A weekly collection of news and highlights. Included this week:
Family office boss says financial markets overheating
Running a family office under $100 million
A diagnostic for your family office
What’s top-of-mind for SFO principals
Dynasty: inside the Murdoch succession drama
Living Large: $1,500 Noma LA reservations now available
𝕏 highlights
The great wealth transfer by sector.
Geopolitical concerns and gold allocations.
The world’s wealthiest tracked over time.
in highlights
Why more family offices are taking a preventative approach to ‘invisible’ pressures.
A Tiger21 report on what’s top-of-mind for SFO principals.
Running a family office under $100 million.
Family Office news roundup
Wiz founders launch family office after $32B Google exit. What do you do after a $32B exit… you open a family office! The founders of cybersecurity startup Wiz are setting up a dedicated family office after Google’s acquisition of the company, the biggest tech exit in Israel’s history - Tech in Asia
Storytelling enters the wealth planning toolkit. Advisers are increasingly encouraging wealthy families to document their stories to help preserve values, identity, and purpose alongside financial assets. What advisers call “narrative capital” is becoming a new tool of wealth preservation - Professional Wealth Management
Swiss money managers expect Iran war to increase inflows from Gulf. Swiss private banks and wealth managers say tensions between Iran, Israel and the U.S. could drive billions in Gulf wealth into Switzerland as the most reliable safe haven - Reuters
Why business families still struggle to plan for continuity. Despite the trillions set to pass between generations, many business families still avoid serious succession planning until it is almost too late. The real problem is not legal structures but human dynamics (sound familiar?) - Hubbis
‘Dynasty: The Murdochs’ documentary reveals new family power struggles. A new documentary series frames the Murdochs as a case study in how wealth, power and succession battles collide inside billionaire families - People
Living Large: the finer things in life
Noma opened its Los Angeles residency last week amidst the furor of abuse allegations against chef founder Rene Redzepi. He has since stepped down and handed control over to his team, and the $1,500 per head service continues as planned. Reservations were sold out in minutes when Noma LA was announced, and despite the negative publicity around the founder, finding a seat is almost, but not quite impossible. This is after all, a restaurant that’s a five-time winner of The World’s 50 Best Restaurants list.
Are you running a Virtual Family Office? If so, hit reply, we’d love to hear from you!
ICYMI: Last week’s newsletter introduced an ambitious next-gen building a new family office model. It’s a great read!
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