I’m a Wealth Manager: 5 Things Billionaires Do That You Don’t

Core Insights - Billionaires manage their finances differently than regular investors, focusing on holistic strategies that integrate all accounts into one portfolio [2][3][4] - Philanthropy is a strategic component of their financial planning, providing tax advantages and legacy opportunities [6][7][8] Group 1: Portfolio Management - Billionaires treat all their accounts as one large portfolio, allowing for better risk management and tax efficiency [3][4] - They utilize equity portfolios made up of exchange-traded funds (ETFs) instead of mutual funds, which are generally less expensive and more tax-efficient [4][5] Group 2: Philanthropic Strategy - Billionaires approach charitable giving with the same strategic mindset as investments, using methods like private foundations and donor-advised funds [6][7] - This strategic philanthropy not only supports causes they care about but also provides significant tax benefits and opportunities for legacy building [8]