Introduction
Fuelled by the wealth boom, cross border investments and
population growth in Asia, the number of HNWI and ultra HNWI has
skyrocketed. The region has a record 444 members according to the
2014 Forbes Billionaires List, led by three entrepreneurs from Hong
Kong: Li Ka-shing, Lui Che Woo and Lee Shau Kee. Rather than Japan
as the focus of attention, it's now mainland China out in front
in Asia with a record 152 members. India is the runner-up to China
and for the first time the top 100 are all billionaires, with
combined wealth of $346 billion, up more than a third from
2013.
There is a Chinese saying, "Fu Bu Guo San Da" which
means that the wealth of a family never lasts for more than three
generations. In the United States, there is a similar
aphorism—"Shirtsleeves to shirtsleeves in three
generations"— which describes the propensity of
family-owned enterprises to fail by the time the founder's
grandchildren have taken charge. Indeed a large
