What is a Trust Fund Baby?
A trust fund baby is a person who is born into a family with money. Often, this person is privy to a large inheritance of money, generally through a trust fund. The phrase became popular with the emergence of wealthy American families in the 20th century, and the rise of a generation of children born into inherited money. The term is most notably used to describe 21st century socialites like Paris Hilton and Nicole Ritchie, born respectively into the fortunes of the Hilton Hotel empire and the earnings of father Lionel Ritchie. In the case of many rich families in the United States, like the Hiltons, who are worth billions of dollars, a trust is established early for the child. The property or holdings of the parents are put into a trust and managed by the parents until the child is of age to manage the wealth themselves, often 18, 25, or until the original holder is deceased. Before this age, the trust fund baby will live at home on the money of the parents, who often obey every purch
