Any y'all remember Price Club? That is the grand-daddy of these membership stores.
My sister married into the family of Sol Price’s business partner. Pretty much the whole extended family was working for Costco at some point. Let’s call them the Smith family…
The Smith family patriarch/grandpa is worth north of $50 million.
A while back, grandma died. Grandpa remarried into an even wealthier family.
It didn’t take long for the new family to hold a family meeting. Told the Smith family that they were not equipped to manage such wealth, so they promised each child/grandchild $100K and once they received the money, warned against coming back looking for more handouts.
So that’s my Price Club / Costco story.