Billionaire’s Daughter Gives Up $400 Million Inheritance For Love

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"I believed Dad's stance was wrong, so there was no question about what was right," Angeline Francis Khoo said after parting ways with her billionaire father.

The daughter of a Malaysian business magnate, Khoo Kay Peng, who grew up with bodyguards, traveled in private jets, lived in a 15-bedroom family home and had homes on three continents of the world just revealed how money means nothing to her when it comes to love.

Angeline Francis Khoo, the former heiress of to the Laura Ashley fortune, started dating her now-husband while the both of them were studying in Oxford. Angeline’s husband, Jedidiah Francis, is from the Caribbean and he currently works at the technical company ASOS as the Head of Data Science.

The 34-year-old former heiress decided to walk away from all of her inheritance and her father’s family business, after he disapproved of Francis.

Khoo is currently the chairman of the fashion and lifestyle company, but after his death it was Angeline who was supposed to handle everything.

However, she had other plans.

"I believed Dad's stance was wrong, so there was no question about what was right," she told DailyMail.

"I've been fortunate to have that perspective. You can have money and it's a blessing; it allows you to do things and gives you options, but there are also things that come with it, such as control,” she added.

"Money amplifies negative characteristics and that can cause problems. To walk away from that was actually very easy. I didn't even consider it."

She married Francis at Pembroke College Chapel, where she says the couple spent around $2,000 on the arrangements with just 30 guests – who were mostly their Oxford University friends and Francis’ relatives.

No one attended the wedding from the bride’s side.

After getting married, the couple lived in Francis’ college lodgings. Angeline took on several jobs in marketing after giving up everything she could have had in her name, had she sided with her father.

According to Forbes, in 2015 her net worth was estimated to be $407 million.

But she decided to choose love over money.

Naturally, she wasn’t great at budgeting.

“I always had a budget, but it became critical. To me it was the hardest but the best time of our lives. I think Jed would say the same. It was the most bonding; it gives you a foundation. Mum was really good about making us aware of people in less fortunate circumstances, but unless you experience what it’s like to worry about how you’re going to pay for your food and bills, you can’t ever really get it,” she said.

Angeline doesn’t have fond memories with her tycoon father, who was publicly battling for a divorce with his wife for five years. It was finally settled at a price for $84 million, but for Angeline, who was closer to her mother, her father’s money had control over their lives.

“In these situations with so much money often people are, like, ‘I don’t get it. Why are they fighting over so much?’ But it’s not really about the money, it’s about control and losing that control. That’s something that a lot of people can’t grasp because you’re discussing finances way beyond your basic needs.” 

Now that her mother is divorced and Angeline lives with her husband on her own terms, she is contented. But she still hopes to mend her relationship with her father somehow, “in the sense that he can let go of his anger and his hurt and there can at least be some (form of) cordial, warm relationship,” she said.

Thumbnail Credits: Pixabay, Yespick0402

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