Lewis Katz was killed almost two years ago when his Gulfstream jet crashed on takeoff. According to the NTSB there was lots of blame to go around; some pilot error, some design flaw.
His two children just sued for $250 million stating the standard, “suffered the loss of his income as well as his companionship and guidance, and have endured mental anguish over his death.”
Here’s the thing, Lewis Katz was rich. Fabulously rich. 1% rich. His net worth was estimated to be $400 million. It’s not like he just won it in the lottery the day before he died; he bought an NHL & NBA team in 2000. I’m assuming that since Dad was a multi-multi-millionaire for decades that the kids weren’t paupers either. Now they’re each roughly $200 million richer.
Assuming they negotiated a deal with their lawyer for only a 20% stake; they’d each get roughly another $100 million each. Yes, to almost all of the Dopers that would be life changing money, but to them I don’t really think so. A 50% increase in my net worth would have an impact on my life/retirement but this seems like me suing for $100. Is there much one can afford/do with $300 million that one can’t with only $200 million? So what’s the real reason for this lawsuit?