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Published by: International Institute for Management Development (IMD)
Originally published in: 2007
Version: 10.08.2007
Length: 7 pages
Data source: Field research

Abstract

Raymundo Leal, a self-made Mexican businessman, turned 50 in 1994. The first 25 years of his life were spent educating himself and getting married. The next 25 were devoted to building a business and raising a family. Would he spend the last part of his life as he had the previous 25 years? Should he continue accumulating money that, according to his lifestyle, he would never use? He asked himself - is this all there is to life? Would inheriting money be the best legacy he could pass along to his children? Perhaps leaving the leadership of his company and devoting himself to Mexico's poor with smart, effective charitable giving would be the best use of his time. There were serious ramifications to such radical change. Who would lead the business if he were to devote himself to philanthropy? How would his family react to this shift in priorities and the resulting financial implications?
Location:
Other setting(s):
1990-2007

About

Abstract

Raymundo Leal, a self-made Mexican businessman, turned 50 in 1994. The first 25 years of his life were spent educating himself and getting married. The next 25 were devoted to building a business and raising a family. Would he spend the last part of his life as he had the previous 25 years? Should he continue accumulating money that, according to his lifestyle, he would never use? He asked himself - is this all there is to life? Would inheriting money be the best legacy he could pass along to his children? Perhaps leaving the leadership of his company and devoting himself to Mexico's poor with smart, effective charitable giving would be the best use of his time. There were serious ramifications to such radical change. Who would lead the business if he were to devote himself to philanthropy? How would his family react to this shift in priorities and the resulting financial implications?

Settings

Location:
Other setting(s):
1990-2007

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