Good Fortune: Building a Hundred Year Family Enterprise

Most family enterprises do not outlive the first generation. But a few survive for several generations, with a thriving business and a unified family. What causes them to beat the odds?We interviewed family leaders from 38 families that have successfully made it through at least two generational transitions. We call them Generative Families, because they have not dissipated the family wealth, but rather used the wealth as a creative force to allow them to grow, develop, innovate and share the benefits of their wealth widely across several generations. this study presents their stories—in their own words—about how they approached each transition. Through 18 case studies we illustrate how each family organized its family and business or financial affairs, thus parting the curtain on very public and highly private families. While we have protected our respondents’ confidentiality, their stories shed light on their internal values, organization and activities, and how they overcame often-significant crises and conflicts.