Silicon Valley’s Elite Financial Advisers Say This Era of Wealth Is Different
Key takeaways
- Two private wealth managers who work with high-net-worth techies told me they’ve seen an uptick in activity from their client base, some of whom are expecting a big liquidity event this year.
- Visions of super-yachts, air-cooled Porsches, and vacation homes with closets full of Loro Piana probably come to mind.
- They should also consider that a balance sheet largely made up of one stock—like, say, SpaceX—can shift dramatically in value over time.
Why this matters: a development in AI with implications for how people work, create, and decide.
Photo-Illustration: WIRED Staff; Getty Images Comment Loader Save Story Save this story Comment Loader Save Story Save this story If anyone in tech has already started their Hot IPO Summer, it’s Silicon Valley’s elite wealth advisers.
Two private wealth managers who work with high-net-worth techies told me they’ve seen an uptick in activity from their client base, some of whom are expecting a big liquidity event this year. We’re talking, of course, about the employees and early investors at Space X, OpenAI, and Anthropic who are coming into mind-boggling riches. (These wealth managers agreed to speak on the record but wouldn’t name specific companies, so any such references are my words, not theirs.)
Visions of super-yachts, air-cooled Porsches, and vacation homes with closets full of Loro Piana probably come to mind. But elite advisers say most of their clients are pretty strategic about their newfound wealth before purchasing big-ticket items, snapping up real estate, or plunging their money into meme stocks. (Some go big anyway.)