YABU. You have a great life with a mortgage paid off. Some of us have nothing. Tone deaf post.

I felt like I was doing really well, and I guess this has made me realise that others are doing SO much better. Yes, comparison is the thief of joy, but I’m allowed to be shocked. I won’t be saying a word to them OBVIOUSLY!! 🙄

I do!!

But not as much as them. And that is clearly a problem. For you.
And do you have any idea about buisness, at all? His parents “gave it” to him. You do realise, he still has to run it? Take all the legal and financial risks? If you want what they have, go ahead and set up your own business. What’s stopping you??

I am intrigued how you can tell all this from Companies House. That only tells you how much the company is worth, and who are the significant shareholders. Nothing about the personal circumstances of the individuals.

Not necessarily. It depends on the type of business. Our business was fairly profitable until the government slashed our funding. 100% of our revenue came from government funding. Most of our competitors went bust overnight. We kept going on a shoestring for a couple of years by diversifying and finding new revenue streams which was nigh on impossible, but I did it which with hindsight, was a bloody miracle. The only reason I didn’t throw the towel in was because I had 100 staff that would have struggled to find new jobs.

Once I was profitable again, I sold up. My buyers went bust 12 months later.

@aredrosegrewupIm not jealous nor entitled. It was a good, friendly bunch of people who worked there . I do believe how you treat your staff speaks volumes and the way this was done did not go down well.

For a millionaire to buy second -hand mugs on their staff, most normal people can see that is not a good look. It did not make people feel valued or respected..I understand that you can't follow this so this is my last post on it. Feel free to pick away at it. Knock yourself out.

No neither do I.

However a £100m company could well have other shareholders or debts. I would expect GP at 10% and then a lot of that could be reinvested.

My friend has a company that turns £67m and private jets feature in their life, they have a mega mansion and a boat, so I get you OP, but I wonder about the structure.

Stop comparing. Look at what you have. Hide this thread!

Well I’m jealous that you will be paying off a mortgage that more than twice of mine your 50s. I will be in my 70s before mine is paid off 😅