Sergey Brin, The Co-Founder of Google, Opens a Family Office in Singapore
/To help manage his wealth, the Google co-founder opened a family office in Singapore.
A family office is a privately held company that manages the investments and wealth of a wealthy family, usually with over US$100 million in investment assets, with the goal of efficiently growing and transmitting wealth from generation to generation. The financial capital of the company is the family's own wealth.
"According to the documents filed with the regulator, the Singapore office of Brin's US-based Bayshore Global Management will mainly focus on managing family investments." - writes enca.
Recently, many wealthy people have chosen this particular city-state to open family offices. For example, British billionaire inventor James Dyson also opened a family office to manage his fortune.
At the moment, there are about 200 family offices in Singapore, which control assets worth about US$20 billion.
Singapore attracts wealthy people due to political stability, low tax rates, and the ability to obtain permanent residence.
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