A 30-year-old Princeton graduate, who allegedly shot dead his multimillionaire hedge-funder father, was upset that  his weekly allowance had been cut back, according to published reports. Tommy Gilbert Jr, a former pupil of Manhattan's most prestigious private schools, was being questioned by police on Monday after 70-year-old Thomas Gilbert Sr, founder of $200 million hedge fund Wainscott Capital, was found with a gunshot wound to the head. A source told the New York Daily News that Mr Gilbert Sr had cut back Tommy's weekly allowance to $300 and threatened to stop paying his rent. Gilbert Jr lives in a one-bedroom apartment in Chelsea where, according to listings, guarantors were accepted on the $2,400-a-month rent.
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Thomas Gilbert, 70, was allegedly shot in the head by Thomas Gilbert Jr, 30, at his $6,000-a-month Manhattan home, according to police sources
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Gilbert Sr founded $200million hedge fund Wainscott Capital in 2011
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Father and son were discussing 'differences in their relationship' before shooting, according to reports
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It is believed that the 30-year-old sent his mother out to get him a sandwich so she would not be in the home at the time, according to reports
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A friend told Daily Mail Online: 'He must have been really angry about something to do something so out of character'
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Gilbert Jr, who attended $50,000-a-year school, arrested on Sunday night after barricading himself in his Chelsea apartment
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NYPD have not named Gilbert Jr as a suspect and have not ruled out the possibility of suicide
Police surrounded the family property, a $6,000-a-month rental, in @placeholder on Sunday