Large family offices often employ 25 to 40 people

Family offices are expanding around the world at a rapid pace, impacting the wider financial landscape.

There are several types of family offices that cater to ultra-high net worth individuals, starting with single-family offices that cost an average of $3.2M annually.

Family offices provide a broad swath of services to ultra-high-net-worth individuals that help the family maintain their wealth for generations.

As the number of family offices grows, they’re battling for top talent with traditional financial institutions by bulking up pay and incentive packages.

Wealth management for families with massive fortunes has evolved over the centuries, with the Rockefellers establishing the first single-family office in 1882.

The number of family offices, and how much money under their management, is growing rapidly both in the US and around the world.

The Rockefellers created the first known single-family office in the late 1800s but the firm has evolved since to serve many wealthy American families.

The UBS annual report on family offices found that its clients are preparing for trade wars, generative AI, and generational wealth transfers.

The “Switzerland of Asia,” Singapore, is a haven for global wealth and has attracted a growing number of family offices to set up shop there.

Private firms that manage family fortunes have been investing more in alternatives like venture capital and real estate, impacting the wider financial world.

Just 12% of family wealth reaches the third generation, and 3% makes it to the fourth. Family offices work to prevent that kind of attrition and ensure family fortunes are passed to the next generation.

Companies led by family CEOs tend to prioritize corporate social responsibility, but they also tend to invest less in innovation and international growth. They also have more debt on average.

Archegos, which managed the assets of Bill Hwang, wasn’t subject to the same oversight as traditional investment firms when it collapsed.

The founder of a multifamily office firm offers lessons on how to preserve wealth for generations from a global perspective, like educating younger family members.

With this structure, firms charge limited partners or "LPs" a 2% management fee for overseeing the fund (assets under management or AUM) and take 20% of the fund's overall profits (carried interest). Many private credit funds also operate under this structure.

In the large-scale projects real estate investment firms handle (such as huge commercial developments), the parties involved in a sale are more likely to be large corporate real estate developers and investors than individuals.

Although some banks report attempts to cap hours for junior employees at 80 hours per week, these employees often continue working many more hours than that. Goldman Sachs analysts, for instance, went viral back in 2021 when they put together a PowerPoint deck complaining of 100-hour work weeks and mental health struggles.

The Vatican is a massive organization whose processes and positions can appear impossibly dense to the common public. But, as this explainer from a University of Dayton professor makes clear, the Catholic Church's bureaucracy functions much like similarly-sized companies and universities. While the processes might still seem unnecessarily complex after reading, you'll at least be able to trace the org chart from the Pope on down.

Tracking began in 1939, when the federal workforce consisted of about 1 million people. The total peaked in 1990 at 3.4 million, and hit a recent low in 2014 at 2.7 million.

Working up to 120 hours a week, investment bankers help major corporations navigate IPOs, mergers, and more. Despite long hours and a high-pressure environment, investment banking remains a critical industry that shapes the global financial landscape.

However, only two of those 10 women were in charge of a revenue-generating business arm. Learn more about what it’s like to be a woman in investment banking—and about Goldman’s recent gender discrimination settlement.

Before the pandemic, real estate costs were between 3% to 9% of the typical S&P 500 company's budget (with the exception of companies in the energy industry). Eliminating some or all of a company's expensive office leases is one way that companies can save money by adopting work-from-home models.

However, only 38% of those making $50K to $100K can do the same. Some have pointed out that working from home is increasingly inaccessible to blue-collar workers and those who did not attend elite higher education institutions, furthering America's class divide.

This article offers tips for keeping yourself organized, such as the list of documents your family may need and suggestions for where to keep the files, both digital and physical.

Today, someone's financial standing has more to do with their families than any other outside factor. Of the more than $100T of projected inheritance, that money is concentrated among a few wealthy estates and families.

Tracing back to 19th-century household roles, the chief usher is now the White House's general manager—overseeing renovations, maintenance, food service, budgets, and employees who run the daily operations of the complex.

The Milliman Medical Index tracks the real cost of health insurance for people covered through employer-sponsored plans. In 2025, healthcare for a family of four cost an average of $35K, including employer contributions, out-of-pocket expenses, premiums, and offset wages.

The individuals who invest this initial capital are called the firm's limited partners. Private equity firm LPs include sovereign wealth funds, university endowments, high-net-worth individuals, and more.

High-earners can make more than six figures, while close to 15% make less than the federal minimum hour wage. Most gig workers in the United States still have to file a tax return every year.

The “Big Three” and the “Big Four” consulting firms especially are known for high pay. Top firms often offer entry-level salaries well over $100K per year.

You could probably name a few of America's richest people, like Elon Musk or Mark Zuckerberg, for instance. But could you name the richest families in America, like the Waltons or the Mars family? Explore the list of 2024's richest families in America—and find out how they made their money—here.

Trust funds can be expensive to set up, given that their establishment often requires paying a lawyer for their time. But for many, that expense might be worth it depending on the complexity of the assets and the ability to specify when, where or how an estate’s assets are used.

While we often just think of the actors and directors who take top billing, Broadway productions operate as distinct businesses employing numerous people in various roles: stage managers, sound designers, house managers, ushers and more.

A growing share of the funeral home industry is being acquired by private equity-backed firms. A 2022 article states that about 20% of this $23B business is owned by funeral home chains, and private equity-backed firms own about a quarter of those.

In 2026, American Express came in eighth place in Forbes' annual ranking of the best large workplaces (meaning workplaces with more than 5,000 employees). It's the top-ranked finance company on the list. The rankings were determined by survey data that asked employees to anonymously rate the salary, opportunity for advancement, benefits, and workplace at their company.

But that money doesn't come easily. Team principals have to constantly ensure money is coming in to fund their million-dollar cars every weekend. This CNBC video explores all the costs of running a team. It also shows how team principals woo sponsors and find ways to maximize their technology with a cost cap.

"The cleanest way to describe the gap is that $75K is often about stability, while $150K can be about optionality, but only if fixed expenses do not expand to consume the raise," said one finance professor.

In the Big Four American sports, teams have a head coach to lead the team and a general manager to run the business side. In Formula 1, they have a team principal, who speaks publicly on behalf of the team, manages the team's personnel, and engages with F1's governing body.

Arnault has five children, and each of them hold executive roles under LVMH. His daughter Delphine Arnault, for instance, is the CEO of Christian Dior Couture as of this writing.

Out of all married physicians, roughly one in five is married to another physician. The trend extends beyond the medical field. Some professionals are more likely to marry one another than others. Find out which jobs most often pair together among married couples with this interactive tool based on estimates from the American Community Survey. Click here to type in your profession and see your most likely match.

Retail investors often trade 100 shares at a time, while institutional investors trade 10,000 or more. The biggest difference is that, unlike retail investors, institutional investors are professionals who are trading someone else’s money.

A former congressional scheduler explains that a member's time is the scarcest resource in any Hill office, and controlling the calendar means understanding every competing claim on it, from the legislative team to the member's family. The interview demystifies how a typical House office actually functions, from staff hierarchies to outside resources like the Congressional Research Service.