The succession crisis coming for family firms

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  The Economist.

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  Everything I've done in my life, I've done for my children.

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  Shows like Succession have drawn attention to the world of family business.

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  I have always wanted one of you kids to take over.

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  Family-run companies are a big deal.

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  Not a sideshow, but arguably capitalism's main act, accounting for around two-thirds of all businesses worldwide.

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  We're going to be the number one media conglomerate in the world.

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  The key is to act like a happy family.

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  But Logan Roy isn't alone in managing a succession crisis.

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  Across the globe, many businesses are preparing to hand over to the next generation.

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  At such a large scale, the success or failure of those handovers

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  will shape business culture across the world.

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  So today, just how big are the problems in these families?

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  And how should they navigate the handover to the generations of the future?

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  You're listening to Money Talks from The Economist,

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  our weekly podcast on the markets, the economy and the world of business.

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  In New York, I'm Mike Bird.

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  In Singapore, I'm Ethan Wu.

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  And in today's show, why a giant succession wave is coming for family businesses across the world.

• 01:43

  Hey Mike, it's very good to see you.

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