Company Leadership & Governance - Hermès CEO's role includes maintaining family unity [1] - Family firms require more than just business skills [1] - Potential risk exists from heirs seeking to sell their shares for cash [1]

Industry Overview & Challenges - US Census Bureau data indicates over half of US businesses are owned by individuals aged 55 and older, signaling a wave of transitions [4] - Approximately 55 million small family-owned businesses are vital to the US economy, employing a significant portion of the workforce [5] - A US bank survey reveals only 50% of 1,000 small businesses interviewed have a succession plan in place, highlighting a lack of preparation for transitions [7] - Rising generations often prefer inheriting cash from business sales rather than running the family business, potentially leading to job losses and community disruption [6][7] Succession & Transition Strategies - Succession planning should start earlier, regardless of business size, and owners should seek professional advice instead of relying solely on friends [9][10] - Owners should explore options beyond selling, such as becoming owner-investors, to maintain control and legacy [10][27] - Private equity firms offer options for owners to sell while remaining involved, preserving local enterprise aspects [15] Private Equity & Consolidation - Soundcore focuses on recession-resistant businesses, holding them for an average of five years [21] - Soundcore's strategy involves buying small businesses at lower multiples (averaging 59 times EBITDA) compared to typical private equity firms (12-20+ times EBITDA), indicating less competition in this segment [19][20] - The rise of large consolidators may lead to a shift from local, personality-based businesses to standardized, less community-focused experiences [25] Wealth Transfer & Business Value - Baby boomer and older households are expected to pass down approximately $100 trillion in wealth over the next 25 years [11] - Family-owned businesses constitute roughly 18% of their net worth, representing an estimated $18 trillion in business value potentially changing hands by 2048 [12] - A founder's departure can decrease business value if they control key local relationships [14]

One of Europe’s wealthiest families is increasingly handing power to the fourth generation of heirs https://t.co/OfgWFP3dww ...

In Japan there is mukoyoshi, when a family will legally adopt an adult who then runs the family business in addition to marrying the eldest daughter.I once met a Scandinavian guy who had moved to Shanghai as an 18yo in the 2000s and became adopted son and scion of a v powerful family.There will be interesting intersections between eugenics, adoption, surrogacy, and business in this century. The first trillionaire will likely be an adopted son conceived via eugenics and born via surrogacy.Norgard (@BrianNorg ...

How This Billionaire Family Is Succeeding Despite The Collapse Of The American Shipping Industry https://t.co/lyICOUonVy ...