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
