Chicago Booth has launched a new Family Office Initiative aimed at meeting the educational, research, and networking needs of current and future family office leaders worldwide.
This initiative draws on the University of Chicago’s historical connection to the family office model, which began when John D. Rockefeller established what is considered the first full-service single family office in the U.S. in 1882, before founding the university.
Rockefeller’s decision to build his own wealth management structure, rather than rely on costly firms, set a precedent for affluent families to create their own family offices for managing investments, taxes, estate planning, and philanthropy.
Today, the wealthiest individuals, such as Jeff Bezos and Bill Gates, continue to use family offices to manage their financial affairs.
Chicago Booth’s new initiative is one of the first comprehensive programs offered by a major academic institution that focuses specifically on family office leaders, as opposed to broader family business programs.
The initiative will leverage Booth’s research expertise and global resources to support family office leaders as they navigate this growing and essential sector.
The Family Office Initiative also features a steering committee and a council of over 50 prominent family office leaders from respected U.S. and European family groups.
These experts, including Booth alumni, will drive the initiative’s networking mission, providing a robust support system for the family office community.
