I've tried going into business with family members, and it never worked out for the best. There was lots of pushing and pulling for control. Too many passive-aggressive comments. Generally, it led to chaos and bad feelings. So how do these massively rich families manage to run whole empires?
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I think most family businesses are controlled by one person, or two at most. Otherwise, it would be a huge mess. I don't really think I would want to start a business with my family members
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It's frustrating how relationships can change because of money and business. If it were somebody else, we could just write an official agreement and sue each other when one side didn't uphold their ends of the deal. The only way to be safe doing business with a family member is to do exactly that, as uncomfortable as it is.Comment
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I think many of the families were already wealthy, which they inherited from previous generations. Having money shields those people from worrying about the fallout, should things go wrong within their family business. Besides that, they do have a lot of drama. I don't know if you've ever paid attention to the Kardashians or followed the Trump empire, but both those families are filled with drama and discord. It's simply easier to make money when you already have money.Comment
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