# Professor Matthew Richardson is interviewed about the growing popularity of family offices among the wealthy

1 Faculty News July 17, 2017 ![OZY logo](/sites/default/files/styles/246w/public/assets/images/ozy192x144.jpg?itok=GNkYVaPM)>

Excerpt from [OZY](http://www.ozy.com/acumen/move-over-hedge-funds-heres-where-the-megarich-stash-their-cash/79555) -- "So what do family offices do with their secretive trillions? They tend to favor long-term investing in order to preserve wealth over multiple generations, says [Richardson](http://www.stern.nyu.edu/faculty/bio/matthew-richardson). And since they tend to be overexposed in certain industries — the megawealthy have been known to hold on to a disproportionate chunk of the company that made them rich — ‘Wall Street has to be creative in helping them manage those risks,’ he explains."

[Read more](http://www.ozy.com/acumen/move-over-hedge-funds-heres-where-the-megarich-stash-their-cash/79555)