Mukesh Ambani

India's second richest man Mukesh Ambani is setting up a family office in Singapore. Singapore has become a growing preference to set up family offices, ...

Singapore has become a hub for family offices of the wealthy, the report added, crediting its low taxes and relative security. Singapore has become a growing preference for the wealthy to set up family offices, including Google co-founder Sergey Brin. The family is yet to confirm the development.

Lured by low taxes, many ultra-rich people have established offices in Singapore in recent years, including Sergey Brin and James Dyson.

He heads India's [Reliance Industries](https://www.bloomberg.com/profile/company/RIL:IN), which operates primarily in the energy industry. [Billionaires Index](https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/). It also has an interest in telecommunications and runs [Jio Infocomm](https://www.bloomberg.com/profile/company/3656749Z:IN). A few months later in October 2021, Oppenheimer Generations — which is linked to former De Beers chairman Nicky Oppenheimer — also set up a unit in Singapore, per [Bloomberg](https://www.bloomberg.com/news/articles/2021-10-19/family-who-exited-de-beers-for-5-billion-seeks-out-asia-s-rich). He joined the ranks of vacuum-cleaner billionaire James Dyson, who already had a family office in the city from when he relocated his company's headquarters to Singapore in 2019. He also wants the Singapore outpost to be operational within a year.

Asia's second-wealthiest man, Reliance Industries Ltd. Chairman Mukesh Ambani, is setting up a family office in Singapore, according to people familiar with ...

in the country, including in streaming. His wife Nita Ambani is also helping to set it up, the people added. in April 2021, adding an iconic UK locale that's been the setting for two James Bond films. The city-state has become an attractive hub for family offices thanks to its low taxes and relative security. "You will hear more about our international plans in the times to come," he had said at the time. The Ambanis have also chosen real estate, one of the people said.

SINGAPORE (The Strait Times/Asia News Network): Asia's second-wealthiest man, Reliance Industries chairman Mukesh Ambani, is setting up a family office in ...

His wife Nita Ambani is also helping to set it up, the people added. Reliance paid US$79 million (S$113 million) for Stoke Park in April 2021, adding an iconic British locale that has been the setting for two James Bond films. In 2020, its technology venture Jio Platforms lured more than US$25 billion from marquee Silicon Valley investors including Meta Platforms and Google. Singapore has become an attractive hub for family offices thanks to its low taxes and relative security. The Ambanis have also chosen real estate, one of the people said. Ambani, who is worth an estimated US$83.7 billion, according to the Bloomberg Wealth Index, wants the Singapore family office to be running within a year, one of the people said.

Mukesh Ambani, Chairman, Reliance Industries Ltd, is setting up a family office in Singapore. The Mumbai-based business tycoon is the latest in a series of ...

in the country, including in streaming. “You will hear more about our international plans in the times to come,” he said. Mukesh Ambani, Chairman, Reliance Industries Ltd, is setting up a family office in Singapore.

Mukesh Ambani, the second-wealthiest person in Asia, is setting up a family office in Singapore, per Bloomberg.Ambani is the chairman of Reliance Industries ...

[Billionaires Index](https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/). It also has an interest in telecommunications and runs [Jio Infocomm](https://www.bloomberg.com/profile/company/3656749Z:IN). A few months later in October 2021, Oppenheimer Generations — which is linked to former De Beers chairman Nicky Oppenheimer — also set up a unit in Singapore, per [Bloomberg](https://www.bloomberg.com/news/articles/2021-10-19/family-who-exited-de-beers-for-5-billion-seeks-out-asia-s-rich). He heads India's [Reliance Industries](https://www.bloomberg.com/profile/company/RIL:IN), which operates primarily in the energy industry. He joined the ranks of vacuum-cleaner billionaire James Dyson, who already had a family office in the city from when he relocated his company's headquarters to Singapore in 2019. Apart from oil refinery, the company controls a vast network of retail stores for groceries, clothing, jewelry, and toys, per its [2021 annual report](https://www.ril.com/getattachment/57c07cd8-3cba-457b-a972-c02524df79b6/AnnualReport_2020-21.aspx). He also wants the Singapore outpost to be operational within a year. [followed in their footsteps](https://www.bloomberg.com/news/articles/2021-02-03/google-co-founder-brin-s-family-office-to-open-in-singapore), and set up a family office in the city in February 2021. [Monetary Authority of Singapore](https://www.mas.gov.sg/news/parliamentary-replies/2022/reply-to-parliamentary-question-on-family-offices-registered-in-singapore) (MAS) in July 2022. [set up a Singapore family office](https://www.bloomberg.com/news/articles/2020-11-26/billionaire-ray-dalio-set-to-open-family-office-in-singapore) to manage his Asian investments. [per](https://www.bloomberg.com/news/articles/2022-10-07/billionaire-mukesh-ambani-to-open-family-office-in-singapore)Bloomberg. [reported](https://www.bloomberg.com/news/articles/2022-10-07/billionaire-mukesh-ambani-to-open-family-office-in-singapore), citing sources with knowledge of the move.

“Though the Ambanis had set up a family office in Mumbai much earlier, their investments were majorly into RIL. Even the acquisitions and part stake deals were ...

Singapore’s reputation as a safe haven for wealth and for attractive tax incentives, is also leading to an increase in UHNIs setting up family offices in the country. Most recently, Oppenheimer Generations, the family office of former De Beers chairman Nicky Oppenheimer, opened a post in the country. Ambani, Asia’s second-richest man, has already set up an office in Singapore and appointed a person to head it.