have one. So do Microsoft Corp. founderand Hong Kong telecommunications tycoon. They are family offices, the loosely regulated, privately owned companies that manage vast amounts of money for wealthy clans. They’re also among the most secretive firms in the world, and by all accounts they are expanding rapidly. Ask any expert on family offices to define them and the likely response will be: “If you’ve seen one family office, you’ve seen one family office.
They’re firms that serve a single family that has so much wealth that family members require their own money managers, accountants, estate planners, lawyers and other specialists to manage it all. Families usually need at least $500 million to set up a full-service office with an investment staff. Many