Raising Stars: Family Office Lessons from Beyoncé and Serena

Imagine being at a concert where the stage transforms into a heartfelt family gathering. That’s exactly what happened during Beyoncé's last two tours. She turned her performances into a masterclass on bringing the next generation into the family business, blending her incredible talent with the values she holds dear.

Picture this: during her Cowboy Carter tour, Beyoncé sang “Protector” while locking eyes with her youngest daughter, Rumi, who was on stage for the first time. Her eldest daughter, Blue, stood by, guiding her sister with a gentle hand. As Beyoncé sang about protection and independence, it was clear she was doing more than just performing—she was teaching.

This moment was like a modern-day family meeting, complete with a living family mission statement, where values like protection, guidance, and independence were all on display. By bringing her children into her world of music and performance, Beyoncé is not just nurturing their talents; she’s showing them the power of family unity, hard work, and using their voices for good.

When Family Meetings Are More than Just a Gathering

While Beyoncé might hold her family meetings on stage, there’s a lot to be said for having regular family gatherings at home. Our research shows that these meetings can serve as a platform to discuss goals, tackle challenges, and reinforce what your family stands for. They help everyone feel connected and accountable, instilling in children the value of mutual respect and collaboration. By incorporating governance concepts like family meetings and mission statements into family dynamics, you can create a nurturing environment that empowers children to become responsible, compassionate, and productive members of society.

Teaching Financial Responsibility: The Serena and Alexis Way

One common concern for many families, especially those with wealth or fame: how do you raise children who aren’t spoiled? Whether you’re a celebrity or not, the principles remain the same.

Serena Williams and her husband, Alexis Ohanian, are already teaching their 8-year-old daughter, Olympia, the ropes of money management. Instead of just handing her an allowance, they’ve set up a system where she earns $7 a week by doing chores like feeding her dog, tidying her clothes, and making her bed. Alexis even drew up a real contract to make it official. Why? They want Olympia to understand the connection between hard work and earning money, and the patience needed to save up for things she wants, like that coveted American Girl doll dress.

With Serena’s incredible work ethic both on and off the tennis court—and Alexis’s success as a co-founder of Reddit—Olympia has two entrepreneurial role models to guide her. Despite their success, neither Serena nor Alexis grew up with wealth, and they’re navigating how to raise a grounded child in a world of abundance. “We’re trying to create that flywheel between doing the work and getting the money and then understanding that there are things you could want,” Ohanian noted in a podcast interview. “Neither Serena nor I grew up with wealth, so that’s the other weird thing. We’re both trying to navigate how to create the circumstances for her to be…a functional adult, while also having resources that we couldn’t have imagined.”¹

This story isn’t just about Olympia; it’s a reminder that it’s never too early—or too late—to start teaching kids about money and values. Many families struggle with revealing the magnitude of their wealth, fearing it might affect relationships or demotivate their children. But preparing the next generation for success involves more than just talking about money; it’s about sharing family values and expectations. Some families find that starting with an educational program for the younger generation is a great way to begin.

How Family Offices Convey Shared Values

We often see this level of intentionality when families organize their wealth via a family office. The key is to define the values that will serve as your family’s mission statement, acting as the glue that holds generations together. Icons like Beyoncé and Serena have already started down this path for their families—an provide a glimpse for others.

Begin by identifying what truly matters to your family. A family office is more than just managing wealth; it’s about having a shared purpose across generations. Families focused on lasting wealth realize that understanding their “why” and creating the right “value allocation” is as important as managing their assets.

Preserving family wealth requires preparation, thoughtfulness, and open communication. Ask yourselves: What is our purpose? What do we stand for? Who are we as a family? These questions help pinpoint the values that unite you. When a family is clear about their values, it sets the tone for how they think, feel, and act, ensuring they stay connected through future changes.

Yet putting words to values is easier said than done. Families often benefit from a formal exercise to purposefully define their values in a hands-on way. By reflecting on their principles, they gain insight into what’s important to each family member. Conveying ideals can also help establish common ground and reveal disparities.

From Values to Action

Once you’ve identified and communicated your family’s values, you can weave them into your governance, philanthropy, estate planning, and investment strategies. When we surveyed families with wealth ranging from $100 million to $4 billion, their biggest concern was ensuring the next generation doesn’t become “trust fund babies.” Yet, there’s also excitement about what the rising generation can achieve. And while athletes and entertainers often grab headlines, significant wealth can put any family in the spotlight, posing challenges for the next generation without proper guidance. By embracing these family office lessons, you too can nurture the potential of future leaders in your family, just as Beyoncé and Serena are doing with their own rising stars.