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Close to 600 delegates gathered in Monaco for the 9th Ritossa Global Family Office Investment Summit last week at the Fairmont Hotel. Participants had the opportunity to hear everything from a new blockchain router for cryptocurrency mining, to former F1 champion Nico Rosberg’s Family Office, and a world tour for peace.
Hosted by the Ritossa Family Office, the summit is a global series covering Dubai, Monaco and Miami. This was the third of its kind in the Principality and brings together some of the world’s leading experts geared toward identifying actionable strategies for generating returns in a low-rate, high volatility market.
“What we try to do is put ourselves in the shoes of family offices and cover all asset classes,” said Giuseppe Ambrosio, president of the Monaco Single and Multi-Family Office International Association and co-organiser of the event. “So there are speakers specialised in security and market outputs, on private equity, on real estate… the summit is a mix of all of these asset classes.”
“We are also adding more concept classes from a fintech perspective, like bitcoin and cryptocurrencies,” he added. “Not just because we want to do it, but because these are the subjects that are interesting to the family offices.”
One of the biggest announcements came from OptDyn and Gemnet, who launched the Subutai Blockchain Router, a new paradigm in cryptocurrency mining. Five years under development, the Subutai Blockchain Router uses innovative hardware mining products that draw less than 100 watts, the equivalent of a household light bulb. It is the world’s first plug-and-play cryptocurrency-mining router that provides users an ongoing passive income of $400 per month with no skills required.
Other highlights included a keynote panel session on the ‘World’s most powerful and influential women in family offices and foundations’, ‘Artificial intelligence and machine based learning’, and ‘Iconic Monaco family offices at work’.
“I designed a panel to allow Monaco family offices and members of the association to come on stage,” said Mr Ambrosio. “Giving priority to Monaco based family offices like I do every year, I wanted to have someone from the construction business, someone from the entertainment industry and someone from finance.”
The panel consisted of Lee Robinson, former hedge fund manager of the year and founder of Altana Wealth Monaco; former F1 champion Nico Rosberg, CEO of Nico Rosberg Family Office; and Marcos Casiraghi, chairman of Engeco Monaco, who spoke about his philanthropy focussing on education.
Meanwhile, interactive round tables included 60-minute break out sessions to promote brainstorming and shared experiences. Among the issues discussed: doing business in Monte Carlo and accelerating the path to clean energy and sustainability.
The National Assembly has welcomed the latest graduates to the Principality’s Police Force.
An incredible 12-month time lapse video showing the creation of Monaco’s mammoth land extension project has just been released.
Monaco has a new bailiff, or huissier as known locally, who was sworn in earlier this week.
General crime rates in the Principality dropped by a significant 16% between the years 2016 and 2019, and street crime by an impressive 52%.
Monaco Paws is a collaboration between writer Siri Trang Khalsa and photographer Kaidi-Katariin Knox. Follow on Instagram @stkmonaco and @art.of.an.eye or contact firstname.lastname@example.org
Article first published January 11, 2017