A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide for high-net-worth investors and consumers. Register to receive future issues, directly to your inbox.
Today's rich workaholics rarely have time to sit down and read a good book, except perhaps for a few weeks in August. That's why JP Morgan Private Bank publishes its summer reading list every May, which often serves as a book club for billionaires.
This year marks the 25th anniversary of the list, now called the JP Morgan Summer Reading List. The 10 books are carefully selected to suit the tastes and concerns of JP Morgan's wealthy clients. This year's list includes books on effective communication, artificial intelligence, Formula One, whiskey, hidden vacation spots and the art collection of Alicia Keys and Swizz Beatz.
JP Morgan creates the list by surveying its more than 35,000 client advisors and employees around the world and asking about the topics clients talk and think about most. This year, advisors submitted more than 700 recommended book titles, which a committee gradually narrowed down based on timeliness and appeal.
“Our clients range from business owners and entrepreneurs to philanthropists and art collectors,” said Darin Oduyoye, director of communications at JP Morgan Asset and Wealth Management, who has topped the list since its founding. “There are books that adapt to each of those groups.”
Clients receive an elegant 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 commemorative bookmark.
The list helps advisors connect with clients during the slow summer months. It also helps with client events, as list writers often agree to host special dinners or conferences for JP Morgan clients.
Authors also love to be on the list, as JP Morgan buys thousands of books for distribution and customers often recommend the books to others.
“The list is something that customers, colleagues and our communities alike are looking forward to,” Oduyoye said.
This year's 25th Anniversary Edition features a special “Anniversary Spotlight” highlighting Water.org, the charity founded by Gary White and Matt Damon, and their book “The Worth of Water.”
Here's JP Morgan's 25th annual summer reading list, along with summaries of the books, provided by the bank:
“Supercommunicators: how to unlock the secret language of connection” by Charles Duhigg
Sharing the latest research on what makes conversations effective, Charles Duhigg reveals how we can improve our communications and build 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 convey 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 television's most successful sitcoms to the couches of the most sought-after marriage counselors, Duhigg shows us that we all have supercommunicators within us.
“The Anxious Generation: How the Great Rewiring of Childhood is Causing an Epidemic of Mental Illness” by Jonathan Haidt
Social psychologist Jonathan Haidt lays out urgent facts and makes 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 factors that contributed to the “great rewiring of childhood.” Arguing that these technologies have had a profound negative effect on children's social and neurological development, he explores what can be done to reverse the significant rise in sleep deprivation, fragmented attention, loneliness, addiction and social comparison. . Importantly, Haidt calls for collective action and outlines the steps we must all take to end this epidemic.
““Giants: Art from the Dean Collection of Swizz Beatz and Alicia Keys” Posted by Phaidon
Celebrating selections from the world-class art collection of musical and cultural icons Alicia Keys and Swizz Beatz (Kasseem Dean), “Giants” highlights 100 works by nearly 40 multigenerational African American, African and African Diaspora artists. Curated by the Brooklyn Museum for its first major exhibition, the Dean Collection features works by legendary (and also emerging) artists such as Gordon Parks, Jean-Michel Basquiat, Lorna Simpson, Odili Donald Odita and Kennedy Yanko. “Giants” too includes exclusive conversations between Swizz Beatz, Alicia Keys and curator Kimberli Gant, plus interviews with 10 of the renowned artists featured.
“Brave New Words: How AI Will Revolutionize Education (And Why It's a Good Thing)” by Salman Khan
Salman Khan, the visionary behind the nonprofit Khan Academy, explores how artificial intelligence (AI) will transform learning in both education and the workplace. By demonstrating how AI will not replace human interaction, but rather enhance it with tools to encourage creativity and problem-solving, he shows how AI can adapt to the individual pace of each student while identifying strengths and areas for improvement. By outlining how emerging technologies can create a more accessible education system, Khan offers practical implications for administrators, counselors, and hiring managers, as well as thoughtful ideas for how we can all use AI in an increasingly digital world.
“Love and Whiskey: The Remarkable True Story of Jack Daniel, His Master Distiller Nearest Green, and the Unlikely Rise of Uncle Nearest” by Fawn Weaver
Entrepreneur Fawn Weaver reveals the untold story of one of America's most iconic whiskey brands. Set in Lynchburg, Tennessee, “Love & Whiskey” follows Weaver's quest to uncover the life of Nearest Green, a 19th-century African-American distiller who played a pivotal role in the development of Jack Daniel's whiskey. Navigating through layers of history to uncover the truth about Green's contributions to the spirits industry and her friendship with Daniels, Weaver uncovers a story that connects generations. Her findings inspire a new path forward, with Weaver spearheading the creation of Uncle Nearest Premium Whiskey as a way to honor and celebrate Green's legacy for generations to come.
“The Formula: How rogues, geniuses and speed freaks redesigned F1 to make it 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 fascinating story of how Formula 1's bold reinvention led to its breakthrough in the United States. Featuring fast cars, engineering geniuses, driver rivalries and glamorous settings, “The Formula” details how F1's “sudden” arrival in the United States was actually decades in the making. With unlimited access to F1's most legendary teams and icons, from Ferrari to Mercedes, Robinson and Clegg offer readers a thrilling look inside the drivers, corporations, cars and risks that have defined the sport. rapid growth in the world.
“Secret rooms: pioneering hosts of the new elegance” by Melinda Stevens, Issy von Simson and Tabitha Joyce
A fascinating exploration curated by Melinda Stevens, Issy von Simson and Tabitha Joyce, “Secret Stays” presents 22 hidden gems that reflect the dynamic evolution of modern travel. Highlighting captivating properties and their owners, from a secluded Croatian monastery to a Japanese machiya townhouse, this book from Assouline, the luxury culture brand, reveals unique experiences arising from a revived belief in genuine, personalized hospitality. Through stunning photography and compelling storytelling, “Secret Stays” offers a fresh look at the diverse and ever-evolving face of travel today.
“Finding Fortunato: How a Peruvian Adventure Inspired the Sweet Success of a Family Chocolate Business by Adam Pearson
In “Looking for Fortunato,” Adam Pearson takes us on a journey to the jungles of northern Peru with the inspiring story of the entrepreneurial family who struck gold and discovered the legendary Nacional white cocoa bean, previously thought to be extinct. Realizing that their success was based on disrupting a traditional and unethical supply chain to trade directly with local Peruvian farmers, the family pioneered Fortunato Chocolate, a company that would come to be described as “the Rolex of chocolate.”
“Activity Time: A Practical Guide to Productivity and Personal Well-Being” by Laura Mae Martin
Every day, tens of thousands of Google employees, from interns to C-suite executives, rely on an executive productivity coach, Laura Mae Martin, to make the most of their time. In “Uptime,” Martin provides easy-to-follow steps to increase productivity, prevent burnout, and achieve a better work-life balance. Whether you're facing a deluge of emails, an overloaded calendar, or a difficult-to-run meeting, Martin's strategic approach lays out concrete steps to help you manage time efficiently, focus on priorities, and maintain effective systems and routines.
“The Secret Society of Aunts and Uncles” by Jake Gyllenhaal and Greta Caruso
A whimsical and touching picture book from 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 and fun role that aunts and uncles play. uncles in the children's lives. Humorously exploring the call to adventure that being an aunt or uncle can bring, from flexible sleep schedules to activities with a “healthy dose of danger,” this book paints a loving portrait of these special relationships.
Anniversary Spotlight: “The Value of Water: Our Story of Finding Solutions to the World's Greatest Challenge” by Gary White and Matt Damon
In celebration of 225th On the anniversary of JPMorgan Chase's first predecessor, the Manhattan Company, which was founded as a water works company, we are proud to highlight “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 tools to address their drinking water shortages. By describing their trial-and-error approach to finding a workable solution, White and Damon demonstrate how the water crisis can be solved through collective action.
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