Charles Spencer on inheritance and succession planning
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- čas přidán 17. 07. 2024
- Will you be the one who loses what nineteen generations have managed to maintain? And if you succeed: who will you pass it on to? England’s Ninth Earl Spencer, Charles Spencer, shares his principles.
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Charles Spencer is the Godson of Queen Elizabeth II and grew up with three elder sisters: Sarah, Jane and Diana who later became the Princess of Wales. After finishing his studies of Modern History at Magdalen College in Oxford, he worked as a reporter for the American television network NBC News for a decade. Moreover, he published history books and established himself as an editor. The father of four daughters and two sons from two previous marriages is married to Karen Gord, a Canadian philanthropist with whom he has one daughter, since 2011.
13 000 acres of land, a 100 000 square foot mansion, 90 rooms, 88 fireplaces and 650 precious paintings. Welcome to Althorp - home to the Spencer family since 1508. The estate is nestled in the beautiful English county Northamptonshire and comprises woodlands, farms and entire villages. Winston Churchill and Nelson Mandela were among the estate’s most prominent guests. Nineteen generations of one of England’s preeminent aristocratic families have lived in Althorp for more than 500 years. Each room has a story of its own.
"The story of the house is about the people. It is not so much about the antiques and china, but about the characters who added to it or experienced personal disasters. All parts of the human story are encapsulated in Althorp. If you have an ear for a good story, it is a privilege to live here,” says Charles Edward Maurice Spencer, who became the Ninth Earl Spencer in 1992, at the tender age of twenty-seven.
“The estate always had an extraordinary presence in my life,” he explains. “If you don’t look out, an inheritance and everything that comes with it may even dominate you. I remember feeling very insecure, even guilty, about it when I was a young boy. It’s as if you suffer from the impostor syndrome and constantly ask yourself “Am I going to make this a success or will I be the failure who lets it all slip out of the family’s hands?”.
Charles Spencer: “Whoever inherits or plays an active role in a family business carries the weight of expectations on their shoulders. It is expected that you will make your mark in some way. This is not easy to cope with. The lesson I have learned over the years is to focus on the purpose of the family business. Althorp, for example, was ultimately built to be a home. A renowned expert on historic English houses once told me that “Authenticity is good taste, and good taste is authenticity”. I deploy this motto for every decision that concerns the inheritance. Ask yourself: What are the authentic key values of our family business? Why was it set up? What was it meant to achieve? Can I still achieve it? and reconnect with that.”
“When you are lucky enough to inherit or own company shares, you must be able to take in the external perspective. The public might be critical of you. My advice is to listen to what they say. I, for instance, have learned a lot from letters that strangers sent to me. Embrace situations that might look like a trial, because they are not. Transform every situation into a learning opportunity.”
“I’m an editor, I’m a historian and I have written six books. When you are dealing with an inheritance: keep a passion of your own alive. It’s crucial. Don’t be overwhelmed by the responsibility. The healthier approach is to greet it, take it on, and make the most of it. I was able to express my creative side by publishing history books. Your ‘passion topic’ could be anything - but take ownership of something that has nothing to do with the inheritance and that nobody can take away from you.
#charlesspencer #royals #althorp
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Hello Charles Spencer and family,
What a wonderful introduction to your magnificent estate. I followed your sister Dianas life and saw snippets of her family during that time. I have seen the channel of your grandmorther Cynthia Spencer and i could see Diana which makes perfect sense. I think what you are doing with all of your endeavours now is truly amazing and it will keep Althorp going for another 500 years. Thankyou for sharing your life and your beautiful Althorp Estate to us all. I have just found this series and i am really loving them. I love Diana still to this day and will never forget her. I am happy she is buried at her ancestral home surrounded by her family. 🙏💝
I always adored Earl Spencer. He is so intelligent, has a quick wit and honored Diana through it all. Brothers and sisters have ups and downs yet he always focused on the up times. She would be proud of how he maintained a steady and firm hand with the media and others who tried to use her in death. He’s done such a wonderful job with Althorp during difficult times and has succeeded in keeping it alive with his long family history. A true gem to England! Many more years of happiness and success.
@Wanjiru King'ori errr...what?
He is taking care of his sister Father proud of him
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You clearly missed the part in the story when Diana asked hom if she could come back to live in the family home at Althorp after her divorce. Third wife, that's not the sign of a good husband
@@rogerfielding1117 You clearly have no idea what You're talking about. Only repeat what the media has told you. May I suggest you stop spreading lies and investigate what REALLY happened from the mouth of Earl Spencer himself. People like you is what's wrong with the world.
Well planned and presented, with love and respect for his position, country and family. As the Earl said, he has 7 children. Considering the size of the estate and complexity, he has quite a lot on his plate. King Charles can deal with his family.
I would love a Netflix docu series about the success of making Althorpe what it is today.
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Never happen spencer doesn't trust Netflix
Thank you Earl Spencer. I am an ardent supporter of Princess Diana and remember you at the royal wedding though I was a child.
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I love listen to you, I think you are a really
Wonderful story teller 💙
God bless you always earl of spencer
3rd marriage..7 children.
No wonder he's the big eugenic hick
I bet I'm more intelligent than him. I'll bet..anyone.
Rebekka Ribet - Bless him ? When Diana needed him most , he rejected her because it would disrupt his life with his young wife and children. She begged him to give her sanctuary at Althorp and he said NO.!
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Altho short, a very interesting piece. I have always followed the life of the current Earl with interest; he has occupied an interesting role in history for many reasons.
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@@meow-fm3qx Ohh thats so lovely!!! Thank you.
Absolutely remarkable an estate capacious as this imbued with tradition, architectonic feat, replete in antiques. In a very ritzy surroundings, yet is a total set up for arcadianism and rural delights.
You can tell he and Jane are brother and sister, very strong resemblance
brilliant earl...lovely interview...
You’re doing a great job!
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I am glad he was close to his sister. They say the 3rd is a charmer.
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Thank you
he wants his kids from the third marriage to inherit. So clear in the subtext of what he's saying...
What "kids"? He has one child from his third marriage - a daughter. He has two from his second marriage. The 15-year-old son he mentioned is from his second marriage.
So Nice.
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Hi. We are pleased for you all and your success.
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Wow! Wait a minute, if it's good enough for Earl Spencer ( I come from the Earl of Bantry Bay, (White family) in Ireland). Family counseling may be good enough for me.
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I always thought *primogenitor* was a bad idea! It should be the best person to continue the responsibilities and traditions of the estate! Youngest, eldest, middle child, boy or girl! Who has the passion, the will and the drive to continue the next 500 years of the house and lands and history?
my dream to come here...i luv diana
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Diana belonged to a rich family ❤️
Not rich, but aristocratic yes. She was a lady, lady Diana Spencer. Back when she married into the British Royal family her family didn’t exactly have money. They had the property, but it was kind of falling apart because they didn’t have money. Charles Spencer explains this in a documentary about the estate. Thanks to Diana marrying the royal family and Charles’s Spencer business acumine the family now has money again, but not when Diana was young.
@@selmahare They may not have been wealthy by aristocratic standards, but they certainly were compared to the general population of the United Kingdom (not to mention the world). The estate, including Althorp and Spencer House in London, represented considerable assets that could have been sold to generate substantial profit had the family decided to go that route (happily that did not happen).
I wonder why, in several interviews, he always shies away from saying outright that Louis will inherit it. Maybe he is considering his second son as the heir?
I wonder this too! I watched a documentary where he actually said "probably". I have a feeling he will hand it to his wife.
Sarah Kaip do you know him?
@@TheFilipinaWifeLife he wont it has to be one of his kids.
@@lovepower4899 Maybe the title will, but do you think the estate can be handed to his wife?
@Linda Taylor oh wow. Thanks!
Been there 😉
Too bad the music is too loud.
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A magnanimous individual.
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That would be funny in away if Harry went back to England and ran the estate someday.
It will never happened. It’s the law that the eldest son, in this case, Louie Spencer, Viscount Althorp, is the heir apparent to the earldom.
I wouldnt let Harry run any estate, he hasn't go the where withhall or the knowledge to run his own houshold.
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Harry would totally ruin it as he has ruined everything he has touched. He's too dim-witted to handle the job and would never be able to understand the meaning of tradition.
Why would Harry run the estate? The Earl has numerous kids from his three marriages.
PRÍNCIP GEORGE, IS VERY VERY SIMILITY WITH CONDE SPENSER. GEORGE IS SPENSER
Måske skulle I overveje at pigerne også kunne arve godset. Ligesom her i Danmark 🇩🇰
Which child is he referring to as “spending a lot of time in America”
his eldest son Louis
Aw!! The estate belongs to Kitty ...c'mon move with the times ...Xxx
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Harry looks like his Uncle Charles and his mum
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Harrys children are ALL SPENCER ❤
@@trishabidesi8604I don't think so.
лицемер и лгун. Диана была совершенно уверена, что Чарли не откажет ей в просьбе о временном пристанище в родном доме. Вначале 1993-го она написала ему об этом. А в ответ получила смету - сколько ей будет стоить проживание в поместье, и чего он ждет от нее помимо арендной платы. Однако, пока Диана переваривала содержание первого письма, через 2 недели пришло второе. Брат передумал. И ее присутствие в Гарден Хаус теперь рассматривалось как нежелательное. Но он, конечно, может помочь ей подыскать в аренду что-то другое. «Мне очень жаль, что я не смогу помочь сестре», - заканчивал послание Чарльз Спенсер. А потом и тиару, в которой Диана выходила замуж, потребовал вернуть. Козёл!
He has bad taste in art! He exploited Diana's possessions and the boys took them back from his side show.
He did it because he wanted later generations to see Lady Diana's personality, life and heritage through some of her personal belongings. He dedicated a whole museum to these items and he had Diana burried on the family estate to rest in peace while visitors can honour her.
@kris scarpetti That's why he had her buried on the property, also everyone has to understand that he said no when she needed him; now that she's gone he's quick to make money off of her death too. He just as bad as the media if not worse. I'm just calling it like it is
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Can't understand why he didn't let Diana come back home it's a big enough estate money makes u do funny things
@kris scarpetti Charles did NOT refuse to let her return. She picked out a house on the estate that she wanted but it was too close to the gate and could be seen by the public. He told her it would be a security nightmare if she had that one particular house but did tell her that she could have any other house on the estate. Diana always twisted things in order to play the victim!
He came off sounding as a poor little rich kid. Oh boo hoo. Poor me. I inherited a vast estate and had to give up my career, but just did what I was supposed to do. My sense of values was greater and my sense of sacrifice was greater than anything.
Where are you, Sir? Why haven't you said anything to help Harry & Meghan? Why are you silent too? Can't you say anything, anything to make Harry and Meghan feel your support? If you can't speak for one reason or another, then at least visit them, let people take photos of you looking happy around them ---images also "speak" loud. You mentioned during an interview that after pondering about who could deliver a Eulogy for Princess Diana, you came to the realization that it had to be you, Sir. Equally, now is the moment for you to show at least a gesture of "care" for your nephew and his family. Kindest regards, Lia.
He's godmother in the Queen so naturally he won't take sides in this situation. Even if he had a side, he wouldn't blab about it to the media. It should be a private family matter.
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You must be watching a different video because this was about him and his legacy.
This has nothing to do with Harry and Megan!!!!!! Both Harry and Megan lie so much that he probably doesn't want to say anything about them because there is nothing good about either one of them
Why would he support those twats