A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to wealthy investors and consumers. Sign up to receive future issues straight to your inbox.
Today’s wealthy 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 releases its summer reading list every May, often serving 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 have been carefully selected to suit the tastes and interests of JP Morgan’s wealthy clients. This year’s list includes books on effective communication, artificial intelligence, Formula 1, whisky, hidden vacation spots and a collection of art by Alicia Keys and Swizz Beatz.
JP Morgan creates this list by surveying more than 35,000 client advisors and employees around the world and asking about the topics clients talk and think about most often. This year, advisors sent over 700 recommended book titles, which the committee selected due to their topicality and attractiveness.
“Our clients run the gamut from business owners and entrepreneurs to philanthropists and art collectors,” said Darin Oduyoye, chief communications officer at JP Morgan Asset and Wealth Management, who has led the list since its founding. “There are books that fit each of these groups.”
Customers receive an elegant box with the JP Morgan logo, which contains one or two books from the list, especially recommended by their customer advisor. The advisor also includes a handwritten note and a keepsake bookmark.
The list helps advisors connect with clients during the tardy summer months. It also helps with client events, as authors on the list often agree to host special dinners or speaking engagements for JP Morgan clients.
Authors also love being on the list because JP Morgan buys thousands of books to give away and customers often recommend them to others.
“This list is something that customers, colleagues and our communities alike look forward to,” Oduyoye said.
This year’s 25th anniversary edition includes a special “Anniversary Spotlight” featuring Water.org, the charity founded by Gary White and Matt Damon, and their book “The Worth of Water.”
Here is the 25th annual J.P. Morgan summer reading list, along with book summaries provided by the bank:
“Super Communicators: How to Unlock the Secret Language of Connection” by Charles Duhigg
Sharing the latest research on what makes conversations work, Charles Duhigg reveals how we can improve our communication and create stronger bonds. Whether it’s a divided jury room or how 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. By taking us from the writers’ room of one of the most popular sitcoms to the couches of sought-after marriage counselors, Duhigg shows us that we all have super communicators within us.
“An Anxious Generation: How Major Changes in Childhood Habits Are Causing an Epidemic of Mental Illness.” by Jonathan Haidt
Social psychologist Jonathan Haidt presents urgent facts and a clear call to action to focus attention on the global epidemic of adolescent mental illness. Haidt believes that the widespread utilize of smartphones and a dozen other mechanisms has contributed to a “great transformation of childhood.” Arguing that these technologies have a profoundly negative impact on children’s social and neurological development, he explores what can be done to reverse the significant increases in sleep deprivation, attention fragmentation, loneliness, addiction and social comparison. Importantly, Haidt calls for collective action and outlines the steps we all must take to end this epidemic.
“Giants: Art from the Collection of Dean Swizz Beatz and Alicia Keys” published by Phaidon
Celebrating select works from the world-class collection of music and cultural icons Alicia Keys and Swizz Beatz (Kasseem Dean), “Giants” showcases 100 works by nearly 40 multi-generational Black American, African and African Diaspora artists. Curated by the Brooklyn Museum for its first-ever major exhibition, the Dean Collection features works by legendary – and emerging – artists, including Gordon Parks, Jean-Michel Basquiat, Lorna Simpson, Odili Donald Odita and Kennedy Yanko. “Giants” too features exclusive conversations between Swizz Beatz, Alicia Keys and curator Kimberli Gant, as well as interviews with 10 renowned artists.
“Bold Fresh Words: How Artificial Intelligence Will Revolutionize Education (And Why That’s a Good Thing)” by Salman Khan
Salman Khan, visionary behind the nonprofit Khan Academy, explores how artificial intelligence (AI) will transform learning in both education and the workplace. Showing that AI will not replace human interaction, but rather enhance it with tools to encourage creativity and problem solving, it shows how AI can adapt to each student’s individual pace while identifying strengths and areas for improvement. Describing how fresh technologies can create a more accessible education system, Khan offers practical implications for administrators, counselors and hiring managers, as well as thoughtful insights on how we can all leverage artificial intelligence in an increasingly digital world.
“Love and Whiskey: The Extraordinary True Story of Jack Daniel, His Master Distiller on the Green, and the Unlikely Rise of His Greatest Uncle” by Fawn Weaver
Entrepreneur Fawn Weaver discovers the untold story of one of America’s most iconic whiskey brands. Set in Lynchburg, Tennessee, “Love & Whiskey” follows Weaver’s journey to discover the life of Nearest Green, a 19th-century African-American distiller who played a key role in the development of Jack Daniel’s whiskey. Navigating through the layers of history to uncover the truth about Green’s contributions to the spirits industry and his friendship with Daniels, Weaver uncovers a story that spans generations. Her discoveries inspire a fresh way forward, and Weaver is spearheading the creation of Uncle Nearest Premium Whiskey to honor and celebrate Green’s legacy for generations to come.
“Formula: How rogues, geniuses and speed freaks turned F1 into the fastest-growing sport in the world” by Joshua Robinson and Jonathan Clegg
In “Formula,” The Wall Street Journal’s Joshua Robinson and Jonathan Clegg tell the gripping story of how Formula One’s fearless reinvention led to its breakthrough in America. With swift cars, engineering genius, competitive drivers and eye-popping scenery, “Formula” details how F1’s “sudden” arrival in the United States took decades. With unlimited access to F1’s most legendary teams and icons, from Ferrari to Mercedes, Robinson and Clegg give readers an thrilling insight into the drivers, corporations, cars and risks that have defined the world’s fastest-growing sport.
“Secret Stays: Pioneering Fresh Chic Hosts” by Melinda Stevens, Issa 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 lively evolution of newfangled travel. Highlighting captivating properties and the people who own them – from a secluded Croatian monastery to a Japanese machiya townhouse – this coffee table book from Assouline, the luxury cultural brand, reveals once-in-a-lifetime experiences born of a reborn belief in true, bespoke hospitality. With stunning photography and compelling storytelling, Secret Stays takes a fresh look at the diverse and ever-changing face of newfangled travel.
“Finding Fortunato: How a Peruvian Adventure Inspired the Sweet Success of a Family Chocolate Business by Adam Pearson
In Finding Fortunato, Adam Pearson takes us on a journey to the northern Peruvian jungle, telling the inspiring story of an enterprising family that struck gold and discovered the legendary white Nacional cocoa bean – previously thought to be extinct. Realizing that their success was based on disrupting the time-honored, unethical supply chain and instead trading directly with local Peruvian farmers, the family founded the pioneering company Fortunato Chocolate, which came to be known as the “Rolex of chocolate.”
“Uptime: A Practical Guide to Personal Productivity and Well-Being” by Laura Mae Martin
Every day, tens of thousands of Google employees, from interns to senior executives, rely on executive productivity advisor Laura Mae Martin to make the most of their time. In Uptime, Martin shares easy-to-follow steps to raise productivity, prevent burnout, and achieve a better work-life balance. Whether you’re dealing with an avalanche of emails, an overloaded calendar, or a hard meeting, Martin’s strategic approach lays out specific steps to support you manage your time effectively, focus on your priorities, and maintain effective systems and procedures.
“The Secret Society of Aunts and Uncles” by Jake Gyllenhaal and Greta Caruso
A whimsical and uplifting picture book from Oscar 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 adaptable bedtimes to activities with a “robust dose of danger” – this book presents a loving portrait of this unique relationship.
Anniversary spotlight: ‘The Value of Water: Our Story of Finding Solutions to the World’s Greatest Challenge’ by Gary White and Matt Damon
On the occasion of the 225th anniversaryvol anniversary of JPMorgan Chase’s earliest predecessor, the Manhattan Company, which was founded as a water utility, we are proud to present “The Worth 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 provide communities and families with the tools to address drinking water shortages. Describing their trial-and-error approach to finding a workable solution, White and Damon show how the water crisis can be solved through collective action.
Sign up to receive future editions of CNBC Inside the wealth newsletter with Robert Frank.
