Family Office World Serial entrepreneur, philanthropist, and Co Founder of Cresset Eric Becker joins Ron Diamond on Family Office World Podcast EP. 003
Feb 28, 2023
Eric Becker, co-founder and co-chairman of Cresset, shares his journey from humble Baltimore beginnings to founding an award-winning multifamily office managing over $30 billion. He talks about the complexities of family offices, the innovative investment strategies that enhance wealth management, and the lessons learned from personal and professional challenges. Becker emphasizes the significance of supportive relationships, succession planning, and adapting to the evolving landscape of wealth management to ensure lasting family legacies.
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Early Entrepreneurial Internship
- At 19, Eric Becker cold-called entrepreneur Larry Levy with a greeting card business plan and got hired as an intern.
- Levy taught him to bring solutions, not excuses, shaping his problem-solving mindset early on.
First Venture with Brother
- Eric and his younger brother dropped out of college to start a digital medical records company backed by Blue Cross Blue Shield.
- Their startup became the first to adjudicate medical claims via computers, leading to a successful exit a year later.
Youthful Exit and Spending
- After selling their business, young Eric and his brother bought luxury cars instead of doing financial planning.
- They lacked access to good advice and learning, common among young entrepreneurs with early wealth.