Skip to Main Content
HBS Home
  • About
  • Academic Programs
  • Alumni
  • Faculty & Research
  • Baker Library
  • Giving
  • Harvard Business Review
  • Initiatives
  • News
  • Recruit
  • Map / Directions
Faculty & Research
  • Faculty
  • Research
  • Featured Topics
  • Academic Units
  • …→
  • Harvard Business School→
  • Faculty & Research→
Publications
Publications
  • October 2010 (Revised June 2021)
  • Case
  • HBS Case Collection

Bessemer Trust: Guardians of Capital

By: Tom Nicholas and David Chen
  • Format:Print
  • | Language:English
  • | Pages:20
ShareBar

Abstract

Henry Phipps, Jr. made his fortune in the steel industry alongside one of America's most celebrated entrepreneurs—Andrew Carnegie. His wealth was administered in the form of trusts, which he hoped would provide a stream of income for his family and their descendants into the future. Phipps had a clear vision for the intergenerational disposition of his assets, which required both an efficient organizational structure for the wealth to be administered and leadership on the part of family members to keep his original vision intact. Despite undergoing several significant legal and leadership changes, the trusts survived relatively intact and continued to achieve their express goal of preserving the capital Phipps created and providing income for Phipps family members.

Keywords

Wealth; Asset Management; Family Business; Business History; Income; Entrepreneurship; Capital; United States

Citation

Nicholas, Tom, and David Chen. "Bessemer Trust: Guardians of Capital." Harvard Business School Case 811-031, October 2010. (Revised June 2021.)
  • Educators
  • Purchase

About The Author

Tom Nicholas

Entrepreneurial Management
→More Publications

Related Work

    • October 2010 (Revised June 2021)
    • Faculty Research

    Bessemer Trust: Guardians of Capital

    By: Tom Nicholas and David Chen
Related Work
  • Bessemer Trust: Guardians of Capital By: Tom Nicholas and David Chen
ǁ
Campus Map
Harvard Business School
Soldiers Field
Boston, MA 02163
→Map & Directions
→More Contact Information
  • Make a Gift
  • Site Map
  • Jobs
  • Harvard University
  • Trademarks
  • Policies
  • Accessibility
  • Digital Accessibility
Copyright © President & Fellows of Harvard College