Nearly 90% of family businesses fail by the third generation. Not because of capital — but because of power, ego, and succession.

In this episode of Wealth Office, Michael Macfarlane speaks with William Louey, fourth-generation member of the family behind Kowloon Motor Bus, the transport system that carries millions of people across Hong Kong every day.

William inherited responsibility at just 19 — and made a decision most heirs never consider: he chose not to become CEO.

Instead, he focused on stewardship, professional management, and long-term impact. For more than 30 years, he has quietly funded education for underprivileged students through the William S.D. Louey Educational Foundation, creating a regenerative model where former scholars now fund scholars of their o ...