Mike Boyd: Preserving family wealth across generations
We often hear stories about entrepreneurs making money, but how do you preserve it or more importantly, ensure your kids don’t waste it? As a parent, how do you ensure you don’t raise soft, entitled brats?
Multi-generational wealth doesn’t just happen – and nobody knows more about how to keep your money in the family than today’s guest.
I’m Jason Andrew, your host, and here, and this is podcast that strips down the numbers of business, investing, and wealth creation to help you become a better entrepreneur and investor, and ultimately build your net worth.
Today we’re joined by Mike Boyd. He’s the co-owner and CEO of the Vroom Group, a giant in the car rental space, and the founder of Prosura, a global insurance intermediary.
But he’s also the man behind Mudbrick Capital, a family holding company that builds, buys and operates businesses, and the host of a podcast, The Business of Family, that breaks down how successful families hold onto their wealth across generations.
In this episode, we discuss holding companies, long-term capital compounding, and strategies to manage intergenerational wealth. These are a few of my favorite things. It’s a ripper of a pod.
Links:
Subscribe to Stark Naked Numbers on Apple Podcasts, Spotify, Stitcher or wherever you get your pods.
Follow Mike Boyd on LinkedIn and at https://mikeboyd.com.au/.
Want the secrets the other accountants won’t give you? Follow Jason Andrew on LinkedIn.
To learn more about uncovering your financials, unlocking your cash and unleashing your cash, visit starknakednumbers.com.
Show Notes:
(06:28) - Finding your business niche.
(09:03) - The business of spin-off businesses.
(16:46) - Mike’s next disruptor.
(21:07) - The importance of defensible, logical niches.
(24:33) - Humble beginnings in business: Keg Hire Brisbane
(30:18) - The story behind Mike’s Vroom, Vroom, Vroom ownership.
(45:10) - Crafting a solid asset allocation strategy.
(49:35) - Mike’s journey into generational wealth education.
(01:00:00) - Mike’s take on family governance structures.
(01:02:05) - The family business: Perspectives from different cultures.
(01:07:19) - Navigating the silver spoon effect.
(01:09:47) - The art of generational storytelling and raising well-rounded children.
(01:13:12) - Mike’s take on giving kids pocket money.
(01:15:39) - '18 summers': An appreciation for the finite time spent with your children.
Stark Naked Numbers
Every number tells a story.
The problem is that for most people, your finances are an overwhelming, over-complicated mystery that you’ve just never had the time or the energy to unpack.
I’m here to help you with that.
Hi. I’m Jason Andrew – chartered accountant, business owner and financial voyeurist – and this is Stark Naked Numbers.
It’s the podcast that strips down the numbers of business, investing and wealth creation to help you become a better entrepreneur and a better investor, and ultimately build your net worth.
We’ll explain financial concepts with real, practical examples; we’ll break down successful – and unsuccessful – businesses to find out what makes them tick; we’ll get leading business people to share their strategies with us; and we’ll unpack high-profile deals and transactions, digging into the digits and details behind the headlines.
To make sure you don’t miss it, subscribe to Stark Naked Numbers on Apple Podcasts, Spotify, or your podcast app of choice now.
Want the secrets the other accountants won’t give you? Follow Jason Andrew on LinkedIn.
To learn more about uncovering your financials, unlocking your cash and unleashing your cash, visit starknakednumbers.com.
- No. of episodes: 17
- Latest episode: 2024-07-22
- Business Entrepreneurship Investing
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