A dozen college students and twenty-somethings with family fortunes totaling $7 billion gathered at an Austin Airbnb for a three-day retreat on preserving wealth. The session, run by wealth coach Michael Cole, tackled a fundamental question: why parents insist their children work despite not needing the money.

Participants offered quick responses: "Their money isn't my money," "To learn the value of a dollar," and "It gives you purpose." Cole, founder of R360—a peer-membership group for families worth at least $100 million—facilitated the discussion about maintaining generational wealth.

The exclusive gathering reflects a growing industry focused on preparing inheritors for their future responsibilities. Wealth managers and family offices increasingly recognize that technical investment knowledge alone won't preserve fortunes. These young heirs need psychological preparation and practical skills to handle massive inheritances without squandering them.

Such retreats demonstrate how the ultra-wealthy are institutionalizing succession planning beyond traditional finance. As family offices compete for next-generation clients, experiential education becomes a differentiator in retaining multi-billion-dollar portfolios.