Billionaires in US, Southeast Asia Say Higher Taxes Are Top Risk.

According to a report by UBS Group AG, billionaire families in the US and Southeast Asia consider higher taxes to be the biggest risk over the next five years, surpassing concerns such as major conflicts and climate change. The survey of family offices, which manage the lives and wealth of the world's richest clans, found that 73% of US and 59% of Southeast Asian respondents identified higher taxes as the top five-year risk. Despite ongoing wars in Ukraine and Gaza, only 55% of US and 52% of Southeast Asian family offices cited "major geopolitical conflict" as a top risk. The survey also revealed that family offices across all regions combined ranked geopolitics as the biggest risk over the next 12 months and five years, followed by climate change. This comes as governments worldwide are exploring ways to increase revenue from the super rich. The UBS Global Family Office Report had 320 respondents, with an average net worth of $2.6 billion. [Extracted from the article]

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