Family Office Buzz

Warren Buffett's warning. 5 SFO misconceptions. Billionaire women redefining wealth. The best 3 cities for building wealth.

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Mr FamilyOffice & Mr FO
December 02, 2024

FAMILY OFFICE BUZZ

 

A weekly collection of family office news and highlights. Included this week:

  • Warren Buffett’s warning ahead of the Great Wealth Transfer

  • 5 misconceptions about working with large Single Family Offices

  • Billionaire women are redefining wealth

  • How Henry Ford almost destroyed his empire

  • The best three cities for building wealth

𝕏 highlights

Warren Buffett’s inheritance plans.

Henry Ford almost destroyed his family and empire.

What stunts innovation.

UBS estimates that 31% of US family offices offer carried interest… but how does it work?

You should also check out Michael’s Fundamentals newsletter - a guide to investment funds and SPVs.

By 2034 your 9-5 will be extinct.

in LinkedIn highlights

Five misconceptions about working with large Single Family Offices.

Nigel Phelan on LinkedIn: In my time working with large single-family offices, I’ve observed these 5…

In my time working with large single-family offices, I’ve observed these 5 misconceptions as to how they’re perceived and operate when investing: 1️⃣ "They…

www.linkedin.com/feed/update/urn:li:activity:7266397302280335360?updateEntityUrn=urn%3Ali%3Afs_updateV2%3A%28urn%3Ali%3Aactivity%3A7266397302280335360%2CFEED_DETAIL%2CEMPTY%2CDEFAULT%2Cfalse%29

The ambitious plans of one of Indonesia’s wealthiest.

Faris Mokhtar on LinkedIn: Indonesian Tycoon Eyes Theme Park, F1 in $16 Billion Project

Some tycoons are elusive creatures. And Indonesia’s ‘Nine Dragons’, a term given by locals to describe an exclusive group of nine super-wealthy and influential…

www.linkedin.com/feed/update/urn:li:activity:7268060269015117824?updateEntityUrn=urn%3Ali%3Afs_updateV2%3A%28urn%3Ali%3Aactivity%3A7268060269015117824%2CFEED_DETAIL%2CEMPTY%2CDEFAULT%2Cfalse%29

Billionaire women are redefining how wealth is made, spent and given away.

Robert Frank on LinkedIn: #wealth #investing #philanthropy #familyoffices #wealthmanagement | 11 comments

Of the 431 women billionaires, 38% inherited their fortunes compared to 5% for… | 11 comments on LinkedIn

www.linkedin.com/posts/robertfrank-cnbc_wealth-investing-philanthropy-activity-7266802848569479170--WgO?utm_source=share&utm_medium=member_desktop

📰 family office news roundup

The best three cities for building wealth. Asian wealth managers were asked which were the best three cities in the world for building wealth. It used to be Zurich, London and New York... wealth managers have identified three new hubs - The Asset

Warren Buffett issues a warning for all parents ahead of the $84 trillion Great Wealth Transfer - Warren Buffett emphasizes the importance of proactive estate planning, encouraging open dialogue with heirs to prevent conflict and ensure alignment with a benefactor’s intentions. He advises parents to share and explain their wills with mature children to foster understanding and avoid posthumous disputes. Buffett models this approach by adjusting his will regularly, maintaining simplicity, and prioritizing charitable giving over creating family dynasties - Fortune

Lack of trust in Gen Z risks generational wealth erosion - Nedbank Private Wealth highlights concerns over Gen Z and millennial heirs' readiness to lead family businesses, with many feeling underprepared despite their enthusiasm. The report underscores the risk of wealth erosion across generations, often caused by communication breakdowns and trust issues rather than market risks. Integrating philanthropy into succession planning is recommended as a powerful tool to build leadership skills, preserve wealth, and bridge generational divides while fostering shared values and societal impact - Spears

Study shows family offices in Africa expect dramatic growth in next five years. Ocorian’s study among family office professionals working in Nigeria, South Africa, Ethiopia, Kenya and Tunisia, collectively responsible for around $18.625 billion assets under management, shows 65% predict dramatic growth. - Ocorian.

J.P. Morgan Private Bank report reveals how wealthy families can adapt in a complex world. The article highlights the challenges ultra-high-net-worth families face in governance, succession planning, cybersecurity, and wealth management amidst a complex economic landscape. It emphasizes the importance of formal structures, like governance models and succession planning, while also exploring trends in alternative investments and the need for robust cybersecurity measures. - South China Morning Post

Friday’s newsletter is all about health and wellness for family offices and the rise in companies providing related services - an interesting space!

Until then, see you on 𝕏 or LinkedIn.

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