In this engaging discussion, Ken Costa, a prominent investment banker, author, and philanthropist, shares insights on the monumental generational wealth transfer in the wake of recent elections. He highlights the differences in perspectives between millennials, Gen Z, and baby boomers regarding economic policies. Ken also explores how figures like Elon Musk could reshape capitalism and the importance of fostering collaboration through 'co-destiny' among generations. Their conversation delves into the evolving financial landscape and the exciting opportunities it presents.
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insights INSIGHT
Gen Z and Capitalism
Gen Z's election results reflect a nuanced response, rejecting established institutions rather than capitalism itself.
They seek to change how capitalism works, prioritizing ethical concerns like sustainability but not through extensive government control.
insights INSIGHT
Changing Capitalism
Gen Z desires to change, not reject, capitalism, integrating ethical considerations like sustainability.
They favor smaller government and market-based solutions, rejecting rapid, disruptive change.
insights INSIGHT
Elon Musk's Influence
Elon Musk's entry into government offers a fresh perspective, potentially improving efficiency through technology.
Government's process-driven nature poses a challenge to Musk's business-minded approach.
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How the handover from Boomers to Gen Z will revolutionize capitalism
Ken Costa
Join Tom Wheelwright as he discovers how the next presidency may impact our country's wealth transfer and how capitalism may be revolutionized with his guest and author, Ken Costa.
Ken Costa has been a leading investment banker, author and philanthropist for the last 40 years. Born in South Africa, he was active in the anti-apartheid movement as a student leader in Johannesburg and went on to study law at Queens College, Cambridge, subsequently becoming Chair of UBS Investment Bank (EMEA) and Lazard International. He is currently chairman of Helios Fairfax, the largest private equity group in Africa. As a supporter of investment in the next generation he chairs Glorify, a meditation app. He is Emeritus Professor of Commerce at Gresham College and was coordinator of the City's response to the Make Poverty History Campaign. He has been a contributor to the Financial Times, the Wall Street Journal, The Times and the Daily Telegraph.
In this episode, learn why it is so critical for entrepreneurs to collaborate with other generations amidst this revolution in capitalism, the importance that "Co-Destiny" plays in all of our futures, and what steps to take as we watch the greatest wealth transfer unfold.
Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/
00:00 - Intro. 03:58 - The swing back to capitalism. 08:10 - Rejecting vs. Changing Capitalism 10:45 - Elon Musk: A Refreshing Shift in Efficiency & Technology 15:28 - Zillennials revolutionize capitalism toward purpose and away from "game"-ification. 20:15 - The Future of Decentralization 23:21 - Co-Destiny and how we bridge the gap. 27:40 - Steps to take toward collaboration.
Tom Wheelwright, #CPA is a Best-Selling Author, Entrepreneur & Worldwide Authority on Tax. https://wealthability.com/tom/
********************************** Resources ********************************** Tom’s Book: Tax-Free Wealth https://taxfreewealthbook.com Visit WealthAbility® https://wealthability.com/ Sign up for Tom’s Free Weekly Report https://wealthability.com/getreport/ Schedule A Call With My Team https://wealthability.com/schedulecall/
Website: https://kencosta.com/ Books: “The 100 Trillion Dollar Wealth Transfer: How the Handover from Boomers to Gen Z Will Revolutionize Capitalism”
DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.
The WealthAbility Show with Tom Wheelwright, CPA 