Chapter 25 - Niles Learns About the Shares
At ten, we told him more.
Not thirty-six percent first.
We started with:
“Grandpa Howard left part of his company in a trust for you.”
Niles stared.
“Like money?”
“An ownership interest.”
“What’s that?”
Roderick explained shares.
Votes.
Profits.
Risks.
Employees.
Responsibility.
Niles asked:
“Can I sell?”
“No.”
“Can I buy Xbox?”
“No.”
“Bad trust.”
We laughed.
Then percentage.
“Thirty-six.”
His eyes widened.
“Is that lot?”
“Yes.”
“More than Dad?”
“Yes.”
Roderick looked personally offended.
Niles delighted.
“Boss.”
“No.”
We explained trustee.
He did not control votes.
Would gain information gradually.
Education first.
At ten, he began attending one annual age-appropriate meeting with the trust adviser.
Twenty minutes.
What does company make?
How many employees?
Why does ownership matter?
No financial statements designed to make him feel powerful.
The lesson:
You own something that affects other people.
Not:
You are rich.
Howard’s trust had flaws.
May you like
That philosophy was one of its better parts.
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