Bloomberg reported that the latest analysis from advisory firm Deloitte predicts substantial growth in the fortunes of ultra-wealthy families by 2030. In just a few years, their wealth is expected to reach a staggering $9.5 trillion.
The Super-rich Will Get Even Richer
Deloitte's data shows that the wealth of individuals representing affluent family-run businesses is projected to grow by as much as 73 proc. from the current $5.5 trillion. Additionally, the family business sector is expected to catch up to hedge funds in terms of assets under management. By 2030, these family businesses are expected to control $5.4 trillion in assets, while global hedge funds currently hold around $5 trillion.
Global family-run businesses are growing rapidly, focusing on expanding their presence in various parts of the world, increasing their asset base, influencing their industries, and identifying what drives their success
- commented Wolf Tone, Deloitte Private Global Leader, in the report.
As they continue to navigate economic challenges and geopolitical uncertainty, these companies are expanding their services, developing their structures, focusing on talent strategies, and carefully managing their investments to ensure efficient operations in the future.
Family Businesses Must Be Cautious About Hiring
The businesses analyzed in the report employed an average of just 15 staff members while managing assets worth approximately $2 billion. Interestingly, less than one-third of these companies were managed by individuals from outside the family.
Managing such vast wealth certainly comes with risks
- added Rebecca Gooch, Global Director of Research at Deloitte Private.
Family businesses really need to be cautious about whom they bring into their operations.
