Demystifying Families in Business

90% of the GDP in the world is created through family-owned businesses. Family businesses are frequently thought to be exclusively mom-and-pop, small businesses. Most fail to realize that Walmart, Fidelity, Cargill, Koch Industries, and Ford, to name a few, are all family-owned or controlled businesses. Family businesses can be private or public, sometimes with a dual-class stock structure. They can also be 100% family-owned or have outside investors. Family businesses come in all shapes and sizes, and they are here to stay globally, gaining power and influence by the day. In this module note, we provide an overview of the Demystifying Families in Business course, which explores each of the three Family organizations, (1) Family, (2) Operating Company, (3) Family Office, as well as what it takes to create an enduring Family legacy.