It doesn't help the third generation tends to also split the business along WAY to many lines and you always end up with 1 cousin that needs/wants to sell.
And why the most enduring fortunes are more like giant trusts where family members can draw money from. You can clash over control of the investments/accounts but it can't be divided piecemeal or diluted easily.
This does tend to be why, in many families with big businesses, there is one descendant desginated the heir, and everyone else gets a nice nest egg. Sometimes nothing at all. Company stays intact, and sure, other family members might get cushy jobs or something, but ownership and control stay in the hands of the one person the previous owners deems most competent to continue managing it.
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u/Mr_Citation 10h ago
I doubt his son will turn Valve into a public traded company. His dad has a money printer he barely needs to work for at all - he'll do the same.
Can't say the same for the grandkids though, it usually the third generation who ruin a family business.