Life After Public Failure with Warwick Fairfax - Ep 130

Today we are going to talk about public mistakes: big, flagrant, public mistakes that might best be described as “failure” and earn the derision of the press and cost your family hundreds of millions of dollars.  Warwick Fairfax was the heir apparent to run John Fairfax, Ltd, an Australian newspaper and media conglomerate that ownedThe Sidney Morning Herald,The Agein Melbourne, and The Australian Financial Reviewand other valuable properties. In 1987, with corporate raiders lurking, Warwick took on massive leverage and launched a $2.25Billion bid to take control of the 150-year old company that had been founded by his great-great grandfather. Three years later, under Warwick’s leadership and due largely to the weight of the debt he sanctioned, the company went into receivership, bringing to an end his family’s media dynasty. In Warwick’s new book,Crucible Leadershiphe shares insights into the opulence of his youth, the pressure he felt to work in the family business, the lessons he learned when he botched things up, and — most importantly— how he survived and forgave himself.  Read more about Warwick and Crucible Leadership here.   **Please rate and review Crazy Money here.** Email Paul here  About Crazy Money: Unlike traditional personal finance shows like Dave Ramsey or Suze Orman, Crazy Money is not about how to make a million bucks, how to beat the market, or how to save money by switching cable providers. It is about deciding what role we want money to play in our lives and how we can use it to be our best selves. Topics covered include: Philosophy, Happiness, Contentment, Meaning, dreams, purpose, Success, Rat Race, Society, mental health, Buddhism, Stoicism, the hedonic treadmill, morality, Mid-Life Crisis, Business, Work, Careers, Authors, Books, Consumerism, Values, capitalism, economics, investing, saving, spending, personal finance, charity, philanthropy, altruism, affluence, wealth, wealth management, culture, society. Status. Iranian immigrant, Persian immigrant. Iran. Immigration Edited by Mike Carano Did you already rate and review Crazy Money? Yes? Okay, you can go now...