THOSE are powerful words coming from Bill Gates about his thoughts related to his children and their inheritance. A wake-up call for senior generation leaders to prepare and formalize an ownership and succession plan for the next generation leaders.
Gates, who cofounded Microsoft in 1975, is once again the richest person on the planet, a title he’s held for 16 out of the last 21 years. He recaptured the top spot in March 2014 after a four-year run by Mexico’s Carlos Slim as No. 1. Forbes estimated his net worth in 2015 at $80.3 billion, close to six times more than estimated net worth of Henry Sy Sr., the country’s wealthiest taipan.
To continue with the article last week, I have identified seven of the 12 most powerful and time-tested steps to ensure the growth and sustainability of the family business:
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Professor Soriano is an Asean Family Business Advisor and Chair of the Marketing Cluster of the Ateneo Graduate School of Business. He is a National Agora Awardee and author of “Kite Runner”, a book on family business governance and succession.
(sorianoasia@gmail.com)