There are roughly 15,000 Family Offices around the globe which currently control approximately $10 trillion in assets. In comparison, there is only $6.5 trillion globally in the entire hedge fund world. But even more important than the size Family Offices currently are, we are about to experience the largest transfer of wealth in history. It is estimated that approximately $84.4 trillion is being transferred from the baby boomers to the next generation over the next 20 years. This has massive implications from how companies will be financed in the future, how Family Offices are going to disrupt the private equity and venture capital industries, and lastly, but most important, the major role Family Offices are going to have in the world of philanthropy. While the industry is growing exponentially, the current model does not work. Only 25% of Family Offices make it to the second generation, 10% make it to the third generation, and 5% make it to the fourth generation. But that’s about to change. During this talk, investor and entrepreneur Ron Diamond will talk about the origins of Family Offices, the current landscape in the evolution of Family Offices and future trends in Family Offices. Longtime investor and entrepreneur Ronald Diamond is the Founder and Chairman of Diamond Wealth. He represents over 100 Family Offices ranging in size from $250 million to $30 billion. Diamond Wealth invests in private markets (private equity, venture capital, real estate). In addition, Diamond Wealth has divisions that focus on philanthropy, wealth transfer, investment banking, social impact, and governance.
Ronald serves on the Advisory Board of 10 privately held companies and acts as Chairman for 4 of them. Ronald is also the Chair of two TIGER 21 chapters in Chicago and Chairs a newly created Family Office Group for TIGER 21. He is the past Chairman of the Advisory Board for the Disruptive Technology and Digital City’s Program at Stanford University and taught classes in the Entrepreneur Program at Stanford.
A frequent speaker at Family Office and Alternative Investment Conferences, Diamond has spoken at over 100 conferences around the globe. Mr. Diamond is also the Founder of Family Office World - (www.familyofficeworldpodcast.com) a podcast whose mission is to educate the market about Family Offices.
Earlier in his career, Mr. Diamond founded Pinnacle Capital - a $250 million hedge fund that outperformed the S&P index 10 out of 10 years - before ultimately selling his company to an international investment firm. Previously, Diamond served as a Senior Managing Director at Bear Stearns. He began his career as an analyst at Drexel Burnham Lambert.
Deeply committed to giving back, Diamond is an active philanthropist and civic leader. He serves on the Leadership Circle of the Aspen Institute, a global nonprofit organization committed to realizing a free, just, and equitable society. He also sits on the Board of several other charities and non-profit organizations in his community. Diamond studied at Northwestern University, graduating Magna Cum Laude and earning his degree in Economics. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at www.ted.com/tedx