Imagine being at a concert where the stage transforms into a heartfelt family gathering. That’s exactly what happened during Beyoncé’s last two tours. She turned her performances into a masterclass on bringing the next generation into the family business, blending her incredible talent with the values she holds dear.
During her Cowboy Carter tour, Beyoncé sang “Protector” while locking eyes with her youngest daughter, Rumi, who was on stage for the first time. Her eldest daughter, Blue Ivy, stood by, guiding her sister with a gentle hand. As Beyoncé sang about protection and independence, she was clearly doing more than just performing—she was teaching.
This moment was like a modern-day family meeting, complete with a living family mission statement, where values like protection, guidance and independence were displayed. By bringing her children into her world of music and performance, Beyoncé isn’t just nurturing their talents; she’s also showing them the power of family unity, hard work and using their voices for good.
Family Meetings: More Than a Gathering
While Beyoncé might hold her family meetings on stage, there’s a lot to be said for having regular family gatherings at home. Our research shows that these meetings can serve as a platform to discuss goals, tackle challenges and reinforce what your client’s family stands for. They help everyone feel connected and accountable, instilling in children the value of mutual respect and collaboration. By incorporating governance concepts like family meetings and mission statements into family dynamics, your clients can create a nurturing environment that empowers children to become responsible, compassionate and productive members of society.
Teaching Financial Responsibility
One common concern for many families, especially those with wealth or fame, is how to raise children who aren’t spoiled. Whether you’re a celebrity or not, the principles remain the same.
Serena Williams and her husband, Alexis Ohanian, are already teaching their 8-year-old daughter, Olympia, the ropes of money management. Instead of just handing her an allowance, they’ve set up a system where she earns $7 a week by doing chores like feeding her dog, tidying her clothes and making her bed. Alexis even drew up a real contract to make it official. Why? They want Olympia to understand the connection between hard work and earning money and the patience needed to save up for things she wants, like that coveted American Girl doll dress.
With Serena’s incredible work ethic both on and off the tennis court—and Alexis’s success as a co-founder of Reddit—Olympia has two entrepreneurial role models to guide her. Despite their success, neither Serena nor Alexis grew up with wealth, and they’re navigating how to raise a grounded child in a world of abundance.
Serena Williams (right) with her daughter Olympia | Tim Mosenfelder/FilmMagic/Getty Images
“We’re trying to create that flywheel between doing the work and getting the money and then understanding that there are things you could want,” Alexis noted in a podcast interview. “Neither Serena nor I grew up with wealth, so that’s the other weird thing. We’re both trying to navigate how to create the circumstances for her to be … a functional adult, while also having resources that we couldn’t have imagined.”
This story isn’t just about Olympia; it’s a reminder that it’s never too early—or too late—to teach kids about money and values. Many families struggle with revealing the magnitude of their wealth, fearing it might affect relationships or demotivate their children. But preparing the next generation for success involves more than just talking about money; it’s about sharing family values and expectations. Some families find that starting with an educational program for the younger generation is a great way to begin.
Conveying Shared Values
We often see this level of intentionality when families organize their wealth via a family office. The key is defining the values that will serve as the family’s mission statement, which is the glue that holds generations together. Icons like Beyoncé and Serena have already started down this path for their families—and provide a glimpse for others.
Your clients can begin by identifying what truly matters to their family. A family office is more than just managing wealth; it’s about having a shared purpose across generations. Families focused on lasting wealth realize that understanding their “why” and creating the right “value allocation” is as important as managing their assets.
Preserving family wealth requires preparation, thoughtfulness and open communication. Clients should ask themselves: What’s our purpose? What do we stand for? Who are we as a family? These questions help pinpoint the values that unite them. When a family is clear about its values, it sets the tone for how they think, feel and act, ensuring they stay connected through future changes.
Yet putting words to values is easier said than done. Families often benefit from a formal exercise to purposefully define their values in a hands-on way. By reflecting on their principles, they gain insight into what’s important to each family member. Conveying ideals can also help establish common ground and reveal disparities.
From Values to Action
Once your clients have identified and communicated their family’s values, they can weave them into their governance, philanthropy, estate planning and investment strategies. When we surveyed families with wealth ranging from $100 million to $4 billion, their biggest concern was ensuring the next generation doesn’t become “trust fund babies.” Yet, there’s also excitement about what the rising generation can achieve. And while athletes and entertainers often grab headlines, significant wealth can put any family in the spotlight, posing challenges for the next generation without proper guidance. By embracing these family office lessons, your clients can nurture the potential of future leaders in their family, just as Beyoncé and Serena are doing with their own rising stars.
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