The Presidential Daily Brief

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    The Secret Cash Stashes of the Mega-Rich

    The family that banks together outflanks together. Many of the world’s ultrawealthy send billions to Wall Street hedge funds for investment, but others opt for a “family office,” a private investment vehicle set up by an individual family to preserve both control and secrecy. While exact numbers are unknown due to the secretive nature of family offices, some estimates have put their combined size at a staggering $4 trillion — surpassing the entire $3.2 trillion hedge fund industry — with an emphasis on long-term investments to preserve wealth.

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