In an interview with Graham Bensinger in Baku, for In Depth with Graham Bensinger, former Formula 1 CEO Bernie Ecclestone discussed his daughters, Deborah, Tamara and Petra, the latter two of which are going through their inheritance at a rapid rate, and how he sometimes help them with business matters.
Ecclestone had a fairly frugal upbringing, he had to work hard for his money and to get where he is today. That is not the case for his daughters however, who have a million dollar inheritance from which to dip into until that pot runs dry.
Although Ecclestone says he does not care that they spend to their heart’s content, he also feels that it is not the best way for his offspring to learn their way in the world.
“Well the money was there for them to use… if it runs out, they’ll have to find something else to do…
“Doesn’t bother me. Except I know they’re gonna come back. And I’ll just give it until it’s run out…
“One of my daughters is doing very well with their company…”
Although he lets his daughter run her business as she sees fit, Ecclestone admitted he does step in from time to time to offer advice and take care of some of the less desirable actions that must be undertaken.
“Next week I’m meeting some people in her company that she’s not terribly happy with. So I’ll have to have a chat with them… Probably get rid of one or two of them.”