Key Takeaways
- • Eric and Wendy Schmidt's family office, Hillspire, ranked first on CNBC's inaugural Inside Wealth Family Office 15 list with 15 direct investments in 2025, most of them in artificial intelligence, according to data from private wealth intelligence platform Fintrx.
- • The 15 ranked family offices collectively made more than 120 direct investments in 2025 across robotics, software, biotech, food and beverage, sports and blockchain, with the broader AI trade accounting for more than a third of all disclosed deals.
- • Bezos Expeditions placed second with 14 investments, while Emerson Collective and Raptor Group tied for third with 12 each; all listed offices manage at least $1 billion in assets by Fintrx's estimate.
- • Deloitte expects the number of family offices to grow from 8,000 last year to more than 10,700 by 2030, and family offices hold over $3 trillion in assets, drawing growing competition from private banks, asset managers and private equity firms.
- • The ranking counts only publicly disclosed direct investments, excludes real estate and investment amounts, and may not capture all deals, since family offices are not required to disclose their activity.
Summary
Eric and Wendy Schmidt's family office, Hillspire, claimed the top spot on CNBC's inaugural Inside Wealth Family Office 15, a list ranking the most active large U.S. single-family offices by the number of publicly disclosed direct investments in 2025. According to exclusive data from private wealth intelligence platform Fintrx, Hillspire made 15 investments last year, most in artificial intelligence. Those included Gradium, a Paris-based AI voice company spun out of the French lab Kyutai, Reflection AI, a startup founded by two former Google DeepMind researchers, a fusion company, and Peek, a software marketplace for travel and experiences.
Jeff Bezos' Bezos Expeditions ranked second with 14 investments, backing Unconventional AI, which aims to build a more energy-efficient AI computer, and Physical Intelligence, a robotics startup, alongside OpenAI and Thrive Capital. Its one notable non-AI deal was Arrived, a platform that lets investors buy shares of rental homes for as little as $100. Emerson Collective, founded by Laurene Powell Jobs, and Jim Pallotta's Raptor Group tied for third with 12 investments each. Emerson invested in Humans&, an AI startup, and Chai Discovery, which applies AI to drug discovery, while Raptor focused on electronics and software.
The 15 family offices collectively made more than 120 investments, and AI, tech and software together accounted for more than a third of all deals disclosed by the group, with health care and biotech the next largest sectors. The dominance of AI reflects a JPMorgan survey in which 65% of family offices cited AI as their top investment priority. CNBC noted that the list does not include investment amounts and may not capture every deal, because family offices are not required to disclose assets or returns. About half of the firms listed declined to comment.
The report also points to structural growth in the segment. According to Deloitte, family offices are expected to increase from 8,000 last year to more than 10,700 by 2030. With more than $3 trillion in assets, they are becoming a significant force in M&A, startup funding and private capital raises, and they are drawing interest from private banks, asset managers, private equity firms and insurers. Most listed offices were founded by first-generation wealth creators from tech or finance, though a growing number are controlled by next-generation heirs with an impact focus, such as Builders Vision, led by Walmart heir Lukas Walton, which invested in sustainable food and agriculture companies and clean aviation fuel producers in 2025.
Jeff Bezos' Bezos Expeditions ranked second with 14 investments, backing Unconventional AI, which aims to build a more energy-efficient AI computer, and Physical Intelligence, a robotics startup, alongside OpenAI and Thrive Capital. Its one notable non-AI deal was Arrived, a platform that lets investors buy shares of rental homes for as little as $100. Emerson Collective, founded by Laurene Powell Jobs, and Jim Pallotta's Raptor Group tied for third with 12 investments each. Emerson invested in Humans&, an AI startup, and Chai Discovery, which applies AI to drug discovery, while Raptor focused on electronics and software.
The 15 family offices collectively made more than 120 investments, and AI, tech and software together accounted for more than a third of all deals disclosed by the group, with health care and biotech the next largest sectors. The dominance of AI reflects a JPMorgan survey in which 65% of family offices cited AI as their top investment priority. CNBC noted that the list does not include investment amounts and may not capture every deal, because family offices are not required to disclose assets or returns. About half of the firms listed declined to comment.
The report also points to structural growth in the segment. According to Deloitte, family offices are expected to increase from 8,000 last year to more than 10,700 by 2030. With more than $3 trillion in assets, they are becoming a significant force in M&A, startup funding and private capital raises, and they are drawing interest from private banks, asset managers, private equity firms and insurers. Most listed offices were founded by first-generation wealth creators from tech or finance, though a growing number are controlled by next-generation heirs with an impact focus, such as Builders Vision, led by Walmart heir Lukas Walton, which invested in sustainable food and agriculture companies and clean aviation fuel producers in 2025.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.