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next-gens

October 7, 2013

Bill and Melinda Gates met with some of Australia's wealthiest next gens last week as part of a programme to promote philanthropy among the nation's younger high net worth individuals.

Bill and Melinda Gates met with some of Australia's wealthiest next gens last week as part of a programme to promote philanthropy among the nation's younger high net worth individuals.

The Gates – who have already given away a reported $28 billion (€20.6 billion) through their foundation – met with 20 scions of some of Australia's most famous dynasties for three hours in San Francisco.

Amanda Feenstra, daughter of communications baron Harold Mitchell, was on the trip, as well as Prue Pateras, a third gen of the Fairfax Media dynasty.

September 25, 2013

Two next-gen sisters within the Samsung Group have reorganised their respective branches of their family conglomerate, selling the apparel business of Cheil Industries to another subsidiary within the group.

Two next-gen sisters within the Samsung Group have reorganised their respective branches of their family conglomerate, selling the apparel business of Cheil Industries to another subsidiary within the group.

The apparel business – headed by Lee Seo-hyun, second daughter of Samsung Group chair Lee Kun-hee – will be transferred to Samsung Everland, led by her elder sister, Lee Boo-jin, in a KRW1.5 trillion deal (€1 billion). The deal is due to be completed by December.

April 3, 2013

Almost half of wealthy next-gens think that campaigning for social change is as important as making money, new research has found.

Almost half of wealthy next-gens think that campaigning for social change is as important as making money, new research has found.

May 11, 2012

More than $25 trillion (€19.32 trillion) is expected to pass from one ultra-high net worth generation to the next by 2050, but issues over giving up control and empowerment are affecting decisions about wealth transfer.

More than $25 trillion (€19.32 trillion) is expected to pass from one ultra-high net worth generation to the next by 2050, but issues over giving up control and empowerment are affecting decisions about wealth transfer.

That’s one of the findings of new research conducted by Morgan Stanley Private Wealth Management and Campden Wealth. Entitled Next-Generation Wealth: The New Face of Affluence, the study of more than 50 very wealthy families in North America suggests there are control issues affecting wealth transfer to next-gens.

February 22, 2012

Family businesses in China might not be as old as their western counterparts – Chinese family firms are just nine years old on average – but there is plenty of opportunity for next-gens to learn from founding family members.

Family businesses in China might not be as old as their western counterparts – Chinese family firms are just nine years old on average – but there is plenty of opportunity for next-gens to learn from founding family members.

Tony Gao Hao, director of executive education at Tsinghua Alumni Association, part of the Tsinghua University, reckons that despite numerous challenges in the Asian country, family businesses in China are powering ahead.

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