Billionaires and millionaires are going nuts with their personal staffs
As the number of billionaires and multimillionaires grows, so does the industry of running their personal and professional lives, reports Bloomberg's Margaret Collins.
Via private companies that often employ 50 people or more, they hire everything from Wall Street-trained money managers to personal archivists to yacht captains, Collins reported.
The business of connecting these specialists to the ultra-wealthy is growing too. Aston Pearl works with single-family offices worth $400 million or more, and said they're always in demand of employees "who can be trusted to keep the familes' private lives confidential," according to Bloomberg.
But seriously, the people they're hiring are crazy. They range from college advisers to cyberscurity experts to private chefs who earn up to $200,000 - and, of course, highly-experienced chiefs of staff. They hire ex-Navy Seals and Swat operators for personal security, and ex-Secret Service or FBI agents to guard their homes.
Microsoft co-founder Paul Allen reportedly has a personal staff of 500 people, 17 of which are dedicated to managing his personal invesmtent portfolio.
Read the full story over at Bloomberg »