Billionaire tycoon reveals why he refused to hire his own son: ‘You’re not going to…’ | Trending
Apr 01, 2025 06:16 PM Miami real estate tycoon Jorge Perez urged his son Jon Paul to earn his position gaining experience elsewhere. Miami real estate tycoon Jorge Perez had a shocking response to his son’s question about when he could join the family company. “You’re not going to work for me,” he sternly said. His son, an heir apparent to the Related Group was taken aback the response. The billionaire revealed he wanted his children to earn their seat at the table.(Representational) Jorge Perez told CNBC’s Inside Wealth that he did not want to risk his reputation managing their $60 billion asset hiring his son Jon Paul—just because they’re related. For his son Jon Paul, the road to success was an unconventional one as his father wanted to put his abilities to the test making him work for his business partner instead. Earn your placeAfter he graduated from the University of Miami, Jon Paul was sent off to New York to make a mark on his own without any help from his dad and he was not the only one. Jorge Perez revealed that he told all of his children that if they want to work for him, they had to spend at least five years working in the tough New York real estate market and get a master’s degree from a top business school first. “I told them just because I’ve been successful in real estate, don’t pick something you don’t have a passion for. Because life is very tough the way it is and if you wake up every day and do something just for making money or that you don’t really like, it’s not going to work,” he told CNBC. His son agreed to his demands and started working as an analyst in New York and obtained an MBA from a top business school in the country. But even when he was allowed to join his family company, Jon Paul had to climb through the ranks before being appointed as CEO. After his two sons worked for over a decade to show their worth to their father, he said he was finally ready to step down and let them take over the family business. (Also read: ‘Ridiculous and unfair reason’: Laid-off Zomato workers lash out at company) News / Trending / Billionaire tycoon reveals why he refused to hire his own son: ‘You’re not going to…’ See Less
