MONACO, July 1, 2022 /PRNewswire/ -- The 19th Ritossa Family Office Investment Summit, held under the High Patronage of H.S.H. Prince Albert II of Monaco, brought together dignitaries of the world's leading families this week to discuss how to invest for a better future.
Global leaders, entrepreneurs, prestigious family offices, private investors, Sheikhs, royal families, and leading businesses from 55+ countries representing more than $4.5 trillion convened with a powerful sense of purpose. The closed-door event's theme "Connecting Minds & Investing for a Better Future" featured discussion and debate regarding how to make our world a better place. Previous Summits have raised $2.8US billion in investments for leading global start-ups, entrepreneurs, funds, and philanthropic endeavors and early indications are that the Monaco event will be a similar great success.
"Global family offices are committed to investing for the greater good of mankind and believe that those who wield economic power must do everything within their power to serve as a pioneering global forum for action. I'm incredibly grateful that the Summit was held under the High Patronage of H.S.H. Prince Albert II of Monaco and deeply appreciate H.R.H. Prince Michel de Yougoslavie, H.R.H. Prince AbdulAziz Bin Faisal AlSaud, and our Summit Chairman - Markus Lehner, as well as every member of our "family of family offices," and all the entrepreneurs who attended and contributed thought leadership insights," said Sir Anthony Ritossa, Chairman of Ritossa Family Office & Host of Ritossa Global Family Office Investment Summits, UAE.
"It is an honour and a pleasure to be the 19th Ritossa Family Office Investment Summit Grand Ambassador in Monaco. I have taken part in many events in the past years and have always been amazed at the quality of the participants and at the wealth of information that was circulated," said H.R.H. Prince Michel de Yougoslavie, Grandson of King Umberto of Italy and Prince Paul of Yugoslavia, Monaco.
"Recent times have changed everyone's life faster than ever before because our world has changed from one moment to another. Sir Anthony is guiding his family office conferences best through these times, and that's why they are the world's No 1. summits in all aspects. Therefore, I was even more delighted to serve again as the Chairman of the 19th Ritossa Family Office Investment Summit in Monaco," said Markus Lehner, Chairman of the 19th Ritossa Family Office Investment Summit, Principal of the Markus Lehner Organisation, and Founder of Lehner Investments, Monaco.
Key discussion points at the Summit included:
Monaco's Unique Economy with a Focus on its World-Famous Financial Marketplace
Under the expert leadership of His Serene Highness Prince Albert II, Monaco is thriving as an international financial marketplace with strong credit dynamics, new regulations for residency, and an efficient platform for estate planning. Among its advantages are its lack of debt, balanced budget, favorable tax structures, popularity for entrepreneurs, strong private banks, and support of family offices.
Fighting our Climate Crisis, Today
As part of the quest to make the world a better place and an ocean that's part of the planet we call home, there are new commercially viable processes for the cultivation of micro algae for biofuels and related carbon credits. Its goal is to make net-zero emissions goals a reality and it has the partnerships in place to drive change at a rapid pace.
Family Office Investor Insights
When investing in today's dynamic environment, attendees agreed that it's important to be able to navigate the political climate. We are deep into a geopolitical recession which will last longer than an economic recession. Although we are on an unavoidable path, there are significant investment opportunities that hold the promise of outsized future returns, including areas such as technology. Additionally, infrastructure is a hedge against inflation, Being nimble is essential since markets have a short memory and what is happening now is what matters.
Investment Strategies in the Web 3.0 Era
The time now to invest in the next generation of cryptocurrency and its long-term benefits are evident across many industries, including real estate, gaming, healthcare, among others. The combined valuation of cryptocurrencies has reached US$3.2T but many coins are volatile and are not backed by assets. Unicoin is a next generation of cryptocurrency that is dividend paying and asset backed. Blockchain is equalizing the world in that it can be used to help humanity. Ultimately, finance is about trust.
Legacy & Socially Responsible Investing
Family offices must align their investments with their values. Investing in impactful start-ups that help improve lives is important as is taking into consideration the United Nations Sustainability Goals. We all have choices to make and possess the ability to have a positive impact at some level. Projects related to water desalinization, renewable energy, sustainable housing, and climate change are examples where investment dollars have a needed impact.
AI & Machine Learning
The U.S. leads China in areas such as enterprise software but China remains ahead in speech recognition and industrial robots. A cornerstone of artificial intelligence is the fact that the more intelligent you are the better you can make decisions. AI can write rules that represent the truth. AI makes life easier and facilitates humanity. It is faster and enables us to identify the best way to do things across industries – at fraction of a second.
Family Offices – The Eternal Flame
Challenges may arise when family members do not see eye-to-eye yet certain truths remain the same throughout the years. Human capital lasts over generations and education is critical. We must give the next generation responsibility and let them earn and build wealth independently. Leading family offices stress the importance of investing in education for the next generation. Ambition, leadership, governance, and discipline are critical to success. It's important to be flexible, take a long-term view, understand what you're investing in, have a vision, and invest in great founders dedicated to building their business.
How Champions, Invest Like Champions
An Ultra Exclusive Fireside Chat entitled "How Champions, Invest Like Champions" featured racing legends Mika Hakkinen (The Flying Finn), a 2-Time F1 Champion from Finland; Juan Pablo Montoya (JPM), a F1 Legend from Colombia; and Sebastian Montoya, a Rising Star, FREC from Colombia. Among the areas in which they're investing are the metaverse, online gaming, and cryptocurrency. In all aspects of life, they embrace the concept of teamwork, looking at the world in new ways, learning, and understanding. Importantly, F1 is seeking to make next generation drivers carbon neutral.
Spotlight on Iconic Global Family Office Investors & Co-Investments
Leading families believe in following smart investors and view relationships as important. Focus areas for investment include biotech, fintech, space, India-only, logistics, funds such as activist strategies, and secondaries. Patience is key, a long-term horizon is advisable, and innovative thinking is a trademark of a great manager. Because family offices have on-the-ground, local knowledge, they are valuable in terms of presenting opportunities. It's best to seek partnerships with those you have synergy with and who have skin in the game as an investor. Trust is a Number One priority.
Increased Giving for a Better Tomorrow
Trends include family offices' tireless generosity in challenging times, increased sophistication, and the next generation leading the way. Areas of giving include children, healthcare, women's empowerment, sustainable economy, economic development, education, refugee support, and foster homes. Families agree that philanthropy is a privilege and not an obligation. We must be careful to use philanthropy to create a better community. While historically there was separation between business and philanthropy, we no longer need to make a choice as the two intersect. Today, it is possible to be economically profitable while making a difference.
For more details on upcoming invitation-only Global Family Office Investment Summits, please visit www.RitossaFamilySummits.com
SOURCE Ritossa Family Office