ACG have produced this Anglo American history as a case study in corporate governance at the 100 year-old Oppenheimer family mining and commodities business. You can download it free at the bottom of the page.
Building the kingdom
This is a story which would seem to follow the traditional “clogs to clogs in three generations” except that the third generation is said to be worth c$7 billion. However, it does appear that the entrepreneurial gene in the founding family lost its potency in that third generation.
It’s worth looking at the earlier history of AngloAmerican because it illustrates, albeit on a grand scale, what can happen when a family controlled business passes into public ownership and employs professional managers whose approach to running the business…