You May Not Have Heard of the Mogis

You may not have heard of the Mogis, a family, still together 17 generations later and owners of a long standing company.

You may not have heard of the Shigemitsu family in China who recently sold the family business after 40 generations. This family is still connected 

You may not have heard of the  Eddy family who is passing the mantel of leadership and connection between their third, fourth, and fifth generations conducting annual family meetings to which over 100 people attend.  

But…

You may have heard of the Vanderbilt family.

You may have heard of the Hutton family.

You may have heard of Huguette Clark. 

What separates these two groups of families?

I find that the first three families built a family connection by incorporating a system to build and sustain their legacy rather than relying on hope, avoidance or the next generation’s initiative to stay connected and perpetuate the “legacy” of the family. These three families understood the impact of not only their financial wealth on their families, but also the imapct of the family members’ psyche on the financial wealth.   Like a farmer who understands how to take care of their prized possession, their land, cultivating nurturing and caring caring for the soil and the bounty growing from it, the first three families have taken the roots of their family’s success and created depth into its breadth. They have understood the role of the family vision. They have understood the role of the governance and family council to develop leadership and to resolve family issues. They have understood the value of family philanthopry as a tool to build the family communication and trust.  These families have invested in the proper land managment consultation, tilling and harvest methods. These families, like the successful farmers who have taken care of their land, have transferred the family values and wealth to feed their families for generations to come, not to choke, but to grow and aid the future family. 

The  latter three families did not use the tools that keep a family strong and connected for generations to come . Like a farmer who can’t  decide what methods to use for their land’s upkeep and as a result watch their land go to seed and decay, these families watched their family’s financial and human capital wealth disappear within a few generations. Poof, all that was created was gone with no traces left, nada.

Is this what we want from the financial wealth we have amassed? Whether it took 4 decades or 4 years to build that wealth, the question still remains? Is this what we want to happen to our wealth-see a family torn apart with legal ranglings, distrust, mistrust, reliance on hope? For most families the answer is no. A family is too important to see divided due to money. Money is too hard to come by to see it squandered within one or two generations from its accumulation. 

Today we can not only prepare the money for the heirs, we can now prepare the heirs for their wealth, all the wealth. Families can now incorporate systems and tools to enrich the family keeping them connected with bountiful harvests for generations to come rather than see what the founding accumulators ravaged by abuse, misuse, squabbling. Today we can now model the Iroquois nation maxim which in essence says: before a decision is made we need to consider the impact it will make 7 generations from today.

Advertisements
Comments are closed.
%d bloggers like this: