Inside the luxurious lives of the world's richest kids

 how could he how dare he

he was one of them privileged the heir

to a fortune

21 year old jamie johnson never had to

work a day

in his life then he went into the movie

business

made a candid documentary about his

fabulously wealthy friends

they spilled the beans all the beans and

thus

broke the last great social taboo never

ever ever be crass enough to talk about

money well you could hear the smart set

choking on their silver spoons

they cut young jamie dead you'll see why

in this preview of his sneaky expose

the film he called born rich

[Music]

i always expected that my 21st birthday

party would be the greatest night of my

life

champagne pretty girls you wonder

can life get any better than this

[Music]

well to be blunt it can

[Music]

at midnight i'm going to inherit more

money than most people could earn or

spend in a lifetime

jamie johnson is serious he's about to

become

seriously rich he's share of the johnson

johnson

company founded by his family more than

a century ago

is worth millions and millions of

dollars

every time you buy a band-aid jamie gets

richer

[Applause]

what did i do to earn the kind of money

i'll own at midnight tonight

all i did was inherit it

[Music]

jamie johnson's immense wealth bothers

him

bothers him so much that he dared

question

and he did it in the most public way he

turned a camera on some of his super

rich friends

the wealthiest kids on earth and made a

documentary called

bournemouth

it would be a low estimate very low

estimate for me to say 20 billion

i remember when i was a little kid my my

mom let me spend the day with my uncle

and uh he took me to grand central

station

and he said this is yours we are on the

68th floor

not a bad view to wake up to

[Music]

i think i made a lot of people nervous

and anxious and

you know that's the way they felt about

it you had some some nasty

public encounters i had a few i would be

approached at parties and people would

say

what do you think you're doing why did

you do this i think you did the wrong

thing and there was some tension there

and i think some people feel

like i did break an unspoken rule that

shouldn't have been broken

before i say anything i just want to say

that i am really really reluctant to do

this

and i really don't like talking to this

thing at all and i dislike you both

immensely as a result of the fact luke

will

was one of jamie's friends as heir to a

massive gaming fortune

luke would later regret revealing just

how much power and privilege comes from

being absolutely stinking rich

someone pisses you off and i'm up at

boarding school

this kid's from like some town in

connecticut you know i don't know

i can just say you i'm from new

york i can buy your family piss off

and this is petty and this is weak and

this is very underhanded but

it's so easy you know so in a sense you

were a traitor

you burst the bubble you blew the

whistle

i i i mean i i guess in that sense i was

you know i mean people have said that

about me so

[Music]

and the german baron and italian vicar

in all ten of jamie's friends agreed to

bear their wealthy soul i'm a handbag

group

personally because it's like the easiest

thing to shop for when you're not really

shopping and you're just running in

and you just go and you buy it and you

don't realize how expensive it is

new house the fourth is the eldest son

and heir to a publishing empire it's the

condi nest group which includes

vogue lore vanity fair gq self

glamour house and garden continental

traveler architectural digest bon

appetit

gourmet wired new yorker

and i'm sure there's a couple i missed

cody franchetti is heir to a textile

fortune

lapels you see they're high there's

nothing worse when you see these jackets

with these lapels that go like this

you see they are low riding clinton

wears this kind of thing have you seen

it looks like a restaurant owner

it's so vulgar this is so has an

aristocratic thing to

it now cody

is a part-time model and a full-time

multi-millionaire

who feels not one shred of guilt over

having wealth he's never worked for

and i find guilt absolutely

senseless so i don't i don't uh i don't

feel bad for any

for any thing and uh especially having

money i find it a

very very negative trip and it's

something that is

you know basically for

for uh old women and nuns

while all the people in bourne rich

never need work

jamie's father never has worked not one

day

not ever instead he paints

i don't want to be nervous about money

or be nervous about who i am

and i feel like you're feeling nervous

about this film is

maybe that nervousness of who you are

and

you're in control of this film and i'm

not

so there's a little source of

nervousness

talking about money and having a public

association with wealth

was a frightening a frightening thing

for him

and the way he's dealt with that is by

avoiding

it as much as possible so when his son

decides to pull out a camera

what's worse and discuss it that was his

worst nightmare

i think it was his worst nightmare but

at the same time i think also that's

probably one of the reasons

why i felt like it needed to be done

because it's not

that frightening money is a thing that

you don't talk about

because it's in bad taste why it was to

his father

that jaime turned to seek his advice

about a burning question

even if you don't need to work does it

fulfill you more as a person to have a

job

it's a concept his dad finds difficult

to grasp

after graduation you might pursue the

filming a little bit

but you might also get interested

in graduate school

further studies building a collection

of historic documents papers

publications

and as a career yes

okay and you look at him as if to say

there's something seriously wrong here

i do remember that and it's

kind of funny because he suggests i

collect old maps and there's something

so antiquated about that idea

hand colored oh yeah

well considering i don't have to work

what advice would you give me on

then don't work then don't work

why would anybody in their right mind

work unless they had to

do you have a job no do you want a job

no cody franchetti's

chiseled face looms large over new york

but right now he has put modelling on

hold

in fact this 29 year old says he's put

off any career until he's 40.

it's a decision he's happy with but not

so

many of his mates i have met

more very rich people that are unhappy

than regular people that aren't and this

is i just can't

understand why people think that money

equals happiness it

it isn't so and and often it equals

unhappiness at a certain level what what

would make a very

isolation isolation is one of the main

thing that comes with with wealth with

extreme wealth

and that is a terrible thing this was

my bed it's a little small for me now

and then there's ivanka trump blessed

with beautiful looks

and buckets of money the fact is that

i'm absolutely

you know proud to be a trump this

daughter of donald

never feels lonely but she says she

understands the

oh so terrible isolation money can bring

i remember once i was on a job in

australia

and and this guy just walks up to me who

had never met and says

how does what does it feel like to be

wealthy i was like and i was like excuse

me

and he goes what does it feel like to

never have felt any pain

and that really upset me just the fact

that there really are people

out there who think like that you know

that think

that with money comes comes happiness

i think this is so classic and what of

life you stick everything in it can hold

make a kid for finance era stephanie

oakland

the options are limited poor people

need not apply i fit your little dog in

it i've never actually dated outside my

social background and i've thought about

that

never it's really weird and potential

partners beware

with love comes lawyers one day i'll

fall in love and i'll get married

whatever i'll probably get divorced a

couple years later i'll

have a serious prenup before

up it's been drilled into my head since

i was five years old pre-nup

all the way and if this

little ungrateful has the nerve to

say something like it's unromantic i

don't want to print up

then she's just a gold digger and i

don't want to get married to her anyways

[Music]

well you were all surprised by some of

the things that were seen

times i was really surprised i mean i

was surprised and offended and confused

and just thought

is that is it really this way i mean is

this really the state of things

can you recall when or what

would make you surprised or offended or

mildly abused there's certain moments in

the film

when you see such a strong sense of

entitlement and such a snobbery

and i think those are hard to

watch this is the britannica 11th

edition

which is uh in 33 volumes but

thin and uh and this is the last

edition that was written before it

became from 1911

before it got completely rewritten and

became you know for the masses i mean

now the encyclopedia britannica

is you know

born rich nearly died before it was

finished during the production

luke wheel took legal action to try and

stop it going to air in america

luke failed and jamie's expose of young

money

finally made it to air there was a huge

sense of fear that built

around the movie because press started

to come out before anyone had seen it

before the subjects in the film had seen

it and i think

their family started to react to the

press and their friends started to react

to the press and saying to the kids that

were in the film

you're an idiot why did you do this this

was so stupid and then they got scared

in the end jamie's aim was a very

personal one

to lift the veil of secrecy so that he

could feel

comfortable with his own mega will so

how successful was he how much money did

you inherit

you know it's interesting i it's i'm a

millionaire i'm a multi-millionaire but

i don't really talk about it more

specifically than that

why not and there it is it's like you

know i've

made this film and i i'm comfortable now

talking about wealth in public

but uh i still don't go there because i

won't be upset

yeah i know you know i won't be you any

differently

so to this day you still can't say well

actually i've got you know 400 million

in the bank or

i can have access to a billion dollars

if i want you can't utter those kinds of

words

i can't i've had the benefit of being

rich all my life

and i'll never want for material things

but after working on this movie

i've discovered that what you inherit

may not be as valuable

as

[Music]

[Applause]

hello i'm liz hayes thanks for watching

60 minutes australia

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