‘Nobody prepared them’: The ultrawealthy worry wealth will dull their heirs’ ‘drive and desire’ and so some aren’t telling them how much there is

For the ultrawealthy, passing a fortune to the next generation is not limited to transferring assets. Families facing succession are also considering how much their heirs should know about the wealth they may eventually manage.

A long preparation process

Managing a large fortune can carry responsibilities that extend beyond receiving money. As wealthy families age, preparing younger generations to take on those responsibilities has become a growing concern.

The issue is especially sensitive when families worry that substantial inherited wealth could affect an heir’s motivation. Some ultrawealthy parents fear that knowing the full value of the family fortune might weaken what the source describes as an heir’s “drive and desire.”

Why disclosure has become a family decision

As a result, some families are choosing not to disclose the complete amount of wealth available to their children. The decision reflects the difficulty of balancing transparency with concerns about how a fortune may shape the next generation’s ambitions.

For these families, succession planning is therefore a broader process than handing over assets. It includes preparing heirs for the responsibility of managing family wealth while navigating questions about timing, disclosure and motivation.

The broader significance

The debate highlights a central challenge of generational wealth: preserving a fortune may depend not only on financial arrangements, but also on how the next generation is prepared to manage it.