Next-generation reinvention and entrepreneurship | Wealth Office
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Themes / No. 5

Next-generation reinvention and entrepreneurship

How heirs and founders build new ventures, earn authority and reinvent family enterprises for the next generation.

Theme hub

Members of wealthy families are often expected to preserve what they inherit. Many Wealth Office guests describe a different expectation, that heirs should build. Allen Law's family requires each member to lead a business unit, which has carried it from garment manufacturing to longevity. Marco Poon describes how outside work or a family-funded venture makes successors battle ready. Nicolas de Santis tells a 25-year-old heir to get his hands dirty and focus on value creation. Marshall Jen observes that next-generation leaders may hold the title while patriarchs still decide, and suggests a small allocation can change that. William Louey and Howard Bilton describe giving their children room to choose, and Shield Xiao Dun shows what a founder builds after a first success. This theme follows how families prepare, fund and eventually empower the people who will reinvent them.

The essay

Why the next generation is being told to build before it inherits

Guests describe the rules, outside experience, small allocations and freedom that families use to prepare heirs to reinvent the enterprise they will inherit.

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