Donald Trump's Heir Problem

Forbes, Trump’s Real Heir Concerns, by Hani Sarji:

In a recent interview with Steve Forbes, Trump revealed his real heir concerns. These are very serious concerns over who will succeed his business:

Forbes: So, what do you do about succession? You have three up-and-comers.

Trump: Well, I do. And maybe five. I really have good children. . . . It’s a very tough decision, because you say, do you leave a bigger chunk to one? Do you break it up evenly? Do you do this? Do you do that? . . .

But it’s very complex. In a way, it’s the most complex thing. And you understand that through your family, and your children, and you know, what’s going to happen here and there. . . .

And I would say — and we could mention a couple of them — but I would say the most vicious fights I’ve ever seen, whether it’s Koch or Milstein or this or that, the most vicious fights are those inter-family fights, when it doesn’t work. So, it really is a very important decision, as to what happens when we’re gone.

Trump highlights a classic difficulty in dividing an estate among children: “do you leave a bigger chunk to one? Do you break it up evenly?” As he makes clear, there are no easy answers.