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Con man "Sir" Anthony Ritossa is back. Oligarchs and family offices. What Trump means for family offices
Mr FamilyOffice
January 27, 2025
FAMILY OFFICE BUZZ
A weekly collection of family office news and highlights. Included this week:
Family office con man "Sir" Anthony Ritossa is back
Oligarchs and their reliance on family offices
How the Trump administration will impact family offices
Crypto’s richest man opens a family office
Exit taxes: popular and ineffective
𝕏 highlights
New money converting to old money.
Crypto's richest man Chanpeng Zhao, worth some $70 billion, has a new family office
— Bloomberg Crypto (@crypto)
2:18 PM • Jan 23, 2025
AI is a hot topic.. here’s how the family office of Google’s former CEO is investing.
Eric Schmidt's family office invests in 22 AI startups
— CNBC (@CNBC)
2:48 PM • Jan 21, 2025
Personal finance habits of wealthy founders.
something I noticed in our Wealth Report:
76% of wealthy founders manage their own investments instead of using advisors.
And as net worth climbs, they actually use FEWER financial advisors.
Amongst a lot of my successful founders buds, the tends to be the move: they actively… x.com/i/web/status/1…
— Sam Parr (@thesamparr)
12:45 PM • Jan 22, 2025
AI will be better than humans at everything. What a time to be alive!
Two to three years until "AI systems are better than humans at almost everything... then eventually better than all humans at everything," says Anthropic CEO.
— unusual_whales (@unusual_whales)
4:01 PM • Jan 26, 2025
Exit taxes are becoming more popular in Europe. (One defensive strategy: acquire more passports. More on that here).
In a second stiffening of rules in as many years, rich Norwegians will now pay levies on dividends if they plan to remain outside their fatherland.
Enthusiasm for exit taxes is replicated across Europe, even though they are often counter-productive 👇
— The Economist (@TheEconomist)
9:48 AM • Jan 26, 2025
in LinkedIn highlights
Goldman Sachs wealth management group publishes their outlook on the year ahead.
Thoughts on what the new administration means for family offices in North America.
Wealthy millennials and GenZ are transforming the auction business.
📰 family office news roundup
Family Office con man "Sir" Anthony Ritossa comes back with conferences in Dubai and Miami. Anthony Ritossa, previously exposed for fabricating his background and facing multiple legal issues, is attempting a comeback by organizing the "Global Family Office Investment Summit" in Dubai and Miami. Despite omitting his name from event promotions, sources confirm his involvement - Opalesque
Millionaires in Dubai make everyone else feel poor. Millionaires in Dubai make everyone else feel poor The influx of ultra-rich expats is putting pressure on the lifestyles of the merely wealthy. Wealth advisory firm Henley & Partners estimated that 6,700 millionaires arrived in the United Arab Emirates in 2024. - Financial Times
Family offices are paying Executive Assistants up to $190,000 a year as demand for talent spikes. Executive assistants to ultra-wealthy individuals juggle high demands, isolation, and organizational challenges to manage their clients' private lives. Salaries range from $80,000 to $250,000, with higher pay for roles involving travel - CNBC
Future Oligarchs And The Role Of The Family Office. An article on the emergence of modern oligarchs and how they utilize family offices to manage their complex financial and political interests. These oligarchs often accumulate wealth through entrepreneurship and may enhance their influence via philanthropy and strategic relationship-building - Financial Advisor
Playing it safe is no longer an option for family offices. Family offices are shifting from traditional 'safe haven' investments due to geopolitical tensions, legislative changes, and evolving generational priorities. To mitigate risks, they're exploring high-growth and emerging markets, employing innovative structures and co-investment strategies - Professional Wealth Management
In case you missed it, last Friday’s newsletter was on transferring real estate.
This Friday will be a look at family offices and hiring.
Until then, see you on 𝕏 or LinkedIn.
in LinkedIn
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