“It is always the 28th generation that sells the family jewels.”
LOL! For the most part, once a Family Empire reached the Third Generation, it’s in tatters and has been drained of all it’s equity.
Anxious to see how Barron Trump runs things when it’s his turn. ;)
My 3rd generation cousins sold the family business after 99 years in 2007. My uncle said to me “why did they not wait till the 100th year?”.
I was the one who told my uncle the business was sold after one day looking up the company name and seeing it was sold to a competitor.
The nephews did not even tell their 2 uncles who had sold their shares when they were in their 80’s and were being paid over time. Neither lived in the state where the business was.
The nephews had the finance guy ask them if they wanted to be paid in full instead of over the years and the taxes would be taken care of. He never mentioned a sale was going on. The 5 cousins split the sale price of $20 million. I do not know what the amount was after expenses.
The building was later bulldozed and a new office and rental apts were built in it’s place after the buyer sold the land several years ago.