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Wealth Shrapnel - The downside of being ultra-wealthy

Wealth Shrapnel - The downside of being ultra-wealthy

FromFamily Office Podcast - Private Investor & Investment Insights


Wealth Shrapnel - The downside of being ultra-wealthy

FromFamily Office Podcast - Private Investor & Investment Insights

ratings:
Length:
3 minutes
Released:
Mar 25, 2020
Format:
Podcast episode

Description

Richard C. Wilson explains what he calls wealth shrapnel. Basically, you know what is negative about being ultrawealthy? A lot of people see ultrawealthy as someone who has a private jet, has many houses, and more money than they know what to do with. Perhaps, is making investments all the time. But I don't see all the negative things that come with it. You know, I have one client who's worth several $100 million who has been blackmailed 12 times. I have people that are clients who are threatened by employees. That if they don't do something like give them a big severance or agree to something in a settlement that them and three others will claim that that person did something to them and ruin the reputation,  essentially. People who are ultrawealthy are typically the ones who are sued the most. The regulators come after them. They're on everybody's radar. If you're in some countries, it's whose assets get confiscated or who has new laws created, to basically take away their assets or take away their market share. Many times, it's the ultra-wealthy who are targeted for kind of silly lawsuits over slip and falls, and it happens much more often than most people probably know about. 
Released:
Mar 25, 2020
Format:
Podcast episode

Titles in the series (100)

The Family Office Podcast released 3-7 episodes a week of interview mandate interviews, private investor strategies, innovative investment structures, and wealth management related insights. Our program provides investors with insights on setting up their own single family office, virtual family office, or selection of a multi-family office to help them manage their wealth. We cover private equity, real estate, income investments, commercial real estate, hard money lending, private loans, and innovative structures such as performance-fee only and Co-GP investment opportunities. The Family Office Club has over 3,000 registered investors and our online investor community has over 450 recorded investor mandates, with a normal 30 live events hosted a year with 6,500 participants at those live events. To learn more please visit http://FamilyOffices.com or call (305) 503-9077 Investors can access our deal flow at HTTP://InvestorClub.com and HTTP://DoctorsInvestorClub.com