(Bloomberg) Lamberto Frescobaldi sets two wine glasses atop a wooden barrel in the spacious cellar of his company's winery in a 1,000-year-old castle not far from Florence. Uncorking a bottle of Nipozzano, he takes a sip and nods. The red that his family supplied to Michelangelo and Pope Leo X still tastes pretty darn good.
To Frescobaldi, 53, directing the family business is something of a trust. It’s a way to preserve a dynasty that began with wool traders in about the year 1000 and made its money financing the English crown almost 200 years later.
“You have to feel that what you have inherited, you actually do not own,” he said, seated on a wine cask. “You only have to run it properly, and to carry on to something else.”
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