Taking investment risk through financial assets instead of the business itself is often a safer approach, albeit not as remunerative at times

June 07, 2024 / 09:38 AM IST

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Creating wealth is hard work. But if you create enough in one lifetime, it can last for generations. Les Schwab, an American tyre company that started with a few thousand dollars invested by its founder, was sold by the third generation in 2020 for an unconfirmed, estimated $3 billion. The company was started by its founder of the same name; he was extremely poor, with an addict father and a mother who died early. Yet he created