Westend61 | Getty ImagesFamily offices are increasingly becoming their own private equity funds and investing in companies directly, according to a new survey.A majority (62%) of family offices made at least six direct investments last year, where they buy a stake in a private company or provide lending, according to...
Category: Wealth
The U.S. added 600,000 new millionaires last year as AI fueled markets
B2m Productions | Digitalvision | Getty ImagesThe U.S. far outpaced the rest of the world in minting millionaires last year, adding 600,000 new millionaires and powering record fortunes at the top, according to a new study.America's millionaire population grew 7.3% in 2023 to 7.5 million people, according to a report...
Family offices become prime targets for cyber hacks and ransomware
A computer with a "system hacked" alert due to a cyber attack on a computer network.Teera Konakan | Moment | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future...
The 10 books the rich will be reading this summer
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox.Today's workaholic wealthy rarely have time to sit back and read a good book โ except maybe...
Palm Beach housekeepers are making $150,000 a year due to massive demand from the wealthy
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox.Housekeepers in Palm Beach and South Florida are cleaning up, with salaries often topping $150,000 and bidding...