Dead Dad Worth a Lot Less Than Hedge Fund Scion Accused of His Murder Anticipated

Thomas Gilbert, the hedge fund heir who allegedly killed his father over a $200 drop in his allowance, will likely be disappointed to learn that the old man (of whose will he is a major beneficiary) was only worth $585,555.50—far less than the $1.6 million Thomas and his mother expected.

According to the New York Post, longtime Wall Streeter Thomas Gilbert Sr. lost most of his money when he tried and failed to start his own hedge fund, Wainscott Capital Management:

The elder Gilbert — who was allegedly gunned down by his son last year in the allowance spat — had less than $10,000 in stocks and bonds, under $20,000 in cash and retirement accounts, and some $500,000 in “miscellaneous” assets, according to the court papers, which were filed last month in Manhattan Surrogate’s Court by an attorney for Gilbert Sr.’s widow, Shelley Rea Gilbert. Gilbert Sr., 70, also had no life insurance.

Rea, Thomas Gilbert’s mother, is paying her son’s legal fees. She petitioned the courts for immediate access to her late husband’s will immediately after his death. The will says that Gilbert Jr. should receive quarterly payments from a trust in his name for the next five years, the Post reports, after which point he receives the remainder in a lump sum.

Last week, Gilbert Jr. complained about the lack of cable television in his jail cell. A judge ruled him mentally competent to stand trial late last year.