Tennis legend Serena Williams is married to an American internet entrepreneur and investor.
Serena Williams and her husband Alexis Ohanian were on opposite sides of the table as they taught their daughter, Olympia, the value of money. The couple, who have a combined net worth of £339million, wanted their eldest child to understand that despite the family’s vast wealth, money has to be earned and not just given.
Ohanian had previously explained how Olympia receives a £5.28 allowance ($7) each week for doing housework and even had a contract signed to formalise the agreement. The husband and wife were negotiating against one another and clashed over their daughter getting weekends off, which Williams pushed for.
He said: “Yes, Olympia’s got a contract. $7/week allowance—negotiated by her mom (who somehow got her weekends off). Feed the dog, clothes in the hamper, make her bed, get paid. We’re trying to build the muscle: work = reward. Good things come when you work for it.”
The Reddit co-founder explained that Williams acted as their daughter’s “frustrating” counsel in discussions with her father, once again bringing up that free weekends were a battle that he lost.
"Serena was her lawyer in the negotiation," he explained further. "I drew up a real contract. Her mom was her counsel, which was really frustrating. She's gotta feed the dog, put her clothes in the hamper, makes her bed.
"We're trying to create that flywheel between doing the work and getting the money, and then understanding that there are things you could want."
Olympia’s father continued to explain that she wanted to buy a Tamagotchi watch but had not yet earned enough money through chores. He encouraged her to be patient and save up just a few more weeks, and she would be able to earn the accessory herself.
The seven-year-old later wanted an American Girl Doll dress, but had already spent her earnings, as dad detailed: "[She] broke out the cute puppy eyes. Believe me, she knows how to work Papa."
Even though Olympia and the Williams-Ohanian family are set up financially for generations to come, he did not want their children to grow up spoiled, having both come from humble beginnings.
He explained: “I need [Olympia] to feel that little bit of pain of, like, 'Ugh, I gotta wait two more weeks for that paycheck,' and then start to remember, 'Because I do this work, I get this money.’
"Neither Serena nor I grew up with wealth, so we're both trying to navigate how to create the circumstances for her to be able to be a functional adult while also having resources that we couldn't have imagined."
