- Billy Busch is heir to the billion-dollar fortune of Anheuser-Busch.
- He said he learned it through manual labor on his family’s farm full of exotic animals.
- His inheritance plan is designed to avoid family feuds like the one his siblings were embroiled in.
This as told essay is based on a conversation with Billy Busch, founder of the Busch Family brewery and distilling company and author of “Family Reins: The Extraordinary Rise and Epic Fall of an American Dynasty.” It has been edited for length and clarity.
I learned the value of hard work on my parents’ farm. But their farm was not a typical operation. Grant’s Farm was a vast estate where my family had lived since 1903. In 1954, my parents opened it to the public to promote their brands.
The farm had elephants, monkeys and almost every other animal you can think of. It was also home to the famous Clydesdale horses, which became intertwined with Budweiser thanks to my father’s brilliant marketing.
My siblings and I were tasked with maintaining the farm and keeping it beautiful so that the public, when they passed by, would see a place that was well cared for. On a normal day I might go from running the pigsty to organizing elephant shows. The reputation of the Anheuser-Busch brand was always a priority for my parents, especially my father. The business was his love and he felt a great responsibility for the legacy left by his father and grandfather.
My parents kept us grounded through farm work
My parents didn’t talk much about money, but we understood that it should never be thrown away. There was a feeling that even a great fortune could be lost if we did not care about it. I learned to always turn off the lights so I didn’t run up the electric bill.
My parents wanted my siblings and I to be grounded. My father was always in favor of us getting up early to do chores. He wanted us to know that it took hard work to build anything, let alone a dynasty.
My parents not only taught us to do what we were told; they wanted us to do what we were asked twice. Everything we do must be executed to perfection. That was very important to them.
In addition to these lessons, I learned a lot about hard work from the employees on the farm. My parents owned a huge company, so sometimes it felt like I was being raised by the workers around us. Our farm manager worked for Grant’s Farm for over 50 years and had a huge influence on me, teaching me about plants, animals and machinery.
I had a confidence I could live on so I could pursue my passions
My father had eleven children, including five sons. It was always assumed that his eldest son, my half-brother, would take over the business. My oldest full brother was also ready to participate in Anheuser-Busch. I was never pressured to work in the brewery.
When I was 18, my father gave me a trust. It was enough money to live comfortably, giving me the freedom to work in areas I was passionate about. I went to the University of Missouri to study agriculture and ranching. I also became a champion polo player, sponsored by Anheuser-Busch.
Later I invested in a bar business and a distribution company, where I worked in the warehouse and drove trucks. It was very interesting to learn another aspect of my family business.
I received the rest of my inheritance in 1989 when my father died. I was about 30.
The luck of the draw will determine my children’s legacy
I have taken a similar approach to inheritance with my seven children, who range in age from 18 to 33. When they turned 18, they were given a small trust that they could use to invest or start a business.
I want my children to be financially intelligent and understand hard work. I taught them about investing. I want them to have a trusted team around them, but always make their own financial decisions. If you trust someone else to make your decisions for you, you are making a big mistake.
My father’s will created a battle between my siblings and me that we still haven’t recovered from. I wanted to create a very black and white legacy plan. That’s hard, but I know it will save my children a lot of heartache and lawyer bills in the future.
I have invested heavily in land. So I divided my land holdings into seven plots. When I visit, each of my children draws a number from a hat, and that determines which package they get. I hope this will lead to no arguments, and to the most even inheritance possible.