Succession

The 2020 election did not result in the massive blue wave that many predicted, but there are definitely still blue ripples reaching shore—especially now that Democrats won both Senate seats in the Georgia runoff elections.

With the Democrats controlling the White House and now both houses of Congress, there are certainly changes in tax policy and other areas that ultra-wealthy families should expect and watch closely.

In a recent family business event, a couple of young family business owners were asking questions around their role, finding their place and their individual voice. Questions motivated by their respective positions as heirs, beneficiaries, descendants, inheritors and ‘next-in-line’.

Any one of these descriptions are representative of considerable responsibilities and accepted norms. Taken together, they represent the range and depth of the obligations, paths and expectations which together are captured in one word: successor.

The father and son team behind Vini Cosmetics, the maker of Fogg deodorants, say they are bullish on the Indian economy, its pandemic recovery and are exploring new investment opportunities.

Entrepreneurs Darshan Patel, 58, founding chairman and managing director of the family business, works in tandem with next-generation Manan Patel, 27, chief executive of their family office Vini Investments in Ahmedabad, Gujarat.

Billionaire Ray Dalio to set up family office in Singapore

Ray Dalio, founder of the world’s largest hedge fund, is the latest billionaire to open a family office in Singapore.

Dalio, 71, the US investor who founded Bridgewater Associates in his New York apartment in 1975, felt it was “high time” to build on his links to Singapore and Asia-Pacific, his spokesman said.