90% Family Businesses Are "Richer Than Three Generations".
After 30 years of reform and opening up, there is an undeniable fact that, apart from a few people or special families and special geographical personnel, the economic situation of the Chinese people has changed dramatically over the past 30 years - people are getting richer, though the degree of affluence is different.
At the same time, many people of insight have also discovered and raised a very acute question: how can Chinese people jump out of the strange circle of "rich three generation" after rich? The history of family prosperity and decline at all times and in all over the world shows that no matter what way a family can get rich, there are few more than three generations to maintain prosperity. So the world summed up a law called "rich but three generation".
Some scholars have pointed out that China's history is continuous, and there is no wealth family that can still inherit more than 100 years and is still prominent in today's society.
Facts tell us heartily that wealthy families are mostly "black sheep" and "poor grandchildren".
Throughout ancient and modern times, rich families, families and enterprises "rich in the three generation" phenomenon is very common, and even has a certain universality.
Over 95% of China's private entrepreneurs can't get rid of the "rich but three generation" fatalism. Since the reform and opening up, China's private entrepreneurs have exceeded 3 million. Nowadays, many entrepreneurs of the first generation of private enterprises are facing retirement. However, the inheritance of business wealth and the worldwide business difficulties of intergenerational pmission have not been well solved so far.
According to the survey data, more than 95% of Chinese private entrepreneurs can not get rid of the fate of "rich but three generation" because they can not find qualified successors.
At present, only about 10% of the children of the elite families in the country inherit the good qualities of their parents and become positive, diligent and eager to learn.
China's private enterprises have 9 failures per minute and less than 10% of them can survive for more than 3 years.
For many wealthy families, families and enterprises, some of them are not rich but three generations, but can be more than two generations.
There are many "two ancestor" phenomena in the Pearl River Delta, which is a typical example.
The two ancestor is Guangdong dialect, meaning "the black sheep".
It is said that his father worked hard to start his own business and bought the farmland to build a large courtyard. However, his children failed to win the battle and became a "black sheep" in their pursuit of enjoyment and excitement.
In Hongkong, people from all walks of life are not optimistic about the inheritance of Hongkong family businesses. A Chinese University Hong Kong study confirms that Hongkong family businesses are "rich in three generations".
By investigating the stock prices of the 38 listed family businesses in Hongkong, which have undergone wealth replacement over the past 15 years, these enterprises eliminated 8 market factors (such as financial turmoil) in the 8 years after the last generation of leaders handed over power, and the average rate of return on stocks was 8.
The "rich three generation" is not Chinese characteristics. The global family businesses are generally faced with the problem of "poor grandchildren". The survey shows that the average life expectancy of family businesses is only 24 years in the whole world, and 30% of family businesses can be passed on to second generations. Only 10% of them can live third generations and the rate of elimination is as high as 90%.
"Rich three generation" is not Chinese characteristics. The global family businesses are generally faced with the problem of "poor grandchildren".
In the United States, only 30% of family businesses exist in the second generation, and only 12% exist in the third generation, and 3% remain in the fourth generation and four generations.
The Portuguese have the saying that "rich peasants, noble sons, poor grandsons"; Spanish also have "hotel owner, son rich, and grandson beg"; the German uses three words "create, inherit and destroy" to represent the fate of the three generation.
The British times has surveyed the world's super rich over the past 20 years, and found that ten of seven or eight failed to defend their wealth. The main reason was either blind investment or mismanagement.
Through studying and analyzing the list of the world's 400 richest people in Forbes in the past 20 years, JP Morgan investment bank found that only 5 of the super rich who ranked on every 5 list could stand on the list for 20 years, and 80% of the rich were eliminated.
It is obvious that the phenomenon of "rich only three generations" is universal and deserves in-depth discussion.
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