November 15, 2021 | Eul Basa

CEO's Family Shocked To Learn Who He Left His Inheritance To


This might just be the ultimate act of betrayal ever. Dick Robinson Jr., the late CEO of Scholastic publishing, made headlines when he decided to leave the company and all of his personal possessions to his chief strategy officer, Iole Lucchese. While the move was certainly unexpected to his family, some of Robinson's employees say they saw it coming, stating that the 84-year-old mogul had been romantically linked to Lucchese for quite some time.

According to PEOPLE.com, a source close to Robinson and  Lucchese recalls the two being "very open" about their affair in the workplace. Lucchese, who had served as the company's chair of the board and executive vice president, was highly respected for her professional work and achievements. One former employee even praised Lucchese in the Wall Street Journal, saying that she "spoke freely and candidly" during important meetings and encouraged other women in the office to do the same.

That said, many staffers already had an inkling that she would eventually inherit the company from Robinson, given her 30-year seniority and, of course, her close relationship with Robinson. In 2018, Robinson drafted a will that would give Lucchese full control over the business, which is now worth $1.2 billion.

The Dick Robinson ScandalFlickr

Naturally, Robinson's family was completely blindsided by the move. The entire situation impacted his ex-wife the most since she had been incredibly loyal to the company for decades. Helen Benham had been with Scholastic for over 30 years (more than Lucchese) and she even served on the board at one point. She even stated that her relationship with Robinson grew close even after their divorce in 2003, so it threw her off-guard to find out that neither she nor their sons were included in his will.

"I lived and breathed Scholastic while also raising our two children. Dick told me on more than one occasion, 'You care more about Scholastic than I do.' … I was shocked and we were not expecting this," she said.

Still, her sons hope that their father's decision doesn't take away from his achievements as a parent. According to Reece, his youngest son, Robinson was a regular part of his life and he was a great father overall, despite everything that is going on.

"You might think from the will that he didn't see his sons. That's not true," Reece told the WSJ. "For the last two years, I saw him multiple times a week."

Robinson passed away on June 5, 2021, after a 46-year career with Scholastic. He leaves behind an incredible legacy that includes memorable launches such as Harry Potter and The Hunger Games.

 

 


READ MORE

Internalfb Image

How To Live Big On A Small Budget

Living big doesn’t always mean spending big. These practical tips will help you keep more cash in your pocket. We’ll show you how to do more with less.
January 15, 2025 Alex Summers

Japanese Vs American Work Culture

There are many differences between Japanese and American work culture—including the extreme workplace practice that is fatal to employees.
January 14, 2025 Andrew Matthesson

The Wealthiest People in the US

Discover the 25 wealthiest people in the US as of 2024. From Elon Musk to Len Blavatnik, find out how these billionaires made their fortunes, and what their current net worth is.
January 14, 2025 Allison Robertson

Don't Make These Financial Mistakes If You're Over 50

If you've reached a half-century of living life, congrats! Turning 50 is a huge milestone to be celebrated, but it's not quite time to be careless with your finances—here are some financial mistakes to be wary of.
January 14, 2025 Jack Hawkins

The Biggest Recessions in U.S. History

There has been as many as 48 recessions in United States history. While most are said to only last about a year, there have been some that have dragged on for over three—causing devastating consequences for the American people. Uncover the worst recessions the United States has ever experienced, and what caused them.
January 14, 2025 Allison Robertson

You Should Always Pay For These Items In Cash

They say that cash is still king despite the prevalence of credit cards and debit cards in today's money-moving world. Let's explore when you should use cash and why you should pay for these items in cash.
January 14, 2025 Jack Hawkins



Dear reader,


It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.


Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!


Warmest regards,

The Moneymade team