09.04.24

Ultra-Rich Families Set To Control $9.5 Trillion by 2030, Deloitte Says

by: Annie Massa

The wealth of ultra-rich families will likely grow to $9.5 trillion by 2030, according to estimates from consultancy Deloitte, as family offices grow. The figure would mark a 73% jump from the current $5.5 trillion controlled by people represented by family offices, according to the report. The number of investment firms for the wealthy is expected to grow by one-third over the same time period, to 10,720. As more money is concentrated in the hands of the very rich, and as it becomes easier to open a family office, the industry is catching up with hedge funds in size and, in some cases, hiring from a similar pool of professional investors.

Read the full article on Bloomberg