You can be aristrocratic about it, and tell your young scion to be a golf pro or something, and nod distractedly when he tells you he’d rather pursue the intellectual rewards of work in private equity. Sure, you welcome him back into the family firm at some point, and you hope he does well. But you don’t announce to the financial world that he’s next in line to run your centuries old empire until you’ve gotten some positive feedback, and at least until he’s reached the ripened old age of 32. Which is basically the only thing to do if your son is Mayer Amschel Rothschild’s great-great-great-great grandson: Read More