Bernie Ecclestone, the 81-year-old Formula 1 boss, has recently expressed his disappointment in his two beautiful daughters--in regards to their lavish spending habits. Back in 1997, the loving father deposited £3,000,000,000 (over $3.5 billion) in a trust that Tamara and Petra would have full access to when they reached the age of majority.
He had hoped that his daughters would find clever ways of investing the money. He wanted a great future for his children and grandchildren and hoped that this money would ensure that.
“The idea was that they’d buy super-quality property that would be long-term, for their children and everything else. It didn’t happen. They haven’t done that.”
Among the lavish, opulent, and ridiculously expensive things the two sisters spent their money on, are Petra’s £12 million wedding and Tamara’s £1 million crystal bathtub. They spent the entirety of their trust in less than ten years.
What makes this situation even worse is that Petra and Tamara's poor father, Bernie, has only a net worth of $4 billion. Take away his gorgeous daughters' squandering of $3.5 billion of that and what is he left with?! It's times like this that will make him wish their mother was Jewish. We would disown these girls in a heartbeat.
While our team at Elite does love the Ecclestone sisters dearly, we are embarrassed that they've squandered their inheritance so quickly on frivolous purchases. We can't foresee any realistic, viable means of them regaining that wealth any time soon.
We can't even make up the ways they spent this much money. Here is a running tab of some of their latest expenditures:
Tamara's Shoe Collection: $175,000
Tamara's Handbag Collection: $110,000
Tamara's Crystal Bath Tub: $1,500,000
Petra's London Home: $70,500,000
Petra's LA Home: $80,000,000
Ferrari 599 GTO: $385,000
Rolls Royce Wedding Gift: $520,000
Sea Force One MegaYacht: $150,000,000
Petra's Wedding Ceremony totaled $18,000,000... Below are some of the expenses:
Rental of Odescalchi Castle: $483,600
Petra's Vera Wang couture wedding gown: $125,000
Black Eyed Peas' performance fee: $2,300,000
Fireworks: About $156,000
DJ David Guetta: $786,000
Last January, Bernie Ecclestone was quoted as saying:
"'I'm very proud of them. They're good girls. They're not stupid when it comes to money. They are very level-headed and that is something I and their mother insisted on."
Clearly he misjudged the intelligence of his daughters.
Photo Credit: Florian Seefried/Getty Images