Do you remember this book from your childhood - Goodnight Moon? I came across an interesting article the other day regarding this book. Apparently, the author, Margaret Wise Brown, signed away the royalties to that book to Albert Clarke, her neighbor's 9 year old son. And what became of Mr. Clarke? He basically squandered $5 million in royalties and had about $27,000 left to his name in 2000.On one hand, that's kind of cool she would give some of the royalties to a child. On the other hand, it probably helped ruin his life. He was kind of a problem child to begin with, and he didn't get any money from it until the age of 21. But if you had hundreds of thousands of dollars in royalties coming in every year and never had to find a real job, that would sure as hell change your life. And thanks to Bill Clinton, he and his children will have royalties coming in from that book until 2043. That article is kind of interesting.
At least it's better than leaving everything in your will to your pet.
1 comment:
This is one of my favorite childrens books ever. Too bad for that kid, but it's kind of his own fault. And the fault of his parents for not teaching him to be responsible. I got some money as an inheritance when I turned 20, and it's still sitting in a bank account, accruing interest for when I want to buy a house. Because I could have spent it, but then where would I be?
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