Singapore’s stable economic and political landscape is attractive to the uber-rich.
California-based Bayshore Global Management firm, the family office of Google co-founder Sergey Brin, has set up shop in Singapore.
According to reports, Brin’s family office was established in late 2020.
Brin is the ninth richest person in the world with a networth of more than $114.9b (US$86.5b), according to the Bloomberg Billionaires Index.
Brin isn’t the only uber-rich that Singapore has been attracting. According to the Money Authority of Singapore, Singapore is home to roughly 200 single-family offices managing assets valued at around $20 billion.
Billionaires, such as inventor and entrepreneur James Dyson and Haidilao International Holding Ltd co-founder Shu Ping, also have family offices in the city-state, whilst hedge fund manager and philanthropist Ray Dalio plans to open one in the country.