Billionaires Are Adapting to Trump’s New World Order

Hi, it’s Ben Stupples and Devon Pendleton here. Welcome to the May edition of Family Office Focus, our monthly offering for Wealth newsletter subscribers that puts in one place our scoops, insight and analysis about these large pools of capital, who oversees them, and what it all means for financial markets.

Let’s roll back the clock a little. When billionaires, top bankers and politicians made their annual pilgrimage to the Swiss Alps for the World Economic Forum in mid-January, geopolitics was already a hot topic. US troops had just ousted Venezuelan strongman Nicolas Maduro in the ultimate new year’s surprise for American allies and enemies, and Donald Trump was upping his rhetoric over acquiring Greenland. Few of the global elite, though, could have predicted how rapidly simmering geopolitical tensions would boil over into warfare.