shauri yao!

In Kenya you don't have to wait that long.Look at Njenga Karume estate, everyone thought it would be a shining example/exception.Though a lot of it is stolen money.

Cornelius Vanderbilt once had more money from his transport empire than the US treasury! But his heirs squandered and squandered till there is no single millionaire Vanderbilt left

http://www.forbes.com/si...ost-their-crown-jewels/

Even in Kenya, who among us has not seen some super wealthy kid who just knows how to blow money fast while working at some arts and crafts job paying zero? These damning statistics are making me start to really rethink my plan of leaving the young ones with a big business to run.

I do not subscribe to this notion that since some big families have squandered their wealth we should all give up on our children/grandchildren

Do your best in this regard. Show them how to make it like you did and then leave them to do their thing after you're gone.

You cannot just give up just because the Karumes and Kirimas have inheritance caused family feuds.

Oooh and of course live well, you too deserve to enjoy like they will enjoy when you're gone

Giving up on your kids because you don;t know how they'll turn out to be is like giving up on investment because you're not assured it will yield a return

Prov 13

Hii maneno reminds me of a certain mzee who was a very rich man in my village and used to carry ngwaci(Sweet potatoes)everywhere.When he offered to buy you tea uitishe andazi, hio andazi wewe ndio utalipa. Alikwambia atakununulia chai sio andazi.He would get into his pocket anatoa ngwaci na anaikula.I think he is the reason so many hotels indicate that 'food from outside is not allowed here'.
His kids squandered all his wealth kwa pombe na malaya na sasa ni maskini hohehahe.

Mimi ndio niliamua nitatafuta kama nakula.Watoto watajitafutia yao.

The reverse is also true. It takes the 3rd generation to free poor families from the shackles of penury.

What is enlightenment?

That a grandchild thinks differently of his grandfather's sweat is an indictment to the grandfather that ancient priorities are not necessarily important.

In the African context:

The biggest worry about the wealthy - they worry about their families, their kids, generational wealth transfer.

Up to 70% of wealth lost in first generational wealth transfer; 90% of wealth lost in second transfer.

Kenya wealth mainly from: property, agriculture, infrastructure development, manufacturing

Interesting how some families elsewhere have been able to keep it going, forexample Aliko Dangote's family he being the great grandson of Al Hassan Dantata a "billionaire" of his time. May be what matters is not so much the money but the education (not schooling) about wealth passed to the children downstream.