Google co-founder Sergey Brin is the latest to set up a family office in Singapore, as the city-state continues to lure new billionaires as the ultra-high net worth individual hub of choice.
Sergey Brin’s Bayshore Global Management established an office in Singapore late last year, according to corporate documents, under the name North Bayshore – the same name as the area where Google’s headquarter is located.
It is held under holdings company Parachute Capital (SGP) which lists Marie Young, who is also the deputy chief investment officer of Bayshore Global Management, as its director.
Brin is the co-founder of Google and the ninth richest person worldwide, according to the «Bloomberg Billionaires Index», with a net worth of $86.4 billion.
Family Office Inflows
Singapore continues to attract new wealth from billionaires with tax breaks and other incentives through agencies such as the Economic Development Board.
Brin’s North Bayshore joins a growing list of family offices in the city-state that have been set up in recent years by other billionaires including hedge fund boss Ray Dalio, vacuum cleaner maker James Dyson and hotpot tycoon Shu Ping.
