A very special event has just ended in the Principality. Members of elite families, investors, entrepreneurs and esteemed international spokepersons arranged to meet at the Fairmont Monte Carlo Hotel from the 28th until the 30th July 2020, to debate on key issues and networking in a safe environment. We are talking about the 11th Global Family Office Investment Summit, the uppermost private event of wealthy family management, promoted by Ritossa Family Office, chaired by Sir Anthony Ritossa, heir to a century-old tradition with solid roots both in Europe and in the Middle East. The Monegasque stage, under the High Patronage of H.S.H. Prince Albert II of Monaco, is part of a world tour that covers further iconic locations, notably: Dubai, Riyadh and Miami.
The leitmotif of the Monaco’s set of conferences was “The Rise & Rise of Family Offices”. The main mission of this two-day convention was to create e privileged platform where to exchange ideas and share information within a safe peer-to-peer approach.
“Our World, Post-pandemic, is rapidly changing”, underlined Sir Anthony Ritossa – “By living the present and adapting to our new reality, we come together to share the best advice on preserving our human capital and planet for our future generations”, he added. “This annual event has addressed exciting, cutting-edge advances in areas such as Agriculture, Artificial lntelligence Technology, Healthcare, Education, Renewable Energy and Entertainment”, outlined Markus Lehner, Summit Chairman and CEO at Lehner Investments AG.
“We are born on top of the level and you know it from the beginning; at the same time, you have to be humble and to serve others”, highlighted H.R.H. Prince Michel de Yougoslavie, Grand Ambassador of the Summit, in His keynote – “We know very well Our past but we focus on the present and the future which is really important” – His Royal Highness added. Furthermore, He urged to be passionate, work hard and be constantly open to learn new things.
But What is really strategic in this very moment? HelloMonaco asked Dana Al Salem (D.A-S.), key panellist, CEO at Merit Capital and Co-Founder of Yahoo Europe.
D.A-S: Fundamentals of the society like internet connections, food and water preservation, cyber security, are the kind of things to be focusing on right now. The crisis had really forced us to come back to the foundations not necessarily in terms of investments. As humans, we have to come back to basics, that is reconnecting with people.
HelloMonaco: Do you think high-stand families are more sensitive to social aspects than before?
D.A-S.: I do think that indirectly, every single person, not just investors, were suddenly confronted to a situation never seen before. Think about those Countries that experienced a severe lockdown with food shortage. Actually, this brings us back to question ourselves, notably on sustainability and on humanity. I am not saying that investors are massively investing in it, but wealthy people are increasingly changing their priorities to focus more on prior solutions and philanthropy. No crisis like this had ever pushed decision makers to rewrite laws and policies to improve them seeking to involve both the public and private sector.
This Summit is witnessing that there is humanity in all of us and some brilliant tech entrepreneurs are conceiving new outcomes to adapt to the current situation, notably teachers who were able to continue their educational activities through the Net.
“There is the potential with on-line learning to tap into markets, both national and international, that cannot be easily accessed with other more traditional forms or program delivery”, stated H.E. Prof. Sir Manuel Freire-Garabal y Núñez, Chairman at Al-Khalifa Business School.
“I think that family offices have always been related to education back in times when it was very hard to come”, specified to HelloMonaco H.E. Prof. Sir Brian Patrick Luining, Vice-Chairman at the same prestigious institution – “Family Offices investment in online education represents a big shift to strengthen solidarity and inclusion, allowing young people around the world to have a proper education in their portfolio and then participate in businesses, locally or globally”, he added.
A particular focus on the specific Monaco’s economic situation as a win-win financial marketplace was offered by Justin Highman, Deputy CEO at the Monaco Economic Board, the body in charge of promoting the economic side of the Principality, “This Summit is very much in line with our mission to promote Monaco, explaining people that it is not only a leisure place but also a business destination with a diversified economy that has been growing up to this year, counting more than seven thousand companies and fifty-eight thousand people working here”, pointed out Mr. Highman to HelloMonaco– “we wanted strongly to participate to these kinds of events in order to help entrepreneurs, investors and family offices to look at Monaco since we believe that the Principality has the right ecosystem for the latter to come, live and work from here”, he concluded.
The presence at the 11th Global Family Office Summit of a great number of people coming from different parts of the world was particularly significant at a time when geographical travel is even more difficult due to Covid-19 health emergencies. The final standing ovation from more than six hundred influential billionaires, Sheikhs, Royal Families and business leaders, both in person or via webinar, sent a strong message of rebirth towards a better future.