SEPT 19 — As wealthy entrepreneurs in Singapore grow older, they are looking more at how to make sure their wealth endures long after they are gone. Historically, though, the odds are not in their favour.
“Fu bu guo san dai” — as the Chinese saying goes, wealth does not pass through three generations. After the first generation makes the money, the second enjoys it and the third loses it.
Knowing intuitively that the odds of success are not high, many patriarchs have sought to instil their first-generation drive into their children or grandchildren by bringing them into the family business and training them from the ground floor on up. Full story
