Family/private investment offices often invest in the same sectors the family/entrepreneur made their money from in the first place. But that’s less common when fortunes were made from the financial sector. Instead, often billionaire financiers diversify their investments into more physical assets like real estate and non-financial businesses. Maybe that’s because of the ephemeral nature of the world they originally made their money from, or maybe it’s because they’re often better than other billionaires at diversifying their risk.
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