Sunday, April 19, 2015

There are Now More Than 14,600 Families with at Least $100 Million in Assets Globally

Sergey Brin is one of them. This is how he spends some of his money according to Bloomberg:
Through Bayshore Global Management, the Google Inc. co-founder has hired former bankers and philanthropy experts to help manage his $30.1 billion fortune. He’s employed a former Navy SEAL and SWAT team veteran for security, and a yacht captain to handle his aquatic endeavors. A fitness coordinator, a photographer and archivist help run his life....
The company’s employees have been recruited from Google, Goldman Sachs Group Inc., Deutsche Bank AG and other family offices, according to LinkedIn profiles that list Bayshore as their employer. It has employed at least 47 people according to Department of Labor filings. These include a chief of staff and manager of the family’s New York City home, who oversaw construction, recruited domestic staff and provided personal shopping.

1 comment:

  1. well they have had quite a run and fun....

    Payday at the mill

    How sophisticated financiers used a Maine investment program they devised to wring millions of dollars in risk-free returns at taxpayer expense
    None of the money was invested in the mill, despite the intent of the program.

    In the end, here’s what really happened: Two Louisiana financial firms arrived in Maine with a plan to create such a program, hired lawyers and lobbyists to get it passed in Augusta, then put together the Great Northern deal using one-day loans that made an $8 million loan look like a $40 million loan. While they claim they did this to leverage more investment, the result is that Maine’s taxpayers are going to pay $16 million to banks and investment firms that invested only half that amount. And all of it was legal.