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PHOTO: JOHN NICHOLSON/STUFF Sir John Todd, former chairman of the Todd Corporation, received a knighthood in 2012 for his contributions to business. (File photo)
One of the easiest and fastest ways to come into money is to inherit it.
Almost every annual rich list features the same handful of families that have accumulated multi-generational wealth. But how does a small, mum and dad business grow into a dynasty of old money?
Business advisory Wolf & Fox director Toss Grumley said luck played a big part.
“You can bring a company up to a certain level of success but you just don’t know who the next generation is going to be. They might not be capable of handling it or they might be uninterested,” Grumley said.
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