The World's Richest People Poured Billions Into Stocks At The Start Of The Coronavirus Crisis, But Now They're Looking Elsewhere To Make Their Money | Markets Insider
UBS says its ultra wealthy clients are moving out of stocks to invest in more illiquid areas. Some of these include residential real estate and private equity, the Swiss bank said in a report this week. Josef Stadler, head of family office at UBS Wealth Management said many of its ultra wealthy clients took loans to invest in stock markets. Stadler said: "They bought a billion-plus of those equities to rebalance. And they made a lot of money." Visit Business Insider's homepage for more stories.