Economy

Wealth of super-rich families to soar to $9.5 trillion by 2030

Wealth of super-rich families will grow by 73% by 2030

Families controlling the largest assets through family offices are growing rapidly. According to a report by the consulting company Deloitte, by 2030 it will increase by 73% and reach $9.5 trillion.

Wealth of super-rich families to soar to $9.5 trillion by 2030
Photo: publicly available

Today, family firms manage $5.5 trillion in assets and their influence continues to grow.

Interestingly, family offices are beginning to catch up with hedge funds in terms of asset size and strategic influence on financial markets. Their number will also increase significantly in the coming years, by a third, to 10,720 firms providing services to wealthy families. These investment structures are actively involved in major transactions and have even begun to act as activist investors, shaping market trends.

Amid the rapid growth of wealth, things don't always go smoothly. An example is the collapse of Archegos Capital Management, a fund owned by billionaire Bill Hwang, when the fund failed to fulfill its pledge obligations, resulting in $20 billion in losses. In recent years, the list of the world's richest families has changed significantly. In December 2023, the ruling dynasty of Abu Dhabi Al Nahyan first topped the Bloomberg ranking with a fortune of $305 billion, displacing the perennial leader - the Walton family, which owns Walmart.

It should be reminded that the law allowing foreign banks to open branches in Russia has come into force. The growth of Russians' salaries will lead to an acceleration of inflation.




 

 

 

Author: Наталья Чудесатова

Russia has more department stores

Russia recorded a significant growth in the number of department stores: their number increased by 71% compared to 2023.

Russia has more department stores
Photo: generated by AI, source: shedevrum.ai

According to the analysis of experts from the consulting co CORE.XP, since the beginning of this year, the Russian department store market has demonstrated active development. For the period from January to April the number of open outlets of this format increased by 71% in comparison with the total number for the previous year.

In parallel, the total area of new department stores increased by 21% over the same period, wrote “Kommersant”.

The leader in expansion was the Lady & Gentleman STREET chain, which took over premises previously owned by the Just Clothes chain in a number of major cities, including Moscow, St. Petersburg, Kazan, Yekaterinburg, Rostov-on-Don and Nizhny Novgorod. In addition, new Stockmann stores opened in Khabarovsk and Ivanovo.

In 2024, there was an 84% reduction in the area of new department stores. Vasily Grigoriev, Director of Market Research at CORE.XP, noted that this dynamics was influenced by the high base of 2023, the need to consolidate resources for the development of existing stores, as well as the tightening of monetary policy. He emphasized that such cyclicality is a common practice for the retail industry.

Analysts believe that the active replacement of monobrand stores by department stores indicates the stability and popularity of this format among consumers.

It was reported that marketplaces are replacing traditional stores with discounts of up to 50%.

It was also written that Ozon started online sale of cars.

Author: Наталья Чудесатова

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