Recently, Trusted Insight profiled the ten largest private foundations. In part two of 20 Largest Private Foundations In America, we profile 10 prominent multi-billion-dollar charitable organizations established by some of America’s most storied families -- the Rockefellers, the Mellons, the Waltons and more.
Private foundations, given their charitable orientation, are often overlooked in the competitive arena of investing. However, these firms control vast fortunes that are strategically deployed to enact social influence over a long duration -- often in perpetuity. In part one of Top 20 Private Foundations In America, Trusted Insight profiles 10 prominent multi-billion-dollar charitable organizations established by the founders of America’s largest and oldest companies of the modern age, such as Microsoft, Intel, Hewlett and Packard and Ford Motor Company. Here’s what they do and how they manage their money.
New York City has long been the center of U.S. -- and some would argue global -- financial activity. Vast fortunes have been earned and lost many times over in America’s most populous city. The relative newcomers in the financial landscape of New York City are the single-family offices. As the number of billionaires worldwide has increased, so have the quantity and sophistication of investment offices dedicated to managing those fortunes. As the financial capital, Trusted Insight is highlighting New York City-based single-family offices:
As titans of the investment world, it is only fitting that their wealth be managed by an elite staff of investment professionals. Trusted Insight presents 10 of the investment legends and their single-family offices controlling an aggregate net worth of more than $154 billion.
2016 was a bruising year for university endowments. More than 80 percent of the funds lost money, including the largest ones. Half of the ten largest university endowments ended up in the red, Trusted Insight’s research shows. One may argue that endowments are long-term investors that should look beyond one year. So does a one-year loss translate into bad investing?
In the United States, the ten largest university endowments manage a total of $177 billion in assets (close to a third of the national total). The ten largest endowments, eight of which manage greater than $10 billion in assets, like-mindedly have a stronger preference in alternative assets.
Trusted Insight casts light on a group of family offices that serve the founders of oil companies and their heirs. Today, many of these family offices are run by younger family members or external investment professionals with operations globally. Their investments span from traditional assets to real estate to high-tech venture capital.
Once a family or individual attains a certain degree of wealth, the benefits of establishing a single-family office, solely dedicated to perpetuating family values and fortune, far exceed that of traditional multi-family wealth managers. Far less common is a wealth so vast that it requires two or more single-family offices to preserve capital across generations and time.
This concentration of corporate success has created a vast network of high net worth founders and executives. In fact, 41 of the richest Americans on the Forbes 400 reside in Silicon Valley and given the positive news around the IPO market, that number will surely grow. Below Trusted Insight profiles the family offices managing the fortunes built in and around Silicon Valley.
Last week, Trusted Insight chronicled Hong Kong’s old-money single-family offices, firms that manage wealth for household names such as Li Ka-Shing and Chow Tai Fook Jewelry. This week, we are looking at a different, yet equally important, group of family offices in Hong Kong: the new players.