How the Handover from Boomers to Gen Z Will Revolutionize Capitalism
Author: Ken Costa
About the Book:
An insider's look into how Generation Z's focus on ethics, climate change and purpose will change capitalism forever.
In the next ten years there will be an unprecedented wealth transfer from the so-called 'baby boomer' generation to the young. Never before will so much money - in housing, land, stocks and cash - be shifted so suddenly from one generation to the next, and never before does the next generation feel so differently about the future of the planet and of capitalism.
Ken Costa works with this new generation and shows how environmental concerns and anxiety about equality and diversity are more than mere slogans; instead they are driving the future of the markets. So many issues stem from the reality of the financial gap between age groups - from cancel culture and fears about wokeness, to generation rent, protest movements and re-evaluations of history around subjects such as empire. Costa also shows how we can build a more inclusive, purposeful capitalism, which shifts focus away from the individual and more towards collaboration, compassion and community.
For readers of Rebecca Henderson's Reimagining Capitalism, and Rutger Bregman's Utopia for Realists, as well as business leaders and tech watchers, this is what the future of capitalism looks like, how our current systems may be upended, and above all how boomers must work with the invigorating and inspiring young, who see their mission not just to increase value for shareholders, but also to save the planet.
About the Author:
Ken Costa has been a leading global investment banker, author, philanthropist and thought leader for the last 40 years.
Born in South Africa, he was active in the anti-apartheid movement as a student leader in Johannesburg and went on to study law at Queens' College, Cambridge, thereafter becoming Chair of UBS Investment Bank (EMEA) and Lazard International. He is currently chairman of Helios Fairfax, the largest private equity group in Africa.
As a supporter of investment in the next generation he chairs Glorify, a meditation app. Alongside his finance career, Ken has been heavily involved in various not-for-profit organisations including the Advisory Board of the London Symphony Orchestra and Trustee of the Nelson Mandela's Children's Fund (UK).
Alongside his finance career, Ken has been heavily involved in various not-for-profit organisations including the Advisory Board of the London Symphony Orchestra and Trustee of the Nelson Mandela's Children's Fund (UK). In 2023, he was awarded the Canterbury Cross by the Archbishop of Canterbury for outstanding contributions to the Church of England. He created the highly successful Tick Tock Club for Great Ormond Street Hospital which has raised £50m for the hospital.
He is Emeritus Professor of Commerce at Gresham College and was coordinator of the City's response to the Make Poverty History Campaign. He has been a contributor to the Financial Times, the Wall Street Journal, The Times and the Daily Telegraph.
He is married to Dr Fiona Costa, with whom he has four adult children.