A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to high-net-worth investors and consumers. Sign up to receive future issues, straight to your inbox.
Today's workaholic rich people rarely have time to sit down and read a good book, except for a few weeks in August. That's why, every May, private bank JPMorgan releases its summer reading list, which often serves as a book club for billionaires.
This year marks the 25th anniversary of the list, now called the JPMorgan Summer Reading List. The ten books have been carefully curated to suit the tastes and interests of J.P. Morgan's wealthy clients. This year's list includes books on effective communication, artificial intelligence, Formula 1, whisky, hidden vacation spots, and the art collection of Alicia Keys and Swizz Beatz.
JP Morgan created the list by surveying more than 35,000 client advisors and employees globally and asking what topics clients talk about and think about most. This year, consultants submitted more than 700 recommended book titles, which the committee narrowed down based on timeliness and appeal.
“Our clients run the gamut from business owners and entrepreneurs to philanthropists and art collectors,” said Darren Odoyoye, chief communications officer at JP Morgan Asset & Wealth Management, who has led the list since its inception. “There are books that fit into each of those groups.”
Clients receive a stylish JP Morgan branded box with one or two books from the list, specifically recommended by their client advisor. The advisor also includes a handwritten note and a keepsake bookmark.
The list helps advisors connect with clients during the slow summer months. They also help out with client events, since the authors on the list often agree to do private dinners or speaking events for JP Morgan clients.
Authors like to be on the list, too, since JP Morgan buys thousands of books to distribute and since clients often refer books to others.
“The menu is something that customers, colleagues and our communities all look forward to,” Odoyoye said.
This year's 25th Anniversary Edition includes a special “Anniversary Spotlight” highlighting Water.org, the charity founded by Gary White and Matt Damon, and their book The Value of Water.
Below is JPMorgan's 25th Annual Summer Reading List, along with book summaries provided by the bank:
“Supercommunicators: How to Unlock the Secret Language of Communication” by Charles Duhigg
By sharing the latest research on what makes effective conversations, Charles Duhigg reveals how we can level up our communications and create stronger connections. Whether it's a divided jury room or the way a CIA officer recruits a foreign agent, Duhigg uses examples to illustrate how we can deliver effective messages by recognizing and leveraging the three layers of every conversation—practical, emotional, and social. Taking us from the writers' room of one of TV's most successful series to the couches of in-demand marriage counselors, Duhigg shows us that we all have super-communicators inside us.
“The Anxious Generation: How Childhood's Great Rejuvenation Is Driving an Epidemic of Mental Illness” by Jonathan Haidt
Social psychologist Jonathan Haidt presents urgent facts—and issues a clear call to action—to focus attention on the global epidemic of adolescent mental illness. Haidt identifies the widespread use of smartphones and more than a dozen other mechanisms as having contributed to the “great renewal of childhood.” Arguing that these technologies have had a profoundly negative impact on children's social and neurological development, it explores what can be done to reverse the dramatic rise in sleep deprivation, fragmented attention, loneliness, addiction, and social comparison. Most importantly, Haidt calls for collective action and outlines steps we must all take to end this pandemic.
“Giants: Art from the Dean Collection by Swizz Beatz and Alicia Keys” is published by Phaidon
Celebrating selections from the global repertoire of musical and cultural icons Alicia Keys and Swizz Beatz (Qasim Deen), “Giants” highlights 100 works by nearly 40 Black, African American, and African diaspora artists from across generations. Curated by the Brooklyn Museum for its first-ever major exhibition, the Dean Collection includes works by legendary—as well as emerging—artists including Gordon Parks, Jean-Michel Basquiat, Lorna Simpson, Odile Donald Odetta, and Kennedy Yanko. “Giants” also includes exclusive conversations between Swizz Beatz, Alicia Keys and curator Kimberli Gant, as well as interviews with 10 popular artists.
“Brave New Words: How AI will revolutionize education (and why that's a good thing)” by Salman Khan
Salman Khan, the visionary behind the non-profit Khan Academy, explores how artificial intelligence (AI) can transform the learning process in both education and the workplace. It shows how AI will not replace human interaction but rather enhance it with tools to encourage creativity and problem solving, and demonstrates how AI can adapt to the pace of each individual student while identifying strengths and areas for improvement. By demonstrating how emerging technologies can create a more accessible educational system, Khan offers practical implications for administrators, consultants, and hiring managers, as well as thoughtful insights into how we can all use AI in an increasingly digital world.
“Love and Whiskey: The Remarkable True Story of Jack Daniel's, His Master Distiller The Nearest Green, and the Unlikely Rise of the Nearest Uncle” by Fawn Weaver
Entrepreneur Fawn Weaver reveals the untold story of one of America's most famous whiskey brands. Set in Lynchburg, Tennessee, Love & Whiskey follows Weaver's quest to discover the life of Closer Green, a 19th-century African-American distiller who played a pivotal role in the development of Jack Daniel's whiskey. By navigating through layers of history to uncover the truth about Greene's contributions to the spirits industry and his friendship with Daniels, Weaver reveals a story that connects generations. Her findings inspire a new path forward, as Weaver spearheads the creation of Uncle Nearest Premium Whiskey as a way to honor and celebrate Green's legacy for generations to come.
“Formula: How hustlers, geniuses and speed freaks re-engineered Formula 1 into the world's fastest-growing sport” by Joshua Robinson and Jonathan Clegg
In “The Formula,” The Wall Street Journal's Joshua Robinson and Jonathan Clegg tell the intriguing story of how Formula 1's bold reinvention led to its launch in America. With fast cars, engineering geniuses, driver rivalries, and enchanting settings, “The Formula” details how Formula 1's “surprising” arrival in the United States was actually decades in the making. With unrestricted access to Formula 1's most legendary teams and icons from Ferrari to Mercedes, Robinson and Clegg give readers an exciting look inside the drivers, companies, cars and stakes that have defined the world's fastest-growing sport.
“Secret Stays: Pioneering Hosts for the New Elegance” by Melinda Stevens, Essie Von Simpson and Tabitha Joyce
A fascinating exploration curated by Melinda Stevens, Essie Von Simpson, and Tabitha Joyce, Secret Stays presents 22 hidden gems that reflect the dynamic evolution of modern travel. Highlighting compelling properties and the people who own them—from a secluded Croatian monastery to a Japanese townhouse—this coffee table book from Assouline, the luxury culture brand, reveals one-of-a-kind experiences that stem from a renewed faith in culture. Genuine and detailed hospitality. Through stunning photographs and compelling narrative, Secret Stays takes a fresh look at the diverse and evolving face of travel today.
“Finding Fortunato: How a Peruvian Adventure Inspired the Remarkable Success of a Family Chocolate Company” by Adam Pearson
In Searching for Fortunato, Adam Pearson takes us on a journey into the jungle of northern Peru with the inspiring story of an entrepreneurial family who struck gold and discovered the legendary white cacao bean of the Nacional – previously thought to be extinct. Realizing that their success was dependent on disrupting the traditional and unethical supply chain of trading directly with local farmers in Peru, the family instead created Fortunato Chocolate, a company that would be described as the “Rolex of chocolate.”
“Runtime: A Practical Guide to Personal Productivity and Well-Being” by Laura May Martin
Every day, tens of thousands of Googlers, from interns to executives, rely on their executive productivity consultant—Laura Mae Martin—to make the most of their time. In Uptime, Martin offers easy-to-follow steps to boost productivity, prevent burnout, and achieve a better work-life balance. Whether you're facing a barrage of emails, an overloaded calendar, or a difficult meeting to lead, Martin's strategic approach lays out concrete steps to help you manage time efficiently, focus on priorities, and maintain effective systems and procedures.
“The Secret Society of Aunts and Uncles” by Jake Gyllenhaal and Greta Caruso
A whimsical and heartwarming picture book by Academy Award and Tony Award nominee Jake Gyllenhaal and his childhood best friend Greta Caruso, “The Secret Society of Aunts and Uncles” celebrates the unique, fun-filled role that aunts and uncles play in children's lives. Humorously exploring the call to adventure that being an aunt or uncle can bring—from flexible bedtimes to activities with a “healthy dose of danger”—this book paints an endearing picture of these special relationships.
Anniversary Spotlight: “The Value of Water: Our Story of Chasing Solutions to the World's Biggest Challenge” by Gary White and Matt Damon
In celebration of the 225th anniversary of JPMorgan Chase's first predecessor – the Manhattan firm, which was founded as a water works company – we are proud to highlight the book The Value of Water by Gary White and Matt Damon. These two unlikely allies, with a shared mission to end the global water crisis, take readers on a journey to empower communities and families with the tools to address their drinking water shortages. By illustrating a trial-and-error approach to finding a practical solution, White and Damon demonstrate how the water crisis can be solved through teamwork.
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