Family fortunes : how to build family wealth and hold onto it for 100 years

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From bestselling author Bill Bonner comes a radical perspective on managing family wealth, offering a practical guide to achieving and sustaining multigenerational prosperity. This comprehensive resource is infused with Bonner's personal anecdotes about his family's wealth philosophy. It emphasizes the importance of training and motivating all family members to collaboratively pursue uncommon goals, challenging conventional notions about wealth management. The book is essential for individual investors, even those not intending to leave money to their children, as it questions widely accepted investment principles. Rather than adopting a conservative outlook, Bonner presents a revolutionary manifesto, arguing against investing family money in "safe" options and highlighting the pitfalls of charitable giving. He contends that allowing children too much independence, relying on wealth "professionals," and over-educating them can be detrimental. Bonner critiques the calls for higher tax rates from wealthy figures like Warren Buffett, views Wall Street as detrimental to capital, and asserts that many celebrity CEOs threaten their companies. This book redefines family wealth as dynamic and forward-looking, offering actionable advice for passing wealth across generations. It is a compelling read for anyone interested in a fresh approach to wealth management.