What Fresh Hell Is This?

January 16, 2015

Arch Conservative Richard Mellon Scaife Blew Hundreds of Millions on his Tribune-Review in Grudge Match Against Post-Gazette

(We're talking three to four of these.)

Richard Mellon Scaife's children have been battling over a trust fund set up in 1935 for Scaife for his "welfare" by his mother, the remainder of which would have gone to them upon his death. That fund went from nine figures to zero. They are demanding an accounting of the trust fund which they believe should not have been used to prop up their father's conservative Pittsburgh Tribune-Review newspaper because of his "vehement dislike for the owners of the Post-Gazette."

Via the Pittsburgh Post-Gazette:
Jennie Scaife’s attorneys wrote that the trustees “distributed over $300 million ... to Richard M. Scaife ... to use in funding Scaife’s newspaper and media operations — the Pittsburgh Tribune-Review — which by admission lost no less than $250 million as of 2007 alone and upon belief lost many millions more to date.”
A total of $700 million went to non-charitable and non-family recipients, including the Trib.

But don't cry too many tears for poor Jennie and David Scaife.

According to the article, they receive one million dollars a month each (yes, you read that right) from another trust set up by their grandmother. Apparently, this is not enough for them.

Yes, the rich are different. Cause if I had money like that...well...

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