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Entrepreneur and philanthropist Alexandre Mars wants to change the way in which people give. Wendy Schmidt, businesswoman and philanthropist, is funding environmental challenges through XPrize. And former “homeless billionaire” Nicolas Berggruen is looking to foster debate around issues of governance as well as philosophy and culture.
The era of passive money is over. In this, our inaugural edition dedicated to what we have termed “Ambitious Wealth”, we look at how the nature of wealth is evolving in the second decade of the 21st century. Gone are the days of simply writing a cheque or having a wing of a hospital named after you; rich people of the new generation want to see their money at work. They want to build the hospitals of the future.
Over the coming issues, we will look at the characters forming this band of new wealth. These are the entrepreneurs who are following in the footsteps of Larry Page and Sergey Brin who wrote in their original Google founders’ initial public offering letter that their shareholders should not be surprised if they placed “smaller bets in areas that might seem very speculative or even strange when compared to our current businesses”.
What are the global challenges that these ambitious individuals face — and where might they over-reach? Does the wealth management industry understand that money is getting younger and hungrier? And what are the drawbacks of making so much money at such a young age?
As ever, we value your views, particularly on the new direction, so please do drop me an email at the address below.