If you enjoyed this podcast, I recommend you check out my first conversation with Michia Rohrssen, which you can find here

My guest today - Michael Sonnenfeldt - is the source of ultimate wisdom on the life after a liquidity event. He has build and sold multiple companies and is the celebrity founder of TIGER 21, an exclusive global community of ultra-high-net-worth investors. Michael creates exquisite art, collects photography and runs a venture philanthropy firm focusing on climate change. We discuss the importance of post-exit introspection, how a liquidity event teaches us humility, rules of prudent spending, capital preservation vs angel investing, and how to decide whether to start a new business or focus on passive investing.

• Michael Sonnenfeldt
• “A new business or passive investing?”
• How much of my exit money can I spend a year? The famous 2% rule vs the Barbell investing strategy.
• “The worst training ground for a successful investor is being a successful entrepreneur.”
• Advice to the recently exited: Take 3-4 years to fully invest
• Exited founders vs wealth managers
• Angel investing
• Do I need a family office?
• “Luck favours those who are prepared and willing to take the risk.”
• How to turn creativity into financial success. Right team + luck.
• Serial entrepreneur or a one-trick-pony?
• Why taking time to think after a business sale is vital.
• Finding a new purpose after your liquidity event. Gratitude.
• Giving back through business. “Climate portfolio.”
• Why impact investing may be unsustainable. Your employees’ needs vs your purpose. We do not accept sub-market returns in venture philanthropy.
• Finding new purpose and identity. “My father was the chief interpreter of the Nuremberg trial at the age of 23.” “Identity of someone giving back.”
• Charity vs philanthropy. Ego vs necessity
• International travel as a form of post-exit introspection
• 10,000 hours and passion for photography. Great photographers’ estates.
• Source of fulfilment
• Art as business
• Wealth can be very isolating. “Think Bigger” Book
• How to be sufficiently discerning.
• Buying time and happiness with money
• How to say no to money requests? Envy blindness
• “If my success is luck do I deserve and shall I keep it?”
• How to NOT spoil children with wealth
• Prepping children for wealth and inheritance
• If you are not discerning about people you’ll end up hanging out with a bunch of creeps!
• Meaning and purpose. Meditation
• How Tiger 21 was created. The power of peers to learn from each other.
• What I’ve learnt from my 47-year-old marriage and raising 4 kids
• “He gave a damn!”
  Follow Michael Sonnenfeldt on: linkedin.com/in/michael-sonnenfeldt-84072225/twitter.com/mwsonnenfeldtsonnenfeldt.comen.wikipedia.org/wiki/Michael_W._Sonnenfeldt