A group of Silicon Valley billionaires led by former Goldman Sachs Group Inc. trader Jan Sramek have quietly bought up over $800 million worth of Northern California farmland to create a new city from scratch.
The proceeds were paid out as a form of dividend, and the shares were canceled by Kirkbi, which owns 75% of Lego. As a result, the other family members increased their stakes in the family firm.
The results add to evidence of a historic shift, as the billionaire entrepreneurs who for three decades benefited from the tech boom, financial market expansion, real estate bull market and growth in emerging economies prepare to hand over their fortunes.
Dubai saw 89 sales over $10 million, an increase from 58 in the third quarter of 2022. Geneva and Hong Kong also posted increases.
Jennifer Risher is an author, speaker, philanthropist and investor. After her own family had a wealth creation event, she wrote a book titled We Need to Talk: A Memoir About Wealth, which focuses on the impact of wealth on identity and relationships. She discussed her personal story, her book that started it all and how she currently approaches philanthropy.
Shannon Saccocia, CIO of Neuberger Berman Private Wealth, has spent her career in wealth management, serving high-net-worth and ultra-high-net-worth clients. In her role, she works with clients to understand and define the asset allocation that best fits their investment approach.
Fran Seegull is president of the U.S. Impact Investing Alliance, which works to increase awareness of impact investing in the United States.