Tiger 21 Founder Michael Sonnenfeldt reveals where the rich are putting their money right now

Tiger 21 Founder Michael Sonnenfeldt reveals where the rich are putting their money right now

but is the big bounce back on tack techa officially on he said that was a lot by the seashore our next guest giving you a glimpse of what the ultra Rich think joining us now is Michael sonnenfeld he is the founder of tiger 21 now more than 1400 Global members they collectively manage personal assets of more than $160 billion doll honored to speak at your conference just fantastic people by the way thank you always amazed at how many people have gotten super rich on Self Storage also I just want to point that out um so Michael good to see you again get the pulse check and I always the thing that shocked me about your conference we go through this data is your members they’re not really stock they don’t stocks aren’t their thing yeah it’s now under 19% that’s the first time in many years fell down from mid 20s all the way to 19% why is that because our members are entrepreneurs who created businesses so they’re more comfortable with small businesses private Equity private equities that an alltime High 29% and uh that and real estate 28% combined those two are over 50% of their portfolios when you have the skills to roll up your shirt sleeves and manage something or get involved in it you want to be able to touch it feel it see it see a problem work on a problem when you own stock you’re the last to know of the problem and it’s generally after the stock has dropped that’s well said um private Equity is interesting because private equity he used to be really the realm of the super duper duper Rich the nine digigit Club billionaire hedge funds right all your members are wealthy but not all of them are super duper Rich they’re not billionaires right has private Equity become more democratized over the years absolutely because private Equity is small companies it’s funds in small companies you don’t have to just invest five or 10 million in a big fund when you start a business and that business grows that’s private equity and that’s about third of the private Equity allocation it’s where our members really can have an edge and they learn from one another in our groups what’s hot and they can work with each other it’s really amazing and crypto crypto I’m not saying crypto is all the rage but direct crypto ownership in your latest survey has has soared they love they love the Bitcoin you know Bitcoin has been the top performing asset in something like eight of the last 11 years and the number one performing asset it’s still a very small allocation but unlike gold we used to have gold bugs we have Bitcoin owners many many many and I think about 38% of our members actually own Bitcoin or other cryptocurrency that’s a huge huge number yeah it really is we’re looking at the survey here net buyer no change there but they have a lot of buyers and then last thing we talked earlier about this tax proposal Senator Heidi hiid Camp said it’ll never happen but talk to us also and there’s a lot of our viewers are wealthy a lot of your members are probably watching and listening right now about the importance of good investing in good tax strategy how key is that well obviously uh if you invest in two assets and one is going to produce a long-term capital gain and the other is going to produce income everything else the same you want the long-term capital gain and that’s why I invest in businesses and real estate because you’re taxed at a much lower rate we’ll see whether this proposal goes through I I think it’s probably Dead on Arrival but we do need to balance our budget and uh whether you get all the way to 44% I think taxes are going up

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