April 6, 2016 | By Charles Lowenhaupt
The leak of 11 million documents (“The Panama Papers”) from the files of a Panama law firm, Mossack Fonseca, represents an unprecedented exposure of what is considered highly confidential information about the secret financial dealings of the some of the world’s highest profile leaders and wealthiest individuals.Read More
February 25, 2016 | By Charles Lowenhuapt
Significant wealth and family dynamics are always complex, but some aspects don’t change from generation to generation—or from continent to continent.
I was reminded of that during a recent trip to Sydney. Speaking at an event with a number of wealth holders and wealth inheritors, I had numerous conversations I’ve heard repeated again and again in the U.S., Europe and Asia. They go like this: Wealth creators say their children are aimless and lack their passion and direction. Family money, they say, has made their adult children soft. They bemoan the fact that the children lack “motivation.” For their part, adult children complain that their parents are too controlling. The children say they are passionate about their ideas and their future, but their overbearing parents are unwilling to help them use a small portion of the family fortune to change the world or fund their projects.Read More
December 17, 2015 | By Charles Lowenhaupt
The birth of a child is a wondrous event, and all the more if you’re one of the richest – and most thoughtful – people in the world.
On “Giving Tuesday” two weeks ago, Facebook Founder Mark Zuckerberg and his wife, Priscilla Chan, announced the birth of their first child, a daughter Max. At the same time, in a 2,200-word letter to Max, they pledged that 99% of their Facebook stock will go to charitable purposes to promote equality and human potential. The shares, currently valued at $45 billion, would be one of the world’s largest gifts ever. It puts Zuckerberg on par with philanthropists Warren Buffet and Bill Gates, two of the world’s most generous givers.
Not surprisingly, an act of this magnitude elicits a lot of commentary and deservedly so. Bill and Melinda Gates said the gift is “an inspiration to us and the world.” Philanthropist and former New York City Mayor Michael Bloomberg said, “when it comes to philanthropy, 30 is the new 70.”Read More