"At the same time, the number of high-net-worth individuals is growing. At the turn of the century, 322 people were on the Forbes' list of billionaires; now, there are more than 3,000. Also, the number of "everyday millionaires," or those across the globe with $1 to $5 million in investable assets, has quadrupled to 52 million over the past 25 years, according to a recent UBS report."
"With more millionaires and billionaires than ever, staffing needs for the mansions, planes, and yachts they buy have risen, Brian Daniel, the founder of Celebrity Personal Assistant Network, a staffing agency for the ultra-rich, told Business Insider on Tuesday. "There are so many wealthy people, and they're not just buying one estate," Daniel said. "There's never been a better opportunity in history to get into private service, because each one of these billionaires employs small armies of people to cater to their every whim.""
An uncertain job market with mass layoffs and accelerated AI integration is pushing Gen Z to seek work outside corporate America. The number of billionaires grew from 322 at the turn of the century to over 3,000, and "everyday millionaires" with $1–$5 million in investable assets quadrupled to 52 million in 25 years. That wealth expansion has increased demand for private staffing for mansions, planes, and yachts. Private-staffing agencies have proliferated to about 1,000 globally, roughly half in the U.S. High-net-worth nanny salaries can start near $100,000–$150,000, and 18% of U.S. Gen Z respondents say they would need $1 million per year to feel financially free.
Read at Fortune
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