As family offices in the Middle East continue to expand in influence and sophistication, new insights from J.P. Morgan shed light on how the world’s most affluent families are navigating a rapidly changing global landscape. The bank’s 2025 Principal Discussions Report, released this week, captures the perspectives of 111 billionaire principals across 28 countries, including a strong representation from the Middle East, offering a rare glimpse into how enduring wealth is being redefined across generations.

“We are honoured to serve these families and learn from their experiences,” said Andrew L. Cohen, Executive Chairman, Global Private Bank. “Their openness and candor offer invaluable lessons for anyone seeking to build enduring wealth with lasting impact.”

The study highlights a profound shift in how ultra-high-net-worth individuals define their concept of prosperity. More than 90% of respondents believe that true wealth lies in time, health, and relationships, while nearly 85% equate success with helping others and leading with integrity. “Principals remind us that prosperity is about much more than financial capital,” said Cohen. “Their perspectives challenge us to rethink what it means to build enduring wealth—placing purpose, connection, and stewardship at the centre of their journey.”

Despite their optimism, principals remain highly attuned to global volatility. Sixty-three percent cited geopolitical tensions as their top concern, prompting a need for more structured and diversified investment strategies. Meanwhile, 79% are integrating AI into their personal lives, and 69% are integrating it into their businesses—striking a balance between innovation and human judgment. “AI is opening new doors for families and their enterprises,” Cohen noted. “But true success lies in balancing innovation with discernment.”

Investment portfolios are also evolving. 34% of principals now hold stakes in sports teams, while 23% invest in art and 10% in cars, combining financial strategy with personal passion. “Ownership has evolved from a hobby into a sophisticated business and a unifying force for families,” Cohen added.

In the EMEA region, Natacha Minniti, Head of 23 Wall International at J.P. Morgan, observed that 68% of principals identify geopolitics as the greatest risk. “Amid this wave of innovation and diversification, adaptability and entrepreneurship are essential for sustaining legacy and capturing new opportunities,” she said.