The Number of Family Offices Tripled in the Past Five Years
- The number of Family Offices worldwide has tripled since 2019 (at 1,285) to 4,592 Family Offices in 2023. The majority of Family Offices are located in North America with 1,682 offices in 2023.
- Utilizing data from Preqin, the chart below breaks down the number of Family Offices by Single families (shown in turquoise) and Multi families (shown in dark blue) from 2019 – 2023.
Largest Asset Classes For Family Offices
- The next chart highlights Family Offices’ Investment Portfolio by asset class from Q3 2023 to Q4 2023, according to Deloitte’s, “The Family Office Insights Series – Global Edition, The Top 10 Family Office Trends 2024.”
- In Q3 and Q4 2023, Equities, developed markets was the largest asset class at 19.0%, followed by Private equity, direct investment at 17.0% and Real estate at 16.0%.
Top Perceived Market Risks for Family Offices
- The chart below illustrates the top perceived market risks for Family Offices in 2024. At 70%, the number one perceived market risk was Global Recession, followed by Geopolitics at 62% and Inflation at 41%.
Top Investment Priorities for Family Offices
- The majority of Family Offices, at 61%, are seeking new investment opportunities in 2024, while 53% are focused on diversifying portfolio and 33% want to pursue more direct investments.
Checking in on the World’s Top 15 Billionaires…
- The final chart lists the world’s top fifteen leading billionaires based on net worth. In July 2024, Elon Musk had the largest net worth at $242.6 billion, followed by Jeff Bezos at $211.6 billion and Bernard Arnault & family at $198.9 billion.
