Jim, aged 66, is the founding entrepreneur of a successful manufacturing company, with annual sales of $200 million, and has gradually transferred ownership of the business to the second generation. All five siblings, each employed in the company, will eventually own 20% of the business. Apart from their comfortable home, local farmland and $500,000 invested conservatively, all the assets of Jim and his wife Beth have been re-invested in JB Enterprises.
Founded in 1947 with the $15,000 George had received from his first patent, the business had, by 2001, changed an entire farming industry. Located in a small rural American mid-western town, the company was a local showcase and object of pride.
Red Rocket is a $150 million manufacturing and distribution company located on the outskirts of a major American city. The company’s focus is the manufacturing and distribution of children’s toy cars, trucks, ambulances, and helicopters etc.
The Builder family is a large clan that is well-known in the Middle East as successful experts in resort development and management. The patriarch of the family, Ahmet Builder, is a classic example of a ‘self-made’ man.
Henry bought Able & Sons Construction 30 years ago after his father died unexpectedly of a heart attack. Henry grew his father’s business to $80 million in annual revenues, expanding into building churches and government buildings.
Both sides of a three-generation manufacturing business have been to see the corporate attorney to end their business arrangement. Neither branch of the family wanted to be tied to the other any longer financially.