Summary
While hedge funds and private equity firms grab headlines, family offices are revolutionizing the financial landscape. With trillions of dollars under management, these silent titans are reshaping markets and economies. Family offices currently manage an estimated $3.1 trillion, a figure set to skyrocket to $5.4 trillion by 2030.
The annual meeting of the World Economic Forum in Davos, Switzerland, will take place on November 14. The meeting will discuss ways to make the world a better place.
The number of people in the U.S. living on less than $1 million is on the rise. The number of Americans living on under $1.5 million is also on the increase.
Asia Pacific has emerged as a hotbed of family office activity. By 2030, Asia Pacific is expected to host 3,200 family offices. Women now serve as the principals of 15% of family offices worldwide.
As family offices continue to grow, their impact on global finance is only set to increase. This generational shift is likely to bring new perspectives on issues like sustainable investing, and global diversification.
