Rise of the Millenials - Jacoline Loewen, Speaker at Queens Business Entrepreneurs Association

Jacoline Loewen

Billionaires motivated not only by wealth creation

Working at UBS which provides private wealth management to high net worth people and then also the ultra high net worth, I get asked a great deal about the wealthy. Are they nice? Are they mean? Do they have good family relationships? How do they treat their spouse? How do they spend their money? Did they inherit their money? How did they make it?

Jacoline Loewen at The Business Transitions Forum

When I read this article on the wealthy from John Mathews, head of UBS private wealth, it covered many of the insights that are well worth noting. I thought I would share an excerpt of it.

"Whenever we meet our clients we are struck by how normal they are. Yes they are usually intensely focused, bright and passionate, particularly when it comes to their business. But they are also often quiet, thoughtful and preoccupied as much by the responsibilities of great wealth as by its benefits."

"That sense of the 'burden of wealth' is having some interesting effects. The new generation of billionaires in particular is motivated not only by wealth creation but a broader sense of purpose. This means even more commitment to improving living standards, job creation, and providing broader access to cultural capital. As governments around the world cut back on spending, there is a growing feeling that the private sector must play a bigger role. "

  Below is a brief list of the different activities and you can read the full report here.

1. Arts and culture

Billionaires are creating alternative legacies through their cultural pursuits. Private museums are growing in number and public museums are receiving more funding, increasing the accessibility of art to the public. Maja Oeri, a Swiss pharmaceuticals heiress, illustrated the trend when she donated a large proportion of the funds for the 2016 extension of the Kunstmuseum Basel, the city's municipal art collection. Similar initiatives have proven to be equally successful: US museums like the MoMA in New York and SFMOMA thrive on support from billionaires.

2. Sports

The ultrawealthy are also helping sports clubs to become more sustainable, helping them to deliver associated benefits to the communities of which they are a part. For example, Jack Ma's Alibaba has invested in Evergrande Taobao FC, recruiting international players and coaches, building one of the world's biggest football schools, dominating the league and becoming the first Chinese winners of the Asian Champions League in 2013.

3. Philanthropy

Networks and communities are playing an increasingly important part in enabling this sort of purpose-driven activity. A prominent example is The Giving Pledge. At the end of May 2017, 160 signatories, including some of the world's wealthiest individuals and families, had committed more than half their wealth to philanthropy.

4. Impact investing

Impact investing is also growing fast. The Rise Fund, for example, aims to balance competitive financial returns with positive societal outcomes. Its Founders Board includes billionaire entrepreneurs, rock stars, royalty.

5. Family

Looking ahead, the global impact of billionaire wealth is set to grow even further, with an estimated USD2.4 trillion of billionaire wealth expected to be transferred in the next two decades.

For Every Business Owner - The Business Transition Forum in Calgary

Last year, the Calgary Business Transition Forum event was packed with speakers sharing great stories. I heard fresh content from seasoned professionals too and got to ask many questions.

The networking was outstanding.
 
Register at: www.businesstransitionsforum.com/Calgary
 

The Business Transitions Forum, Calgary edition, happens at the Westin in Calgary on November 8th. I am looking forward to this year. Dave Mason Adam Mallon David Tyldesley Mark Stephenson Lisa Shepherd

Jacoline Loewen at the Business Transition Forum, Calgary

Preparing the Next Generation

It is exciting to share the limited seat offerings in our November 20 - 24, 2017  "Preparing the Next Generation" program in Toronto, ON. The Institute of Family Enterprise Stewards has recently launched and represents a collaboration of thought leaders, families and academic Institutions across CDA. The Institute and the initiatives it supports are without borders and we are actively exploring its expansion beyond CDA in 2018.

One of the most dynamic speakers and consultant on family business- David Simpson - will be co-facilitating the program with Susan Fulford, and as a duo, they offer expertise in innovation & entrepreneurship.

 Content:
The program covers business and financial literacy, communications, trust, values, purpose and clarity of Role & Accountability in families of business & wealth. We also include a focus on conflict & dispute resolution, risk management, negotiations as a life skill and Global Best Practices for building multi generational legacies. Case studies are used liberally. The family  guest speakers we invite in - like Mitzi Perdue, are simply the icing on the cake, and are a valued highlight.

There will be an evening reception.
 
Please call with questions,
Thank you,

Susan Fulford, M.B.A. LL.B. FEA
Dynamic Legacy Inc.
P: (416) 518 8080 | 

www.dynamiclegacy.com

 

Calgary deals to be done at the Business Transition Forum

If you are seeking to speed up your opportunity to network with those interested in the sale of businesses, check out The Business Transition Forum. The next session is in Calgary on November 8th and then Vancouver on the following week.