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

Billionaire families in the US and Southeast Asia say higher taxes are the biggest risk over the next five years, topping other concerns including major conflicts and climate change, according to a new report.

A UBS Group AG survey of family offices — the firms set up by the world’s richest clans to manage their lives and wealth — found higher taxes were cited as the top five-year risk by 73% of US and 59% of Southeast Asian respondents.

By contrast, despite ongoing wars in Ukraine and Gaza, only 55% of US and 52% of Southeast Asian family offices respectively ...