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.
Follow Michael Sonnenfeldt on: linkedin.com/in/michael-sonnenfeldt-84072225/twitter.com/mwsonnenfeldtsonnenfeldt.comen.wikipedia.org/wiki/Michael_W._Sonnenfeldt
Timestamps
00:00:37: Introduction of Michael, Founder of Tiger21
00:01:53: Discussion on investors
00:02:05: Challenges of investing
00:02:39: Handling Success and Entrepreneurship
00:04:17: Discussion on Turning into an Investor after Being an Entrepreneur
00:06:44: Setting realistic passive returns
00:18:49: Discussion on Family Offices
00:23:49: Michael's personal motivations and the foundations of his success
00:24:55: Michael's ambition and challenges in the early years
00:27:37: Michael's personal experience of hearing loss and its impact on his life
00:28:53: Reflection on the role of luck in building businesses
00:29:04: Discussing the Role of Luck in Success
00:32:46: Overcoming Responsibility and Trauma After Business Success
00:34:46: Navigating Early Success and Future Ventures
00:39:46: Balancing Entrepreneurship and Introspection
00:43:59: The Intersection of Politics, Philanthropy, and Investment
00:49:02: Discovering Philanthropy
00:55:14: Importance of Travel and Cultural Awareness Post-Exit
00:56:22: Passion for Art, Photography and Fashion
00:58:00: Building a Large Photographic Archive
00:58:44: Handling Estates of Important Photographers after they Pass On
00:59:40: Estate Management of Deceased Photographers
01:00:20: Fulfillment in Life
01:01:41: Artwork and Business
01:02:37: Loneliness After Founders Exit
01:03:10: Isolation After Wealth Creation
01:05:10: Inherited Wealth Management
01:06:02: Shift in Wants After Selling Business
01:09:36: Turning Down Family Members' Investment Requests
01:12:07: Generosity Vs Enabling Bad Behavior
01:12:47: Parenting with Wealth
01:14:50: Responsibility Coupled with Inherited Wealth
01:15:14: Preparing Children for Inheritance
01:16:30: Selecting People to Surround Yourself With
01:20:15: Striving for a Life of Meaning and Purpose
01:24:50: Evolution of Tiger Organization and its impact
01:26:54: The Experiences and Learnings from a Long Term Marriage
