Family Office Podcast - Private Investor & Investment Insights

Richard C. Wilson explains what he calls wealth shrapnel. Basically, you know what is negative about being ultrawealthy? A lot of people see ultrawealthy as someone who has a private jet, has many houses, and more money than they know what to do with. Perhaps, is making investments all the time. But I don't see all the negative things that come with it. You know, I have one client who's worth several $100 million who has been blackmailed 12 times. I have people that are clients who are threatened by employees. That if they don't do something like give them a big severance or agree to something in a settlement that them and three others will claim that that person did something to them and ruin the reputation,  essentially. People who are ultrawealthy are typically the ones who are sued the most. The regulators come after them. They're on everybody's radar. If you're in some countries, it's whose assets get confiscated or who has new laws created, to basically take away their assets or take away their market share. Many times, it's the ultra-wealthy who are targeted for kind of silly lawsuits over slip and falls, and it happens much more often than most people probably know about. 

Direct download: 3117973-wealth-shrapnel-the-downside-of-being-ultra-wealthy.mp3
Category: -- posted at: 7:00am EST