Barron’s Next talked money with Grint and Luke Pasqualino, who are both starring in Snatch, a new show on Sony’s Crackle network.
He is a wealthy, successful actor and one of the most recognizable faces on the planet. Like many 20-somethings, though, Rupert Grint never received formal lessons on finance or investing. He relies on a few, select people to help him manage his money.
Grint, 28, who now stars in the show Snatch on the Sony-owned TV network Crackle, amassed a fortune from playing Ron Weasley in Warner Bros.’ Harry Potter film franchise, starting at age 11. But he says the money makes him feel a little uncomfortable.
Just having it? “Yeah, a little bit,” Grint says. “Just not quite ever feeling like I’ve really earned it, do you know what I mean?”
“You have,” counters his Snatch co-star, Luke Pasqualino, 27. “How many 11-year-olds start working?”
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“It was a sacrifice,” Grint jokes. The money was initially locked in a trust, but the actor has since empowered his accountants and his father to invest in property. “I think it seems to be a safe place. I’ve always been low-risk with those kinds of things.”
Don’t expect to see a similar prudence in Grint’s latest role in “Snatch,” which is adapted from the Guy Ritchie film of the same name, about London’s criminal underworld. Grint plays Charlie, a young man who wears colorful suits, socks, and bow-ties and rebels against his posh upbringing with small-time hustling and gambling. Pasqualino, who gained fame on the British show “Skins,” plays Albert, the son of an imprisoned thief who struggles to make ends meet, and to forge his own identity despite being drawn to the same unlawful world that took away his father.
The two London-based actors sat with Barron’s Next at Suspenders pub in Manhattan’s financial district, on the eve of St. Patrick’s Day. They drank pints of Guinness and reflected on having wealth at a young age. Both hired accountants early, and both invested in property.
Rupert, you won the lottery ticket for child actors and earned enormous wealth at a young age — did coming upon that much money early on shape or influence your identity?
Grint: I’ve got quite a weird relationship with money, I think, because I was earning at quite a young age, and I didn’t really understand it. So I’ve always kept quite a distant relationship to it. I don’t really deal with it. I’m not hands-on with it. It’s strange to know really what to do with it, especially at that age. It always seemed like too much, in a way. It was quite overwhelming.
‘It always seemed like too much, in a way. It was quite overwhelming.’
—Rupert Grint on his relationship with money.
Was the money tied up in a trust?
Grint: Yes. It was. It’s kind of locked away, really. My parents are kind of like the keepers. I went through a phase where I was just buying ridiculous things. Because it came really suddenly — I was 11. I bought an ice cream van — it was always a dream of mine — a menagerie of strange animals. It was kind of a bit like Neverland at one point.
Was that in reaction to having so much money?
Grint: I don’t know. It’s weird. It doesn’t really motivate me anymore. It’s not something I really think about. I don’t even know the entire figure, really.
Did you hire a financial advisor?
Grint: I got really good accountants. My dad has been very hands on with that. Property — I’ve got a big portfolio now. I think it seems to be a safe place. I’ve always been low-risk with those kinds of things.
Luke, was there an adult lesson you learned in terms of dealing with money?
Pasqualino: I was 18 and “Skins” was my first job. I was careful with my money at the start, and then when I started to earn more, I started to just blow it on everything. It was a turning point in my life, when I was about 21, where I realized I had been working for three years, good money, and I didn’t have anything to show for it. I’d spend most of it in nightclubs, four times a week, and buying tables to impress girls. When you get a bit older, you realize it’s actually just absolutely pointless. I realized I needed to start doing something properly with it. I bought a couple properties and just tried to make sure that I had something in bricks and mortar, or some sort of stability somewhere. I thought if it did all go down the pan that I’d have something as a backup.
Grint: I just got a new house, and I grew up in apartments until recently. So, the furniture, and a new dog, as well. I’m definitely getting more independent in terms of money.
Who advised you to invest in properties?
Pasqualino: I’ve got a good accountant, and my dad’s got quite a big property portfolio, as well. My dad’s very savvy with his money. All he’s ever known is to work hard — he left school at 14 because he had to support his family. He would point me in the right direction. With his help and my accountant’s help, we invested in the right things. As long as you’ve got someone you trust. I never once felt that my dad was trying to rip me off or anything.
Grint: I think it’s important that you can have someone that’s completely on your side. It’s why I put so much faith in my dad. Let him deal with it, and I just spend it occasionally. [laughs]
What’s something you splurge on now?
Pasqualino: My nephew. My sister’s got a 20-month-old little boy. My bank account dwindles because of him. Toys, clothes. Last time I was out, I saw a pair of Roberto Cavalli trainers. This was when he was only about nine months, I bought these Roberto Cavalli trainers, and he probably wore them for about a month and he had grown out of them.
Rupert, if you and Daniel Radcliffe had lunch, who would pick up the check?
Grint: I don’t know. It’s always a tricky one. It’s quite a British thing, I think. You always want to pay, don’t you? I think we’d split it. We’d go dutch. The last time we had dinner, I can’t remember who paid!
Original article found at barrons.com March 18th, 2017