Billionaire Mukesh Ambani To Open Family Office In Singapore: Report
NDTV
The Mumbai-based billionaire has picked a manager to hire staff for the new entity and get it running, the people said, asking not to be identified because the matter is private. The Ambanis have also chosen real estate, one of the people said.
Asia's second-wealthiest man, Reliance Industries Ltd. Chairman Mukesh Ambani, is setting up a family office in Singapore, according to people familiar with the move.
The Mumbai-based billionaire has picked a manager to hire staff for the new entity and get it running, the people said, asking not to be identified because the matter is private. The Ambanis have also chosen real estate, one of the people said.
A spokesman for Reliance, who also represents Ambani, wasn't available for comment.
Ambani is the latest in a series of ultra-rich people to pick Singapore for their family offices - the organizations set up to manage the affairs of wealthy clans - joining the likes of hedge fund billionaire Ray Dalio and Google co-founder Sergey Brin.
