Family-owned businesses (FOBs) are prominent players both in regional and world economic development. They have continued to gain significance because they create new jobs, incubate new businesses, and drive entrepreneurial activities within communities. Despite these significant contributions of family-owned businesses to national development, very few FOBs survive to the second and third generations. A search of literature on the relationship between Chief Executive Officers (CEOs) Narcissisms Personality Trait and survival of these FOBs was scant. This quantitative study therefore critically examined CEO Narcissism personality traits and how it affects the survival of family-owned businesses in South-south Nigeria. The theoretical framework for this study was based on Upper Echelon Theory (UET). The study population consisted of 628 hotels in South-south region of Nigeria with 289 participants drawn from these hotels. Structural Equation Model used for data analysis revealed that CEO narcissism personality is critical and highly imperative factor in sustaining family-owned business operations and survival.