American family offices have become the new power players on Wall Street

Odaily Planet Daily reports that more and more American billionaires are establishing family offices. These institutions provide comprehensive services for ultra-high-net-worth individuals, including wealth investment management and personal affairs handling. They are large-scale and operate discreetly, and their influence on Wall Street and the entire US economy is continuously increasing. According to Deloitte data, the current wealth managed by US family offices is approximately $5.5 trillion, a 67% increase over five years; it is expected to rise to $6.9 trillion this year, and surpass $9 trillion by 2030. Deloitte also predicts that in the coming years, the assets managed by family offices will exceed those of hedge fund companies. Deloitte data shows that there are currently over 8,000 single-family offices worldwide, about one-third more than the 6,130 in 2019, and this number is expected to exceed 10,000 by 2030. Major banks and other financial institutions are eager to meet the various needs of family offices, while entrepreneurs and investment managers are competing to share the massive wealth pie held by these wealthy families.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments