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The Families Giving Away Their Children’s Inheritance To Charity

by campdenfb.com posted 2months ago 25 views
In the past, children of ultra-wealthy families could expect a substantial part of their parent’s fortune to eventually pass to them. Now 21st century attitudes to wealth are changing. A generous inheritance has never been a possibility for billionaire Hong Kong property mogul Wing-Ching Shih’s three children. Wing-Ching’s 30-year-old son Alex Shih revealed in a recent media interview he will see little of his father’s wealth after the 70-year-old decided to give away his entire 45% stake in the family business, estimated to be worth about $400 million, to charity.

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