The family office business is booming, with billionaires and other ultra-high-net worth individuals around the globe funneling trillions of assets into the private wealth management companies as they look to have more direct control over their fortunes. These one-stop-shops help wealthy families with everything from budgeting to tax services to charitable giving and more. But they are also becoming dominant players in the investing world, where their ever-growing pools of capital and influence are shaking up sectors like venture capital and private equity.
Though the exact number is difficult to quantify, there are now over 8,000 single-family offices worldwide, 68% of which were established this millennium, managing more than $3 trillion in assets, according to Deloitte Private's 2024 Defining the Family Office Landscape report. That's a dramatic jump from the approximately 6,100 family offices that existed in 2019. The number is expected to grow by 75% by 2030.
