This podcast features a discussion among three hosts and a guest, Robert Frank, CNBC's wealth editor, about the evolving landscape of wealth and its impact on the economy. The conversation covers the rise of family offices, generational wealth disparities (particularly within millennials), the wealth effect, and the implications of these trends for various sectors, including luxury goods and real estate. Frank highlights the increasing concentration of wealth among the top 1% and the shift towards experience-based spending. A key takeaway is the significant wealth transfer expected over the next 30 years, amounting to $100-130 trillion, and its potential consequences for economic growth and social inequality. Listeners gain insights into the dynamics of high-net-worth individuals and the businesses that cater to them.
