Dynastic Primogeniture Against Dilution

“But already the nearly dynastic principle wanted by the founders to avoid the dilution of capital was at work: a kind of primogeniture now existed in the family, allowing the transfer of the limited partnership shares to only one of the sons, to the detriment of all the others.”

“During the some one hundred and forty years over which the Lazard saga unfolds, many fortunes have been built in France. Brilliant industry captains emerged. None survived the test of time. Forgotten, Louis Renault. Squandered, the considerable fortunes of André Citroën or the perfumer François Coty.”