(by Michael Louie as originally appeared at Succession Today!)

Sayings, all well put, from David and Goliath by Malcolm Gladwell, in three different languages:

  1. From shirtsleeves to shirtsleeves in 3 generations
  2. Dalle stelle alle stalle (from stars to stables)
  3. Quien n lo tiene, lo ance; y quien lo tiene, lo deshance (he who doesn’t have it, does it, and he has it, misuses it)

Wealth contains the seeds of its own destruction. Malcolm Gladwell writes that a family can accumulate a certain amount of wealth – up to a point. Beyond that point, the ambition of the next generation diminishes, often rapidly, much like a tipping point. The dollar amount of that wealth is not a specific amount, more a state of mind and the emphasis from the parents of sharing/teaching their core values in the upbringing of their children.

Learn, think, apply!

About the Author

Since joining D&H Group LLP in 1990 Michael has worked with families and their businesses on facilitating succession, income tax planning and mergers and acquisitions. Michael is a Family Enterprise Advisor and has broad knowledge and experience in private enterprise tax and accounting, and specializes in real estate, technology and manufacturing/distribution businesses.

Since joining D&H Group LLP in 1990 Michael has worked with families and their businesses on facilitating succession, income tax planning and mergers and acquisitions.

Pin It on Pinterest