Davos has come to the Hamptons with billionaire families, global leaders and some of the most significant family offices meeting at a private home in Southampton at the end of August for a one day forum to discuss issues affecting the global elite and 1%. Welcome to ultimate velvet rope and the 1640 Society Family Office Wealth Forum. Topics ranged from impact investing, philanthropy, family governance, cyber security, asset allocation and wealth preservation, to ensuring safety aboard your private jet. Families flew in from all over the globe from Saudi Arabia, Bahrain, Israel, Europe, Asia and another from Australia just to attend this sought after annual event. NetJets had a Citation Latitude jet docked outside the home that families used as a plush meeting space or place to take calls onboard the jet.
The audience was comprised of some of the most interesting and dynamic people from all over the globe including those who summer in the Hamptons, and others who flew in to attend such as sheiks from the Middle East, self-made billionaires and their heirs as well as their Chief Investment Officers, who make key financial decisions for the families . Some families traveled with a security detail, including a family member had been kidnapped and held for a $40 million euro ransom. Other colorful characters would exchange stories of buying professional baseball and soccer teams.
On one of the thought provocative panels was Kay Koplovitz, Founder of USA Network who spoke with Jeff Skoll’s principal on impact investing and her efforts to support fellow women entrepreneurs. Hadi Al Alawi, Chairman of Al Hayat Group in Bahrain discussed family legacy issues, and how passing on values to your children is more important than handing down the wealth. The Jacobson family touched on how she married the love of her life – a hedge fund manager, after her father had her attending LP investor meetings from the time she was a teenager. Tim Draper discussed entrepreneurialism and education initiatives while next generation family business leaders such as Andrea Catsimatidis, Ben Bronfman and John Kluge shared stories of family legacy, philanthropy and helping refugees.
Over lunch, moguls had the time to network over fresh Hamptons summer fare with a performance by pop singer Nicole Raviv. Families who have attended include some of the leading names in America including the Firestones, Ford’s, Rockefeller’s, Kennedy’s, Bronfman’s, Kettering’s, Hunt’s, Pitcarin, Getty’s, Dean Witter heirs & entrepreneurs such as Musk who co-founded Paypal, along with international magnates including the Mittal family from India and Pears families from Europe. With only 200 people in attendance, the 1640 Society keeps the Forum ultra exclusive with all attendees going thru a rigorous approval process by the Steering Committee with voting akin to the old money country clubs. This is the one weekend out of the summer causing traffic jams in Westhampton airport with over 30 private air craft flying in just for this exclusive and highly anticipated event that only happens once a year.