Asia’s second richest man Mukesh Ambani is set to open his family office in Singapore. A manager has already been appointed for the Singapore office. He has been given the responsibility of hiring new staff. The Indian media reported this information by quoting a related source. However, the spokesperson of Mukesh Ambani’s company, Reliance, was not available for comment. The article contains Mukesh Ambani Expanded Business in Singapore.
The world’s super-rich has already started choosing Singapore to expand their family businesses. Among them are billionaire Ray Dalio and Google co-founder Sergey Brin. The latest addition to that continuum is Mukesh Ambani’s family. Singapore has become an attractive location for this ultra-rich to open family offices due to its low tax policy and improved security. The country’s monetary policy authority estimates that at least 700 wealthy family offices opened operations in Singapore in 2021, up from 400 the previous year.
Mukesh Ambani owns various businesses. Reliance Group, owned by him, has established itself as the best in multiple sectors, from oil refineries to petrochemicals, e-commerce, and renewable energy. He now wants to expand the scope of these businesses beyond India. As part of this, a new office is being opened in Singapore. In addition, he indicated the internationalization of his family business in 2021. At that time, he said, the announcement of new international plans will continue to come soon.
In April 2021, this billionaire bought Stoke Park in the United Kingdom for 79 million dollars. In January, Ambani’s Reliance Group indirectly bought a 73.4 percent stake in the luxury Mandarin Oriental Hotel. In addition, he also bought a luxurious beach villa in Dubai, for which 8 million dollars have to be counted.
According to Bloomberg statistics, Mukesh Ambani’s net worth is $8,370 million. He is now moving forward with the plan to start the Singapore office this year. And his wife, Nita Ambani, is helping him with this work.
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