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Joining many of the world’s richest individuals such as James Dyson, Sergey Brin and Li Ka-Shing, India’s Mukesh Ambani will set up an office in Singapore.
Ambani as chairman of Reliance Industries Ltd, India’s most valuable company. He is the second richest person in Asia next. billionaire Gautam Shantilal Adani, also from India.
Family Office is a private wealth management firm serving ultra-high net worth individuals with $1 million or more of liquid financial assets.
These companies manage the investments and finances of wealthy individuals and families and provide consulting services on many aspects of finance, including tax, insurance, donations, and wealth transfer.
We have single-family offices as well as offices that serve multiple clients.
Ambani’s plans to open such an office in Singapore were reported by Bloomberg on Friday, citing people familiar with the move.
Office real estate has already been selected and a manager has been hired to staff and set up the business entity.
multinational conglomerate Co-founded by Ambani’s father in the 1960s, Reliance Industries Limited, headquartered in Mumbai, is an energy, petrochemical, Natural gas, retail, Telecommunications, Mass mediaWhen textile field.
Since joining the company in 1981, owns Indian Premier League franchise Mumbai Indians too.He also Founder of indian super leagueis a football league and is listed by Forbes as one of the wealthiest sports owners in the world.
welcome to the club
Earlier last year, Google co-founder Sergey Brin was reported to have a net worth of US$82.2 billion (SGD118 billion). had opened a branch of his family office in Singapore to manage his wealth.
Brin currently ranks as the eighth richest person in the world, according to the latest Bloomberg Billionaires Index.
It was just reported in May of this year. Li Ka-Shing, Hong Kong’s richest man, also plans to open an office in SingaporeHis net worth is said to be US$33.1 billion (SGD47.4 billion).
Lee operates the largest health and beauty retailers in Europe and Asia and is a major global port investor. Horizons Ventures, Li’s private investment firm, was to open a new Singapore office, its first outside of Hong Kong.
The Weyborn Group, the company of British inventor Sir James Dyson, also established a family office in 2019. That same year, he spent his S$78 million on the top floor of Singapore’s tallest building, the Guoco Tower. Dyson’s net worth is estimated at his US$7.1 billion (SGD10.2 billion).
Bloomberg reported in November 2020 that Bridgewater Associates founder hedge fund billionaire Ray Dalio (net worth of US$19.1 billion, or S$27.4 billion) has also opened a family office in Singapore. /TISG
Why millions of dollars are pouring into Singapore, especially from China’s wealthy
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