Turning New Wealth into a Lasting Legacy: Why Romania’s Entrepreneurs Are Embracing Family Offices

Romania is experiencing an unprecedented rise in wealth creation. In just a few decades, the country has moved from the challenges of a post-communist economy to producing a generation of self-made, high-net-worth individuals. By 2021, more than 100,000 Romanians had a net worth exceeding $1 million, with around 1,800–1,900 meeting the ultra-high-net-worth threshold of $30 million or more — among the highest concentrations in Central and Eastern Europe. By 2024, according to studies such as Forbes, Romania was home to six billionaires.

But with prosperity comes a new set of challenges. Many of these fortunes are first-generation, built through entrepreneurial grit, and now their creators face the complex task of transforming rapid success into enduring legacy. This shift in priorities is fueling the rise of multi-family offices (MFOs) — holistic wealth management hubs designed to safeguard, structure, and grow family fortunes across generations.

The Distinct Challenges of First-Generation Wealth

Unlike inheritors of old wealth, Romania’s first-generation millionaires often have their fortunes tied up in their own companies or in local real estate. This high concentration leaves them vulnerable to domestic economic swings and political and regional uncertainties. In addition, formal succession planning remains uncommon — only about 31% of wealthy families have a structured plan for transferring leadership and assets to the next generation. Without careful planning, a “tidal wave” of wealth transfer could result in fragmented businesses and diluted legacies.

Cross-border complexities further complicate matters. As families become more global — with heirs studying, living, or working abroad — navigating multiple legal systems, tax frameworks, and inheritance laws requires sophisticated coordination.

Why Multi-Family Offices Are Becoming the Go-To Solution

MFOs act as strategic partners, bringing together legal, financial, and investment expertise under one roof. Their value lies in integrating all aspects of wealth management into a coherent, forward-looking plan. Core benefits include:

• Wealth Structuring & Asset Protection: Implementing legal structures like holding companies, trusts, or foundations, and diversifying holdings internationally to mitigate local risks.
• Succession Planning & Legacy Building: Preparing heirs to inherit not just wealth, but also values and leadership roles, ensuring smooth business continuity.
• Global Investment Diversification: Expanding portfolios beyond local markets to balance growth potential with stability.
• Access to Alternative Investments: Opening doors to opportunities like private equity, venture capital, and international real estate.
• Lifestyle & Concierge Services: Handling high-value personal assets and logistical needs, allowing families to focus on impact and purpose.

From Growth to Continuity

For Romania’s entrepreneurial elite, the question is no longer only “how to grow wealth” — it’s also how to protect it, diversify it, and ensure it outlives its creators. The family office model, once reserved for dynastic wealth in mature economies, is proving to be just as relevant — if not more so — for nations where fortunes are being built in real time.

In this new chapter of Romanian wealth, success will be measured not only by balance sheets but by the ability to pass on stability, vision, and values. For first-generation entrepreneurs, the move toward structured, professionalized family wealth management could be the defining factor between a fortune that fades — and one that becomes a lasting legacy.