The largest wave of wealth transfer in modern economic history is in progress and the Financial Times consider the role that the new generation of heirs of large business groups is called upon to play.
Among the faces that stand out in the extensive tribute of the British newspaper is the Miltiades Marinakis, son of the shipowner and businessman Vangelis Marinakis.
Heading «Heirs appeared: meet the Billionaire Scions fighting to escape the family shadow», the publication presents new entrepreneurs from Generation Z and the millennials.
Entrepreneurs who are invited to continue the family business tradition, while proving that they can shape their own professional identity.
The Financial Times points out that over the next few decades the largest asset transfer recorded is expected to take place, with more than 60 trillion. to be estimated to change hands only in the US by 2048.
The role of Miltiades Marinakis
According to the report, 27-year-old Miltiades Marinakis acquires an increasingly active presence in his family's businesses. Financial Times reports that it participates in the day-to-day operation of Nottingham Forest, and assumes increased responsibilities also in the Capital Maritime shipping group, having also participated in the group's recent public registration.
At the same time, reference is made to his business activity in areas such as real estate, transport and technology, as well as the creation of the Greek electronic commerce platform Shopflix.
The paper presents him as a representative of a new generation of entrepreneurs who attempts to combine family heritage with new business initiatives.
Who else is on the list?
The Financial Times tribute still hosts:
-Zach Dell, son of Dell's founder, Michael Dell, who chose to create his own company in the field of battery technology.
- Halima, Fatima and Mariya Dangote, daughters of Africa's richest man, Aliko Dangote, who take on increasingly important roles in the Dangote group.
-Parth Jindal, representative of the Jindal industrial family, with intense activity in both India industry and sport.
Mario Ho, son of casino tycoon Stanley Ho, who has invested in esports and sports.
-Thlopie Motsepe, a member of the strong South African business family and a football player.
- Felipe Morenés Botín and Julia Puig Cabané, in the fields of investment and artificial intelligence in Spain.
The challenge of succession
The main conclusion of the tribute is that business succession does not depend solely on family property.
Experts who spoke to the Financial Times stress that the successful transition requires proper preparation, clear roles and personal skills, as new successors are asked to prove that they can be distinguished not only because of their name, but also through their own work.
