I guess he failed the intelligence test after all. Most of what I read there can be summarized as 'person with a little money is losing it'. This is not rare at all by the way, quite a few people who come into some money end up with the ultimate fear: losing it all. And if you continue to spend your money on expensive stuff you don't need you will most likely end up back where you started in a while.
This is a pretty sad story and the person underneath it has my pity, not my envy.