Top 50 Family Offices in the US (2026)

What are family offices?

Family offices are no longer just private structures for preserving family wealth. They have become larger, more global and more professionalized, with growing exposure to private markets, direct deals, venture capital, real assets and impact investing.

Financial advice

We’ll find a professional perfectly matched to your needs. Getting started is easy, fast and free.

Match with an advisor

Deloitte estimates there are about 8,030 single-family offices worldwide, managing around $3.1 trillion in assets under management (AUM), with both figures projected to rise by $2 trillion by 2030.

Direct investing is also becoming a defining feature: Citi Group’s 2025 survey of 346 single-family office clients across 45 countries found that 70% were engaged in direct investments, and 4 in 10 of those had increased or significantly increased their activity over the previous year.

What the largest family offices look like in 2026

Area	Key data
Global scale	There are an estimated 8,030 single-family offices worldwide, with an estimated AUM of $3.1 trillion. Deloitte projects this could rise to 10,720 offices and $5.4 trillion in AUM by 2030.
Global distribution	North America has the largest number of single-family offices, followed by Asia Pacific and Europe: 3,180 in North America, 2,290 in Asia Pacific, and 2,020 in Europe.
Investment focus	Family offices spend much of their time on portfolio management and direct investing. Deloitte estimates average time allocation at 30% for portfolio management and 22% for direct investing.
Main challenges	Family offices face allocation, currency, succession, cybersecurity, operational, and geopolitical risks. UBS reported that 60% plan strategic asset allocation changes, 65% expect confidence in the US dollar’s reserve status to weaken, and only 35% have a defined succession plan.

Key findings:

Family offices are growing, but the market is becoming harder to define.
Deal activity has slowed from its 2021 peak. PwC found that family office investment activity peaked in H2 2021 at 17,460 deals and $1.05 trillion invested, but fell to below 7,200 deals and $439.6 billion in H1 2025. This shows that the largest family offices remain active investors, but they are operating in a more selective and cautious deal environment.
Direct investing is rising, but it requires stronger internal capabilities. Citi reported that 70% of surveyed family offices were engaged in direct investments, and 40% of those had increased or significantly increased activity over the previous year. Direct deals can reduce reliance on external funds and give families more control, but they also require stronger sourcing, due diligence, governance, legal, tax, and portfolio-monitoring capabilities.
Geopolitical and macro risks are now central concerns. Citi’s 2025 report was released against a backdrop of trade policy uncertainty, geopolitical tensions, and technological change. It stated 60% of family offices cited trade disputes and tariffs as a near-term concern for financial markets and economies.
Currency and sovereign-risk concerns are affecting allocation decisions. The largest family offices are thinking not only about asset classes but also about currency exposure, jurisdictional risk, and long-term portfolio resilience.
The largest family offices are not all the same type of organization. Some are traditional single-family offices, while others are family holding companies, founder investment offices, philanthropic platforms, multi-family platforms, or family-controlled investment groups.
Operational risks are becoming more visible. Citi’s 2025 family office findings highlighted non-investment risks such as geopolitical risk, personal security, and cybersecurity.

Top 50 largest family offices by AUM

In this ranking, the top 50 include a mix of traditional single-family offices, founder-led offices, family holding companies, philanthropic investment platforms, and multi-family investment platforms.

Tier 1: Mega family offices and platforms — $100B+ scale

Rank	Family office	Principal(s)	Estimated AUM	Headquarters	Structure type
1	Excession LLC	Elon Musk	$630B+	Austin, Texas, US	Single-family office/founder executive office
2	Bezos Expeditions	Jeff Bezos	$235B+	Mercer Island, WA, US	Single-family office
3	Walton Enterprises	Walton family	$225.0B+	Bentonville, AR, US	Single-family office/family holding
4	Cascade Investment	Bill Gates	$169B+	Kirkland, WA, US	Single-family office / private investment office
5	Ballmer Group	Steve Ballmer	$133B	Bellevue, Washington, US	Single-family office/ philanthropic platform
6	DFO Management	Michael Dell	$110B+	New York, US	Single-family office
7	Bayshore Global Management	Sergey Brin	Over 100B	Palo Alto, CA, US	Single-family office

1.Excession LLC

Excession LLC is Elon Musk’s family office; it is better understood as a compact founder office that helps manage Musk’s personal assets and financial affairs around his operating-company ecosystem.

Investment focus includes:

Listed company stock, especially Tesla.
Aerospace and space infrastructure through SpaceX.
Artificial intelligence through xAI, whose official site describes frontier AI models for reasoning, code, voice, images, and video.
Neural interface technology through Neuralink, which describes itself as developing brain-computer interfaces.
Tunneling and transport infrastructure through The Boring Company.
Energy, robotics, autonomy, compute, and advanced manufacturing linked to Musk’s operating companies.

Excession is not a normal LP that allocates broadly to outside funds. Its relevance is strategic. The capital base is tied to Musk’s own company ecosystem, so the useful lens is strategic adjacency: AI, space, energy, infrastructure, neural interfaces, and manufacturing.

2.Bezos Expeditions

Bezos Expeditions is a founder-led investment platform with clear exposure to aerospace, media, philanthropy, AI, robotics, biotech, fintech, enterprise software, and private technology companies.

Major projects include Blue Origin, The Washington Post, Bezos Day One Fund, Bezos Family Foundation, the 10,000-Year Clock, and F-1 Engine Recovery. It also lists selected investments, including Airbnb, Arrived, Basecamp, Business Insider, Contextual AI, Collaborative Robotics, Field AI, Figure, and others.

Investment focus based on:

Aerospace and space systems, including Blue Origin.
The Washington Post, Business Insider.
AI and robotics, including Contextual AI, Collaborative Robotics, Field AI, Figure, Perplexity, Physical Intelligence, RIVR, Skild AI.
Biotech and healthcare technology, including Grail, HistoSonics, Insitro, Juno Therapeutics.
Airbnb, Uber, Arrived.
Fintech and enterprise software.
Philanthropy and long-term projects.

3. Walton Enterprises LLC

Walton Enterprises LLC is the central private family office for the descendants of Sam and Helen Walton. It manages the Walton family’s ownership, governance, distributions, investment activity, philanthropy, and broader family affairs around one of the world’s largest retail fortunes, Walmart.

Today, it functions as a central family office and holding structure for multiple generations, combining Walmart share stewardship, family governance, liquidity planning, philanthropy, and investment activity through WIT LLC. Its most verifiable asset remains Walmart common stock, but its role is broader: it is the operating system behind the Walton family’s wealth, ownership, and long-term family enterprise.

Main investment products:

Walmart common stock and family voting control.
Public equities through WIT LLC.
Select direct public-equity positions, such as Apollo Global Management, Snowflake, and Pinduoduo, based on public reporting of SEC filings.
Low-cost ETFs and short-term Treasury ETFs, based on WIT’s 2021 public-equity disclosure.
Real estate, property management, community development, urban development, trusts, legal, tax, philanthropy, and administrative services.

4.Cascade Investment LLC

Cascade Asset Management is the investment office behind Bill Gates’ personal assets and the Gates Foundation Trust.

Cascade Asset Management oversees Cascade Investment, L.L.C., which holds Bill Gates’ personal assets, and oversees the Gates Foundation Trust, which holds the endowment assets supporting the Gates Foundation.

The Q1 2026 information table shows major listed holdings including:

Berkshire Hathaway Class B: about $8.17B
Waste Management: About $6.35B
Canadian National Railway: About $5.33B
Caterpillar: About $4.50B
Deere: About $2.00B

Main investment exposures:

Direct investments
Commercial real estate
Railroads and transportation-linked businesses
Aviation and Luxury hospitality
Farm equipment and agricultural land

5.Ballmer Group

It should be reviewed differently from the way a conventional investment office would. Its public “portfolio” is mainly a grantmaking and impact portfolio, not a securities portfolio.

Ballmer Group reports $1.48B+ in past-year giving and 441 active grants, with annual giving numbers updated as of December 31, 2025. Its grants page lists impact areas including behavioral health, child welfare and family systems, community impact, and other social systems work.

Investment focus based on:

Philanthropic grants
Economic mobility
Children and families
Behavioral health
Child welfare and family systems
Community impact
Education, workforce, housing, and public system reform are listed in grants and initiatives

6. DFO Management

DFO Management is the Dell family investment office. The office was initially established in 1998 as MSD Capital before being restructured as DFO at the end of 2022.

It uses a multi-disciplinary investment strategy focused on maximizing long-term capital appreciation by investing globally in public and private companies, credit, real estate, and other asset classes and securities.

DFO’s official language points to a multi-disciplinary, global, long-term capital appreciation strategy.

7.Bayshore Global Management

Bayshore Global Management is Sergey Brin’s family office.

Main investment exposures:

Alphabet/Google founder wealth.
Private equity, venture capital, real estate, hedge funds, or public equities.
Alphabet Class A and Class B share ownership.

Tier 2: $50B–$100B offices:

Rank	Family office	Principal(s)	Estimated AUM	Headquarters	Structure type
8	Mousse Partners	Wertheimer family	$90B–$100B	New York, US	Single-family office/investment division
9	Dubai Holding	Al Maktoum Family	$76.2B	Dubai, UAE	Family holding company
10	JAB Holding Company	Joh. A. Benckiser heritage	$70B	Luxembourg	Family-backed investment holding company
11	Waycrosse Inc.	Cargill-MacMillan family	$65B	Wayzata, MN, US	Single-family office
12	Pontegadea Inversiones	Amancio Ortega family	$55B	A Coruña, Spain	Family holding company with investment office
13	The Woodbridge Company	Thomson family	$54B	Toronto, Canada	Family holding company

8.Mousse Partners is the Wertheimer family’s family investment platform and is closely tied to Chanel wealth. Mousse Investments describes itself as a diversified investment firm established in 1979, with a proprietary global portfolio that includes Chanel Limited, the parent company of Chanel’s operating companies worldwide, as well as investments in public and private markets.

This makes Mousse different from a typical advisory firm: it is not seeking outside clients and states that it is not a registered investment adviser. Its investment profile is therefore best understood as long-term proprietary family capital, anchored by Chanel and diversified through public- and private-market investments, rather than as a client-facing family office product platform.

9.Dubai Holding is better classified as a family-linked holding and diversified investment company than a traditional single-family office. Its official site says it has over AED 500 billion (approximately $136 billion）in assets across more than 30 countries and 10 sectors, with activities that support economic growth, quality of life, and sustainability. Its investment portfolio spans real estate, hospitality, retail, media, education, and other growth sectors.

A recent Reuters report also showed its strategic role in Dubai’s real estate market: Dubai Holding became Emaar Properties’ largest shareholder after acquiring a 22.27% stake, raising its total stake to 29.73%.

10.JAB Holding Company is a family-backed investment holding company linked to the Reimann family heritage. It is not a conventional single-family office, but it functions as a long-term family-capital platform with a professional investment structure.

Investment focus: consumer brands, coffee and food businesses, restaurants, pet care, life insurance, annuities, retirement, and reinsurance-related investments.

11.Waycrosse Inc. is a private single-family office based in Wayzata, Minnesota. Its public company profile says it was established over 60 years ago and provides comprehensive wealth management services, including legal, tax, insurance, and investment services.

12.Pontegadea Inversiones is Amancio Ortega’s family holding and investment platform. Its primary source of wealth is Inditex, the parent company of Zara.

Pontegadea’s investment focus is mainly on real assets. Reuters reported that its real estate portfolio exceeded €13 billion and that it received at least €548 million in rental income in 2023. The portfolio includes office buildings, luxury properties, logistics assets, and commercial real estate. Pontegadea has also expanded into energy and infrastructure-style investments, including wind, solar, and other energy assets.

13.The Woodbridge Company is the Thomson family’s private holding company and investment vehicle. It is best understood as a family holding company rather than a public-facing wealth manager. Its most important and verifiable asset is its controlling position in Thomson Reuters, where Woodbridge and its affiliates are the principal and controlling shareholders.

The Thomson family’s investment focus is on Reuters ownership, media and information services, private investments, real estate, and long-term family wealth management.

Tier 3: $20B–$50B offices and platforms：

Rank	Family office	Estimated AUM	Headquarters	Structure type	Investment products	Philosophy
14	Athos KG	$31B	Schwäbisch Hall, Germany	Single-family office	Pharma and life science	Entrepreneurial and value-based investing
15	Bessemer Investors (Phipps Family)	$28B	New York, US	Family-owned multi-family office	Industrials, business services, and consumer.	Patient family capital combined with private equity investing
16	Emerson Collective	$26B	Palo Alto, US	Single-family office	Energy and environment, digital health, fintech, education	large market opportunities meet meaningful impact
17	Soros Fund Management	$25B	New York, US	Single-family office	Public and private equity and credit, fixed income, foreign exchange, alternative assets	Agile and long-term approach
18	The Grosvenor Estate	$25B	London, UK	Family holding	Urban property, food and agtech, rural estate management, philanthropy, and social enterprise	Long-term value creation with commercial, climate, nature, and people objectives.
19	KIRKBI A/S	$24B	Billund, Denmark	Family holding	Equities, real estate, and fixed income.	Long-term value creation and responsible investment
20	Euclidean Capital	$22B	New York, US	Single-family office	Not publicly disclosed	Not publicly disclosed
21	Hartono Family Office	$21B	Jakarta, Indonesia	Single-family office	Not publicly disclosed	Not publicly disclosed

Tier 4: $10B–$20B offices and platforms：

Rank	Family office	Estimated AUM	Headquarters	Structure type	Investment products	Philosophy
22	Fingerboard	$19B	New York, US	Single-family office	Media、entertainment、communications、technology、education	long-term, diversified family-enterprise investment approach
23	Crosby Advisors	$17B	Salem, NH, US	Single-family office	Not publicly disclosed	Not publicly disclosed
24	Haniel Family Office	$16B	Duisburg, Germany	Family-owned holding/family equity company	Diversified family equity portfolio.	Long-term family-owned investor
25	XT Group (Idan Ofer)	$16B	London, UK	Single-family office	Shipping, real estate, energy, banking, technology	Focused on shipping quality, customer service, environmental standards, and long-term business ownership.
26	Builders Vision (Lukas Walton)	$15B	Chicago, US	Single-family office	Food & agriculture, energy, and oceans	Systems-change and impact-investing approach.
27	Koch Disruptive Technologies	$15B	Wichita, US	Corporate VC / Family	Cybersecurity, semiconductors, enterprise software, energy and beyond.	Mutual-benefit investment approach
28	Blue Pool Capital	$14B	Hong Kong	Single-family office	Type 9 Asset Management and Type 1 Dealing in Securities	Not publicly disclosed
29	Abdul Latif Jameel (ALJ)	$14B	Jeddah, Saudi Arabia	Family holding	Financial services, energy and environmental services, health,	Global diversification
30	Lundbeck Foundation	$14B	Copenhagen, Denmark	Foundation investment platform	liquid shares ，bonds. and BioCapital	Long-term foundation ownership model

What top 50 family offices invest in

The largest family offices are not limited to public equities. They often combine public markets, private equity, credit, real estate, direct investments, operating companies, and mission-led capital.

Private equity and direct investments — the core allocation

Goldman Sachs reports that family offices hold 21% in private equity on average, while UBS reports 27% for US family offices and 27% for Europe excluding Switzerland. Direct investing is also central; Citi reports 70% of surveyed family offices engage in direct investments.

Public equities — the main liquid growth sleeve

Goldman Sachs reports an average allocation to public equities of 31% in 2025, up from 28% in 2023. UBS also shows equities as a major holding across regions, including 32% for US family offices and 30% for Europe excluding Switzerland.

Real estate and infrastructure — income, inflation hedge and tangible assets

Goldman Sachs reports 11% in private real estate and infrastructure. UBS shows real estate at 18% for US family offices, 11% for Europe excluding Switzerland and 14% for the Middle East.

Fixed income, cash and private credit — liquidity and yield

Goldman Sachs reports 11% in fixed income, 12% in cash and 4% in private credit. The direction is shifting: 34% plan to reduce cash, while 26% plan to increase private credit.

AI, digital assets, secondaries and sports — rising themes, not core asset classes

Goldman Sachs reports 86% of family offices invest in AI, 33% invest in cryptocurrencies, 72% invest in secondaries and 25% already invest in sports. BNY also reports 83% view AI as a top five-year investment opportunity, and 74% have invested in or are exploring cryptocurrencies.

Get expert financial advice

If you're seeking professional financial advice, Unbiased can match you with a financial advisor who will help you manage your money and maximize your investments.