He Was Too Rich for College. Nelson did not see any point of attending. By the time he was ready for college, he had already accumulated so much wealth that he thought it was pointless. Though Nelson was making $100,000 per year by the time he was 13 years old, his parents managed his wealth and only allowed him a $50 allowance – even when he was 18 years old. He once had to collect empty bottles so he could pay the entrance fee to a movie theater.