This real estate billionaire prepared his son for succession by forcing him to work for a different boss: ‘You’re not going to work for me’

• Billionaire Jorge Perez His son John Paul was shocked He rejects a job in the family real estate company until he has experienced work elsewhere. After decades, the hard work resulted, and John Paul is now in charge of the CEO.

If it is a successful HBO drama succession The business world has learned anything, as you should never expect to deliver anything from your family’s business-especially one billion dollars. John Paul Perez learned this in the difficult way.

After graduating from college, the son of the billionaire real estate in Miami Khorkhi Perez asked his father when he was able to start working in the family group, but his response was not what he wanted to hear.

“You will not work for me,” George recalls. CNBC internal wealth.

While John Paul admitted that he was shocked from the rear, it may be not surprising that his father does not want to risk his reputation in the management of $ 60 billion of assets by employing his son – only because they are linked. Therefore, George took a simple but unconventional approach: he put his son’s capabilities to test by making him work with his close friend and commercial partner instead.

Billionaire children who had to earn their seats on the table

So much, instead of starting his career in the relevant group after graduating from Miami University, John Paul is going to New York to climb work.

Jorge told all his children that in order to work one day, they had to spend at least five years working in the difficult real estate market in New York and obtain a master’s degree from a first business school first.

Jorge’s strict policy was to ensure that the course of his career was not followed, after he saw his profit.

“I only told them because I succeeded in real estate, do not choose anything that you have not passionate about,” George said CNBC. “Because life is very difficult as it is, and if you wake up every day and do something just to earn money or not really like it, you will not work.”

George added: “I did not want the rest of the company to feel that it was brought because of its last name.”

John Paul at the end as an analyst in relevant companies, a company owned by a close friend and billionaire family, Stephen Ross (until 2022, Ross also has a minority stake in Perez). He later obtained a Master of Business Administration from the Kelog College for Management at North Western University – College of Business No. 3 in the country, according to luckCategories.

Corner office: CEO climbed to the summit

By 2012, John Paul gained sufficient experience (in his father’s eyes) to join the relevant group, but he was not immediately delivered a high -level portfolio; He started as a leasing leader and made his way.

But his cruel father loves his fruits in the end. John Paul is now the CEO of the family company, where he will manage it alongside his brother Nick. Their father, who will become an executive president, says that his children have finally obtained it.

George told South Florida Business Magazine.

And while the seizure of the family’s patriarch is not less than intimidation after forcing him to jump through the burning collars to prove himself to this position, John Paul appears for the new challenge.

He said in 2022: “I just want to produce – I don’t care who gets credit.”

luck I arrived at the relevant group and the Perez family for comment.

This story was originally shown on Fortune.com

2025-03-28 16:07:00