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Why Rich People Destroy Wealth In 3 Generations

And How The Smart Ones Don’t - With Alexander Hoare

15 September 2026 · 1hr 06min · The Impact Banker - For Good

In this episode, we sit down with Alexander Hoare, 12th-generation partner and former CEO of C. Hoare & Co., the UK’s oldest privately owned bank.

Alexander shares what nearly 350 years of family business can teach us about building for the long term, why bigger isn’t always better, and how strong relationships with customers and employees have helped the bank survive for generations.

We also explore what happens when making more money is no longer the goal, and why Alexander believes wealth ultimately needs meaning and purpose.

From family succession and philanthropy to legacy and the value of thinking in decades rather than quarters, this episode is a conversation about building an empire that lasts and figuring out what it’s all for.

— Chapters

00:00 How one family kept its wealth for 350 years 1:24

01:24 The secret to building a 350-year family business 2:58

04:22 How one generation nearly destroyed the family wealth 1:51

06:13 How to raise children around serious wealth 2:41

08:54 Why wealthy children still need ordinary jobs 4:29

13:23 The rules that protect a family business for generations 2:32

15:55 Why staying small can make your business stronger 2:16

18:11 How to build a business that lasts 300 years 7:55

26:06 Why they refuse some of the world’s richest clients 8:16

34:22 How much money is enough? 2:06

36:28 What should you actually do with your wealth? 1:56

38:24 What to do immediately after a major exit 4:08

42:32 How much money should you leave your children? 6:14

48:46 What to do with your money after an exit 6:53

55:39 The inheritance mistake wealthy families keep making 5:49

1:01:28 How to build a legacy that outlives you 4:32

In Alexander's words.

“The ones who are happiest are the ones who are doing something with some social benefit.”

On philanthropy

“Why would you bother taking on people you don’t wanna work with?”

On Customers

“If you’re planning to be around for the next 300 years, it’s as well to be in good relationships with your staff, your customers, and your community.”

On building a company that lasts

“There are good banks and there are good citizens. There are not many banks trying to be good citizens.”

On the bank's philosophy

Alexander Hoare

The Impact Banker - For Good

Website

Alexander Hoare is a 12th-generation partner and former CEO of C. Hoare & Co., the UK’s oldest privately owned bank, founded by his family in 1672.

He has spent nearly four decades in banking, helping carry forward a family business built around long-term thinking, strong relationships, and responsible stewardship.

He is also a philanthropist and author of The Impact Banker, with a particular interest in how business and wealth can be used to make a positive impact.

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