Family Office World Insights on Family Offices and Wealth Preservation with Michael Sonnenfeldt, Founder and Chairman of TIGER 21
Mar 13, 2020
Michael Sonnenfeldt, Founder and Chairman of TIGER 21, shares insights from his journey as a serial entrepreneur and philanthropist. He discusses the critical role family offices play in wealth management and the challenges of passing wealth to the next generation. Michael elaborates on the concept of 'portfolio defense' within TIGER 21, fostering trust through peer discussions. He also reveals ambitious plans for global expansion and emphasizes creating supportive environments for family offices, ensuring meaningful connections among high-net-worth individuals.
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Dual Role of Family Offices
- Family offices mainly combine family administrative services and investment management.
- Managing the family's financial assets typically defines the transition to becoming a true family office.
Transforming Harbor Warehouse
- Michael Sonnenfeldt bought and transformed an old warehouse into a major office and retail complex.
- The project succeeded after Bankers Trust leased 15% of the space for a major data center.
Be CEO of Your Investments
- Take on the CEO role of your investment management even if outsourcing.
- Oversee all policy decisions and maintain control to match your vision and goals.