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Rich NYU Kid Belligerently Tells Concerned Citizen That His 'Dad Owns Half Of F*cking Manhattan'

rich nyu kid belligerently tells concerned citizen that his dad owns half of f cking manhattan

Normally if someone said this, we'd be like, good for you.

But it's obvious that this guy was full of it!

Was it his privilege? Or was it more that he was a wee bit intoxicated??

One citizen uploaded a YouTube video last week and explained that he confronted a group of inebriated young adults after witnessing them leave a brunch spot in New York called Pranna. When the group realizes they are being filmed, one youngster heads over to the video-taper and says:

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Steve Madden's The Proud New Owner Of Betsey Johnson

steve-madden-becomes-owner-of-betsey-johnson.jpg

Betsey Johnson has handed over her trademarks to Steve Madden, which officially makes him the owner of her company.

But it's not because Betsey couldn't pay him back.

As we mentioned last month, Steve took over the $48.8 million loan BJ defaulted on. To secure the loan, the designer used intellectual property as collateral, which would become Madden's if she didn't pay him back by August of 2012.

However, the two have come to an agreement that's has made Steve Madden the owner.

The COO of Betsey Johnson couldn't be happier, saying:

"Whenever you come out of a situation with a good partner, cash coming into the business and the elimination of all debt, what’s not to love?"

Fair enough.

Now that Madden's in the drivers seat, he wants to make shoe sales 30% of the business and expand the daytime dress collection.

We're sure he won't have any problems with the shoes.

[Image via Flashpoint/WENN.]

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