Long ago, in some countries, kingdoms used to be passed to the oldest child — and often, the oldest male. While this may have had advantages in ancient monarchies, it has no place in family businesses.
In the case of family-owned businesses, it is still sometimes the practice to install the oldest child, and the oldest son, as the successor CEO.
Experience shows that this often leads to inefficiencies and mistakes that jeopardize the continued existence of these family businesses. An old saying, "shirtsleeves to shirtsleeves in three generations," describes the fact that many family businesses that are passed down to children and then grandchildren tend not to survive through the third generation.