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The Family Enterprise - Managing Shared Assets & Entities

Families who share a large business or who work together with intricate structures of wealth function
The Business of Family
The Family Enterprise - Managing Shared Assets & Entities
By Mike Boyd • Issue #13 • View online
Families who share a large business or who work together with intricate structures of wealth function in what is called a family enterprise.
Their financial, legal, and personal lives are intertwined in some or all of the following complex activities:
  • One or more core businesses or operating companies.
  • Real estate holdings.
  • Investments in various markets around the world, including ownership of commodities, such as precious metals or timber.
  • Trusts, financial partnerships, and other entities set up for business, tax, insurance, or estate planning purposes.
  • Income generated via dividends, bonds, distributions from partnerships and trusts, or real estate investments.
  • One or more family foundations and various social and community philanthropic activities.
  • Ownership and management of domestic and international residences and vacation properties.
  • Ownership of yachts, art collections, expensive vehicles, wine cellars, and other collectible or hard assets.
These assets and entities are particularly important by the time the third generation develops. Shared assets must be passed on or held in trust for inheritors who may not have been around when the family’s wealth was originally created.
The complexity of shared wealth changes a family significantly. They have to make decisions and interact with each other on a more complicated level than as a regular family or even as a small family business.
The above summary is a paraphrased extract from the book, Strangers in Paradise (James Grubman) which was also recommended last week. The value per word in this book is so high that I wanted to share more highlights with you. I encourage you to read the whole book.

Recommended Book:
This Week's Podcast Episode:
Mike Boyd
I was ready to hear about their 3,000 truck & trailers, warehouses and logistics businesses but we spent more time discussing

Vertical farming, AI, automation and modernising agriculture. And... they’re putting real pesos behind investments in this space to secure their future.
Interesting links:
Our Story - The Delbros Group
Schumpeter - How Hermès got away from LVMH and thrived - The Economist
Exclusive: The Billionaire Who Wanted To Die Broke . . . Is Now Officially Broke
Stay in touch
Mike Boyd is the co-owner and CEO of the Vroom Group, Founder of Prosura Insurance, Investor at Mudbrick Capital, Host of The Business of Family Podcast and an active member of YPO.
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Mike Boyd

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