Bruce Wasserstein Children's Family Legacy at Risk in Heir Battle

Bruce Wasserstein's children are facing a family legacy at risk in a high-stakes heir battle.

Their father, Bruce Wasserstein, was a renowned investment banker who left behind a vast fortune.

The children are fighting over control of the Wasserstein & Co. investment bank, which their father founded.

The battle is intense, with each child seeking to take control of the bank's assets and decision-making.

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Bruce Wasserstein has seven children, and his family trust owns New York Media, the parent company of New York magazine.

His children have been involved with the magazine in various ways, with Ben Wasserstein having been an editor at New York before moving on to other roles.

Pam Wasserstein, a 2000 Harvard grad, is a lawyer and has also been associated with the magazine's staff.

The Wasserstein Family Dispute was a highly publicized and contentious issue that involved several members of the Wasserstein family.

Bruce Wasserstein's children were caught in the middle of this family feud.

His daughter, Lily Wasserstein, reportedly struggled with the family dynamics.

The family's wealth and privilege played a significant role in the dispute.

The Wassersteins' wealth was largely built on Bruce's career in finance, particularly his work at Lazard Frères.

Bruce Wasserstein's seven children are likely to be involved in the family business. His investment companies own New York, The Deal, and a stake in Penton Media.

Mr. Wasserstein's children have already shown interest in the magazine. Ben Wasserstein, a 2003 Harvard grad, was once an editor at New York.

Two of his children might potentially take over as the magazine owner. Pam Wasserstein, a 2000 Harvard grad, is a lawyer and has hung out with staffers from the magazine in the past.

Ben Wasserstein used to edit the Harvard Crimson's weekly magazine, Fifteen Minutes.

The Hamptons Estate is a 27.5-acre oceanfront property known as Cranberry Dune.

It's worth noting that Cranberry Dune is one of the finest personal residences in the Hamptons, boasting a 23,500-square-foot, seven-bedroom manse.

The estate includes a tennis court, a pool, and five fireplaces, and is located next to Jerry Seinfeld's home.

Cranberry Dune consists of five lots, and its value is currently being disputed by the estate and Sky's mother, Erin McCarthy.

McCarthy claims the property is worth around $160 million, while the estate estimates its value at $120 million.

The estate has already sold three of the four properties left behind by Bruce Wasserstein, but the dispute over Cranberry Dune's value is holding up the distribution of his $2.3 billion estate.

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Bruce Wasserstein's children from his two ex-wives have never sought out a personal relationship with his youngest child, Sky.

The five older children, Pamela, Ben, Scoop, Jack, and Dash, are now adults, but they've never made an effort to connect with Sky.

Sky's mom, Erin McCarthy, claims the family's dynamics were disrupted by her relationship with Bruce, who was still married to his third wife, Claude, when Sky was born in 2008.

The family's stress levels have been a concern, with Pamela Wasserstein stating in a 2012 court affidavit that sharing the Hamptons mansion with McCarthy and Sky would be a source of unimaginable stress and trauma.

The Wasserstein kids would rather sell the homes than live under those circumstances, Pamela insisted.

The estate has paid tens of thousands of dollars in monthly child support to Sky since Bruce's death in 2009.

Sky has also been renting a luxury Hamptons home each summer, at a cost of nearly $200,000.