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Spoiled young adult living an idle life on investments; the most envied creature on the planet and they know it. Usually very pretty in a childish way, with an air of pampered boredom. Maxed out on credit cards but doesn't care as these are covered every month by the private banker.
At 25, Emma, who does not work, has a luxurious apartment (all paid for), a string of desperate admirers, a personal assistant, and only 35,000 a month to live on.
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Living a decadent life filled with exotic drugs, music festivals and Daddy's credit card, the trust fund hippy leads quite a lavish existence. A delusional breed of trust fund babies inspired by ideals of free-love, artistic expression and environmental conservatism, these particularly abhorrent hypocrites usually amount to nothing more than lazy acid-loving potheads who refuse to to recognize their place in society as cash-cows for largely unoriginal music acts fueled by new age technology, massively oversized speakers and lightshows so over-the-top and spectacular that the true hippies of the '60's and '70's probably would have enlisted in 'Nam just to see them set to Pink Floyd. Tell a trust fund hippy that a life of live music and drugs inherently requires a significant financial backing simply not available to 99% of people in the world and you'll be met with outright anger and denial. They will tell you their lifestyle is about mind-opening experiences and spreading peace and love as they take a drag of Cali's finest weed on the way to Coachella where they'll make about 5 videos commemorating the weekend on their latest version of the iPhone.
Trust fund hippy 1: Dude, I ate 5 grams of shrooms last night and realized something.
Normal human being: What?
Trust fund Hippy: Life is beautiful, man.
Normal human being: Yeah, it should be if your parents give you money to smoke weed all day, party all night and go to like 5 music festivals a year, douche.
Trust fund hippy: Dude! I'm just careful with my allowance and save it for things I really like! Don't be a dick, man!
Normal human being: I hate everything about you
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That one Super Pac that's literally is in every single advertisement on YouTube. A lot of their ads are extremely misleading and overly exaggerate what's happening.
Me: Literally just trying to watch the video
Senate Leadership Fund: Here's why Jon Ossoff has been making deals with terrorists.
Mercedes + faux "green" philosophy + carbon belching vacations +
visting the parents at their colonial mansion + expensive, top of the
line REI / Patagonia + Uptight, holier-than-thou attitude on all
subjects, including ones in which others have greater expertise + Long
stints in college possibly leading to decent semi-academic career
although still one that is disappointing to one's parents OR just follow Phish and disappoint one's parents +
+ rowing team/ultimate frisbee/"outdoors"/longboarding/surfing, etc. + boarding school + the "king" stoner of the boarding
school + no "rules" for one's own kids/dogs/other hippie buddies because that's "too oppressive" + plenty of judgment and "rules" for other
kids/dogs/people = trust fund hippie
Dude, you drive a Mercedes SUV identical to your folks'! You are a Trust Fund Hippie! Just admit it!
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(FINANCE) business entity formed to pool money provided by investors in order to buy majority stakes in existing companies. A common practice is to then "take the company private," so that it no longer has shares trading on the stock market. The company is then restructured, so that it has entirely different management practices, or a different business strategy. Afterward, the PE fund will most likely re-sell the company on the stock market in a sponsored IPO.
Private equity funds are usually limited liability partnerships (LLPs), which gives them special privileges of nondisclosure; most are organized in the State of Delaware. PEF's have sponsors, or "principals," who are responsible for organizing the fund and recruiting other investors.
Among the best-known PE funds are Blackstone Group*, Kohlberg Kravis Roberts (KKR)*, Goldman Sachs Capital Partners*, Carlyle Group, Permira, Apollo Management, Providence Equity, TPG Capital, Warburg Pincus, and Cerberus. Companies marked with an asterisk (*) are publically listed corporations; most PE funds are pivately managed. The selection above includes the largest ones by capital under management.
The private equity fund first appeared in the 1970's as a result of changes to ERISA. Institutional investors, usually pension funds, could be legal partners in an LLP; they also required a place to park assets with very high rates of return.
In the USA, PE funds have long been sinecures for the most powerful political dynasties: the Rockefellers, the Romneys, the Bushes, and others.
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A child or young adult that are considered widely privileged and wealthy, due to the fact that all their expenses are paid for by their parents.
Friend: Man, how can she afford that nice car without a job?
You: She's a trust fund baby, dude. Her parents probably paid for the car AND the insurance.
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A Person who has alot of money set aside for them and has no responsibilities. Everything is paid for them by their trust. Most don't even know what it feels like to lift a finger or even have a job. In some cases, they act like spoiled brats for the rest of their lives and depend on their parents too.
She doesn't have a Resume because she is a Trust Fund Baby.
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