Reported 4 months ago
The ultra-rich in Perth, Australia are crossing into the realm of fabulously wealthy with the rise of family offices catering to individuals with over $100 million in assets. The number of family offices globally has tripled since 2019, with Perth, home to 64 centi-millionaires, seeing a surge in affluence thanks to a booming mining sector. Traditional financial hubs like New York and London are now joined by Perth in hosting family offices, where the wealthy exert control over their assets and investments, with a focus on sustainable businesses and direct holdings. Local skepticism of outsiders and the desire for personal connections have led affluent Perth natives like Andrew Forrest and Rod Jones to establish their own family offices, choosing local expertise over global wealth managers.
Source: YAHOO