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The billionaire co-founder of Google, Sergey Brin, is setting up a family office in Singapore, according to Bloomberg.
The 47-year-old — ranked the ninth richest person in the world — will join the likes of British inventor James Dyson in taking advantage of Singapore's low taxes, high security and generous incentives for family offices.
Bloomberg estimated his net-worth to be US$86.5 billion (S$115.2 billion).
Family offices are described by Investopedia as being advisory firms that manage the finances or investments of an affluent individual or family.
Brin's office is based in California and is called Bayshore Global Management.
They established an office in Singapore in late-2020, reported Bloomberg.
According to BBC, Brin co-founded Google with Larry Page in 1998, though both have since stepped away from the active management of the company.
The pair visited Singapore in 2016 to learn about the country's development.
There are about 200 single-family offices in Singapore managing assets worth about S$26.6 billion.
Top image from World Economic Forum's YouTube Channel
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