Secretive family offices manage $6 trillion globally, more than hedge funds

Secretive investment arms of wealthy families now manage more money than hedge funds. CNBC's Robert Frank joins 'Squawk Box' to report on the family offices competing against private equity, venture capital and wealth management firms. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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[@zico739]

This is misleading. Family offices are a primary source of capital for private equity, venture capital, and hedge funds.

[@skp8748]

They literally said that

[@miguelgonzalez6213]

Secretive? This is the personal holdings of individuals and sometimes their entire families, so I'm not seeing where any level of transparency is necessary. 🤷‍♂ When did it ever become necessary for a private citizen to be less than private with what they invest in or where they hold the bulk of their wealth? Unless someone is implying that the money is being attained via very illegal and immoral means---drug trafficking, human trafficking, etc.---then these people aren't beholden to anyone. Period.

[@blessed7fold]

So they're basically trying to compete with Berkshire Hathaway?

[@jaylenbrownfan2112]

George Carlin - "It's A BIG Club & You Ain't In It!"

[@chiquita683]

Rothschilds?

[@Arational]

I see that Clark Kent changed his name. When do the glasses come off?

[@mark3105]

Money that has been compounding for generations...

[@rodolfoquiroz7819]

Not My Family Offices

[@amdave76]

Even if I have billions I would still invest in index funds and muni bonds

[@brandonfrith8534]

double counting was a great question

[@chowdogchowdog2923]

amazing. a few control most of the wealth

[@stellercorpse]

tiny hats

[@gabatsns-creative]

Stop being concerned with how much someone else controls and be more focused on learning how to control more yourself

[@GetJesse]

CNBC please clean up the bots in the comments. That is all.

[@stevenseibel9216]

It would be awesome to be like them but then not influence politics and do what I want instead.

[@swaep114]

118 % Gain Month. * FFIE.. Faraday Future. New Premium Luxury AI tech, 1,050 hp SUV EV FF 91 Futurist with 2 Recent Pre-Order Video Commercials. Production starts by Sept 2022.

[@orlandorobinson9369]

"Start at $100 million dollars". Who has that kind of money? We are living in a world of haves and have nots, and it's gonna get worse.

[@TheMagicJIZZ]

The key word is family

[@chelsea7xhf]

You know these days, gas station is worth 2-5 millions. If someone owns 20 of them, then congrats, they are in ultra-wealth class. Same concept applies to urgent care, supermarket, dental offices, auto dealer, etc.

[@joosiekawk]

Family clans

[@skp8748]

​@@joosiekawkcan't say which clan though

[@joosiekawk]

@skp8748 @skp8748 thats very easy. Just look up the top 1000, or top 100 or top 10 richest families in the world. They ALL have their own family offices that have massive portfolios that they manage. The Rothschild family clan would be an example of one of the most wealthy and influential family clans in the West. They have so much generational wealth that some individuals of the Rothschild family clan have personal networth exceeding those of many countries. That's insane. But of course if you ask how they accumulated all that wealth...well...let's just say if they tried doing what they did today, they would all be resting on the gullentine.

[@mohamedmontaser307]

اللهم صل علي محمد

[@Benliftgus]

Interesting 🤔

[@Matthew-rp3jf]

Jesus. Fix this. Wonder why we see society crumbling? Yeah, the concentration of wealth like this is why

[@testing6753]

Stop complaining and do something about it. I hate to say but the rich ain't gonna give up their wealth for the "sake of the world"..

[@jamesbyrne9312]

They should though

[@bindutiwari4263]

@@jamesbyrne9312 but they won't. We should operate based on reality not could , should or woulds

[@millenialmusings8451]

@@testing6753hmm.. remember the French revolution? I think we're headed there slowly

[@hardass4088]

👀

[@ziggystardust7888]

Must be related to the Clintons !!! LoL

[@r4ym1n13]

Absolutely !

[@millenialmusings8451]

Rise of the oligarchy

[@illegalsmirf]

Tax them at 99% and put the money to use solving the world's problems

[@laxmi7077]

Don't be stupid n jealous mate....who in their ri g mi d will do business if u tax them 99% n don't think just cos they made it so u or i in their place can make the same money.

[@testing6753]

even if you tax 99% of all the wealthy in the world, it's not gonna solve any of the worlds' problems in the long run.

[@jamesbyrne9312]

You have Stockholm syndrome lax

[@gabatsns-creative]

I don't know you personally but I would be willing to bet lunch that you are not a wealthy person, and that additionally you work for either a wealthy person or a wealthy corporation owned by wealthy persons. Go ahead tax the living hell out of them and see how long your job lasts you forget it takes wealth to make the business that you work for even exist

[@jamesbyrne9312]

@Gary Ralph I think if he isn't wealthy we should listen even more. The wealthy need to put back into society and they are not. They can reinvest all profits into their business and pay zero tax. How does this help the world? Now if they don't want to be taxed more, then engage with workers and find out how business can do more to make society better.

[@R.E.A.L.I.T.Y]

Tax em 75%

[@jhonmuhammad5118]

Lol no

[@swaep114]

47 % Incresae Revenue..* IQST... IQSTEL.. New EVOSS Electric Motorcycles. 5 Divisions. Operates in 15 countries. Global Money One Maxmo Fintech Card, Blockchain, 6 Telecom Co's, IoT Labs, IoT Gas, more. ( New Videos )