Ten top AFR Magazine reads in 2022

. He has worked with 350 wealthy families in the past 15 years as executive chairman of PwC’s Family Business Advisory and more recently his Pointmade consultancy.

Looking back at that cover story, 27 years later, some hard conclusions can be drawn from the changing of the guard that has followed. The first is that managing family succession is hard. It turns out that every family dynasty, even the fondest, the closest and the most enduring, carries a little red button somewhere, labelled Tactical Nuclear Device. It’s the button of no return, which marks the point when all sides lawyer up and threaten court action that so often blows up the family.Michael Dunworth. In January he agreed to sell Wyre, the start-up he co-founded, for $US1.5 billion, earning him $267 million. In August, the deal fell through.

In January Michael Dunworth agreed to sell Wyre, the start-up he co-founded, for $US1.5 billion. The deal would have earned him $267 million. And then in August, it got pulled. “It sucks, but tech businesses are entirely beholden to changes in market sentiment,” says Dunworth. “I’ve known that all along.” ⁠In September Tim Doyle discovered the $15 million bridging loan he’d hoped to secure from investors for his healthcare start-up, Eucalyptus, had fallen through.

Source: News Formal (newsformal.com)

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