No inheritance for you, kids... why Ireland’s super-rich won’t be keeping it in the family ?
More and more of our wealthiest entrepreneurs intend to break the ‘third-generation’ curse
'Leave the children enough so that they can do anything, but not enough that they can do nothing,' Warren Buffett once said. Photo: GettyAidan (not his real name) is a serial entrepreneur who took over an ailing family business as a teenager and has since made millions of his own from scaling up businesses and exiting them. But he’s determined that his three children won’t inherit a business or wealth that they can’t handle.“I was involved in a family business and it’s just tortuous,” he says. “I’m still in my 60s and have three teenagers but they will get nothing until they’re around 30. They can have as much education as they want and when they turn 30, they’ll each get half a million if I’m not around. They’ll get a modest three-bed semi-d mortgage-free, and if they get married, the wedding will be paid for.
