Inside the luxurious lives of the world's richest kids | 60 Minutes Australia

how could he how dare he he was one of them privileged the heir to a fortune 21 year old jamie johnson never had to work a day in his life then he went into the movie business made a candid documentary about his fabulously wealthy friends they spilled the beans all the beans and thus broke the last great social taboo never ever ever be crass enough to talk about money well you could hear the smart set choking on their silver spoons they cut young jamie dead you'll see why in this preview of his sneaky expose the film he called born rich [Music] i always expected that my 21st birthday party would be the greatest night of my life champagne pretty girls you wonder can life get any better than this [Music] well to be blunt it can [Music] at midnight i'm going to inherit more money than most people could earn or spend in a lifetime jamie johnson is serious he's about to become seriously rich he's share of the johnson johnson company founded by his family more than a century ago is worth millions and millions of dollars every time you buy a band-aid jamie gets richer [Applause] what did i do to earn the kind of money i'll own at midnight tonight all i did was inherit it [Music] jamie johnson's immense wealth bothers him bothers him so much that he dared question and he did it in the most public way he turned a camera on some of his super rich friends the wealthiest kids on earth and made a documentary called bournemouth it would be a low estimate very low estimate for me to say 20 billion i remember when i was a little kid my my mom let me spend the day with my uncle and uh he took me to grand central station and he said this is yours we are on the 68th floor not a bad view to wake up to [Music] i think i made a lot of people nervous and anxious and you know that's the way they felt about it you had some some nasty public encounters i had a few i would be approached at parties and people would say what do you think you're doing why did you do this i think you did the wrong thing and there was some tension there and i think some people feel like i did break an unspoken rule that shouldn't have been broken before i say anything i just want to say that i am really really reluctant to do this and i really don't like talking to this thing at all and i dislike you both immensely as a result of the fact luke will was one of jamie's friends as heir to a massive gaming fortune luke would later regret revealing just how much power and privilege comes from being absolutely stinking rich someone pisses you off and i'm up at boarding school this kid's from like some town in connecticut you know i don't know i can just say you i'm from new york i can buy your family piss off and this is petty and this is weak and this is very underhanded but it's so easy you know so in a sense you were a traitor you burst the bubble you blew the whistle i i i mean i i guess in that sense i was you know i mean people have said that about me so [Music] and the german baron and italian vicar in all ten of jamie's friends agreed to bear their wealthy soul i'm a handbag group personally because it's like the easiest thing to shop for when you're not really shopping and you're just running in and you just go and you buy it and you don't realize how expensive it is new house the fourth is the eldest son and heir to a publishing empire it's the condi nest group which includes vogue lore vanity fair gq self glamour house and garden continental traveler architectural digest bon appetit gourmet wired new yorker and i'm sure there's a couple i missed cody franchetti is heir to a textile fortune lapels you see they're high there's nothing worse when you see these jackets with these lapels that go like this you see they are low riding clinton wears this kind of thing have you seen it looks like a restaurant owner it's so vulgar this is so has an aristocratic thing to it now cody is a part-time model and a full-time multi-millionaire who feels not one shred of guilt over having wealth he's never worked for and i find guilt absolutely senseless so i don't i don't uh i don't feel bad for any for any thing and uh especially having money i find it a very very negative trip and it's something that is you know basically for for uh old women and nuns while all the people in bourne rich never need work jamie's father never has worked not one day not ever instead he paints i don't want to be nervous about money or be nervous about who i am and i feel like you're feeling nervous about this film is maybe that nervousness of who you are and you're in control of this film and i'm not so there's a little source of nervousness talking about money and having a public association with wealth was a frightening a frightening thing for him and the way he's dealt with that is by avoiding it as much as possible so when his son decides to pull out a camera what's worse and discuss it that was his worst nightmare i think it was his worst nightmare but at the same time i think also that's probably one of the reasons why i felt like it needed to be done because it's not that frightening money is a thing that you don't talk about because it's in bad taste why it was to his father that jaime turned to seek his advice about a burning question even if you don't need to work does it fulfill you more as a person to have a job it's a concept his dad finds difficult to grasp after graduation you might pursue the filming a little bit but you might also get interested in graduate school further studies building a collection of historic documents papers publications and as a career yes okay and you look at him as if to say there's something seriously wrong here i do remember that and it's kind of funny because he suggests i collect old maps and there's something so antiquated about that idea hand colored oh yeah well considering i don't have to work what advice would you give me on then don't work then don't work why would anybody in their right mind work unless they had to do you have a job no do you want a job no cody franchetti's chiseled face looms large over new york but right now he has put modelling on hold in fact this 29 year old says he's put off any career until he's 40. it's a decision he's happy with but not so many of his mates i have met more very rich people that are unhappy than regular people that aren't and this is i just can't understand why people think that money equals happiness it it isn't so and and often it equals unhappiness at a certain level what what would make a very isolation isolation is one of the main thing that comes with with wealth with extreme wealth and that is a terrible thing this was my bed it's a little small for me now and then there's ivanka trump blessed with beautiful looks and buckets of money the fact is that i'm absolutely you know proud to be a trump this daughter of donald never feels lonely but she says she understands the oh so terrible isolation money can bring i remember once i was on a job in australia and and this guy just walks up to me who had never met and says how does what does it feel like to be wealthy i was like and i was like excuse me and he goes what does it feel like to never have felt any pain and that really upset me just the fact that there really are people out there who think like that you know that think that with money comes comes happiness i think this is so classic and what of life you stick everything in it can hold make a kid for finance era stephanie oakland the options are limited poor people need not apply i fit your little dog in it i've never actually dated outside my social background and i've thought about that never it's really weird and potential partners beware with love comes lawyers one day i'll fall in love and i'll get married whatever i'll probably get divorced a couple years later i'll have a serious prenup before up it's been drilled into my head since i was five years old pre-nup all the way and if this little ungrateful has the nerve to say something like it's unromantic i don't want to print up then she's just a gold digger and i don't want to get married to her anyways [Music] well you were all surprised by some of the things that were seen times i was really surprised i mean i was surprised and offended and confused and just thought is that is it really this way i mean is this really the state of things can you recall when or what would make you surprised or offended or mildly abused there's certain moments in the film when you see such a strong sense of entitlement and such a snobbery and i think those are hard to watch this is the britannica 11th edition which is uh in 33 volumes but thin and uh and this is the last edition that was written before it became from 1911 before it got completely rewritten and became you know for the masses i mean now the encyclopedia britannica is you know born rich nearly died before it was finished during the production luke wheel took legal action to try and stop it going to air in america luke failed and jamie's expose of young money finally made it to air there was a huge sense of fear that built around the movie because press started to come out before anyone had seen it before the subjects in the film had seen it and i think their family started to react to the press and their friends started to react to the press and saying to the kids that were in the film you're an idiot why did you do this this was so stupid and then they got scared in the end jamie's aim was a very personal one to lift the veil of secrecy so that he could feel comfortable with his own mega will so how successful was he how much money did you inherit you know it's interesting i it's i'm a millionaire i'm a multi-millionaire but i don't really talk about it more specifically than that why not and there it is it's like you know i've made this film and i i'm comfortable now talking about wealth in public but uh i still don't go there because i won't be upset yeah i know you know i won't be you any differently so to this day you still can't say well actually i've got you know 400 million in the bank or i can have access to a billion dollars if i want you can't utter those kinds of words i can't i've had the benefit of being rich all my life and i'll never want for material things but after working on this movie i've discovered that what you inherit may not be as valuable as [Music] [Applause] hello i'm liz hayes thanks for watching 60 minutes australia subscribe to our channel now for brand new stories and exclusive clips every week and don't miss out on our extra minute segments and full episodes of 60 minutes on nine now dot com dot iu and the nine now app

Channel: 60 Minutes Australia

Views: 6,399,918

Keywords: 60 Minutes, 60 Minutes Australia, Liz Hayes, Tara Brown, Liam Bartlett, Tom Steinfort, Sarah Abo, karl stefanovic, 60Mins, #60Mins, trump, donald, ivanka, wealth, money, rich, million, billion, inherit, inheritance, millionaire, billionaire, rich kid, silver, spoon, vogue, allure, johnson, born rich, heir, heiress, gq, vanity fair, glamour, playboy, model, dollar, documentary, business, vanderbilt, luke weil

Id: vTyyb2JaR1k

Length: 14min 32sec (872 seconds)

Published: Fri Oct 15 2021

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[u/jasoningaming]

Super depressing.

TLDR: I made this documentary to make myself feel better about being wealthy vs I learned something and I'm going to give back.

[u/VintageTerror86]

Born clueless*

[u/Maximum_Fearless]

That’s why it’s time for the masses to redistribute the wealth.

[u/goldcoastlady]

They say money doesn’t equal happiness and I guess for them it’s true because they have never lived on the other side. But when you have been struggling all your life, when you know the hardships of poverty, then having a lot of money will definitely equal some form of increased happiness! Buy, hold, DRS and become happy!

[u/Cooleo562]

Skip to 3:49

[u/EbbWonderful2069]

All this talk about the need for pre nups when how many of them actually keep it in the “family” and marry their own cousins. Sick bastards

[u/innovationcynic]

At the end of the day, we are all alone.

Us normal people fill the void by finding meaning in our family, our friends, our work. Sure, it may be hard to make ends meet, but the concept of flow is that you find purpose and meaning in doing things not because they are “fun” or “happy” but because they are part of what makes you alive.

Contrast that with the offspring of the Uber rich, who lack true connections with other people, and then try to fill the hole with very expensive things that they can point at and say “look what I bought” ($500k handbags, anyone?).

The problem is it doesn’t give them meaning or fulfillment. So they keep shoveling things into the empty hole, hoping for a bit of the happiness that you and I discover on a regular basis.

I pity them.

(Note - I said offspring. Many of the people who MADE the money were driven by their work - true of entrepreneurs everywhere - and so that was their source of fulfillment… but their Spouses and kids? They got nothing but $$$.)

[u/HalfbakedZuchinni]

Funny how they start getting scared about the documentary. Almost like they're aware of where their power comes from and how easily they could lose it