Bernie Ecclestone: My daughters are squandering their children's inheritance


Golden girls: Bernie with Petra, left, and Tamara, who have dipped into the trust for their extravagant lifestyles

Billionaire Bernie Ecclestone has accused his daughters of squandering the money he set aside to provide for his future grandchildren.

The Formula 1 boss said he had put £3 billion in a trust fund for his glamorous daughters Tamara, 27, and Petra, 22, to invest in property.

But he has now expressed his exasperation that the money has instead been used to fund Petra’s lavish £12 million wedding earlier this year, and to renovate both girls’ luxury mansions to cater to their whimsical, indulgent tastes.

Inside Tamara’s £45 million new London home, for example, is a special shoe storage cabinet on a conveyor rack to house her £700,000 collection, along with a pet spa and swimming pool. Petra’s £50 million Los Angeles mansion has a bomb-proof anti-terror room, a bowling alley and parking for 100 cars – and a whole floor to showcase her designer wardrobe and Hermes Birkin bag collection.

Looking a billion dollars: Tamara arrives for the Noble Gift Gala in London, which is held in aid of The Eva Longoria Fund, The Great Initiative, and the Seven Bar Foundation

‘It didn’t happen. They haven’t done that. So they’ve had access to money which they’ve spent.

‘And Tamara’s TV programme just wound everything up, because that’s what they wanted.’

The trust is an account known as Bambino Holdings, which contains money Mr Ecclestone made from his ownership of the Formula 1 commercial rights.

Showcase: Tamara - seen her iwth her new Ferrari - had her extravagant lifestyle showcased in Channel 5 show 'Tamara Ecclestone: Billion $$ Girl'

Pampered: Bernie's daughter pampers her pets

‘I told her, “If you portray yourself really as you are, it’s wonderful. But they aren’t going to let you. They’re going to wind you up, for sure.

'There’ll be things you’d rather they didn’t show that they’ll show, and all the things you’d rather they showed, they won’t. Because that’s the sort of show it is.”

‘I said, “You don’t need the money. I don’t see a lot of reason for it.”

‘But I think that she got talked into it. She believed that the show was going to be about Tamara in normal life.’

No expense spared: Bernie with Petra on her wedding day, which featured an £80,000 Vera Wang gown and music from Eric Clapton

Meanwhile, Petra’s wedding in Italy during the summer included an £80,000 Vera Wang gown, £100,000 on fireworks, and music from Eric Clapton, the American pop group Black Eyed Peas and an 18-piece string section from the Royal Philharmonic.

But as a doting father, Mr Ecclestone has also attempted to justify his daughters’ spending – and his logic is perhaps hard to argue with.

source: dailymail


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