Google co-founder Sergei Brin latest billionaire to open family office in Singapore
- Brin, the world’s ninth richest person, is the latest tycoon to take advantage of Singapore’s low taxes and generous incentives for family offices
- Brin co-founded search giant Google – now a unit of Alphabet Inc. – with Larry Page in 1998. His net worth is estimated at US$86.5 billion
Bayshore Global Management, the California-based firm that services Brin, established an office in Singapore late last year, according to documents filed with the corporate regulator. Deputy Chief Investment Officer Marie Young was appointed as a director of the unit.
Brin is the world’s ninth richest person, with a net worth of US$86.5 billion, according to the Bloomberg Billionaires Index. He is the latest tycoon to take advantage of Singapore’s low taxes, high security and generous incentives for family offices, which manage the lives and wealth of the super-rich.
Hedge fund boss Ray Dalio is opening one in the country while vacuum cleaner maker James Dyson’s Weybourne Group Ltd. is already there.
Brin co-founded search giant Google – now a unit of Alphabet Inc. – with Larry Page in 1998. As the company expanded globally, Singapore became a regional hub and the pair reportedly visited the city in 2016 to meet its leaders and learn about its development. While the men have stepped away from active management of the company, they still own super-voting shares giving them control.
Bayshore’s Singapore filings show its primary activity will be family office related. The office takes its name from North Bayshore – the section of Mountain View, California where Google has its headquarters. Its Singapore unit is held through a holding company named Parachute Capital (SGP) Pte., which also lists Young as a director.
