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Passing through Monaco: Investor Patrick Tsang 

by: Cassandra Tanti
29/09/2021

Monaco is like honey to the world’s brightest, most successful entrepreneurs and investors. Their stories are inspirational and motivational, and we at Monaco Life are pleased to share them you. 
“I came to Monaco for the Grand Prix in May and I had a really good time,” Patrick tells me as we sit in the lobby of the Hermitage Hotel. “Before Covid, the word ‘holiday’ didn’t really exist for me. I was in a different city every few days, working non stop from 8am until 2am. I would always mix work with pleasure and enjoy travelling, but I realise now that health is the most important thing in life.”
Life didn’t start out easy for Patrick Tsang. Growing up in Belfast during The Troubles, he was one of the rare non-white people in Northern Ireland, speaking not a word of English the day he started at a Protestant school.
“The first day of school was very vivid to me. I was four years old and during recess all the kids got out their packed lunches with milk and biscuits. My mother, who didn’t know too much about the western education system, didn’t pack me anything to eat during recess. Obviously, a teacher brought me some biscuits.  After lunch, we had some play time, as we were all heading back to the classroom I got beaten up by five boys, just because I didn’t look the same as them. I was crying and hurt and asking myself why they beat me up. That day taught me a big lesson: you have to fight for everything that you have in life. I needed to show people that I can be just as good as them, if not better.”
Patrick Tsang is now the fourth-generation chairman of the single family office Tsangs Group, an innovation-focussed company which bridges East to West and invests in companies primarily in Asia, North America and Europe.
“We try to invest by making a positive impact and positive influence with a mission to try to change the world to make it a better place,” says Tsang.
That determination to do better and aim higher is in Patrick Tsang’s DNA. His ancestors originated from Henan in central China thousands of years ago. They were part of an ethnic group called the Hakka, a nomadic tribe that moved all around China and were never considered ‘locals’ anywhere. About 700 years ago, the family emigrated to Hong Kong, which was essentially made up of fishermen and farmers, where they settled.
“My great grandfather came from the period during the Qing dynasty, had four wives and little resources. As he was illiterate, he saw that the power was with the pen and not the sword. So, he decided to use all his savings to educate one family member – his oldest son, which was my grandfather.”
Patrick’s grandfather went on to become one of the first Chinese entrepreneurs to open multiple Chinese restaurants and takeaways in north west England, and then the first to open restaurant businesses in Belfast, Northern Ireland and Dublin, Ireland.
“I was there for 18 years before I moved to London for college. Can you imagine? A bunch of Chinese kids growing up with thick Belfast and Dublin accents,” laughs Patrick.
Patrick Tsang went to London to read law and graduated from the prestigious College of Law in Guildford, England. He qualified as a solicitor in Hong Kong and England before changing careers to finance.
As an investor, lawyer, advisor and chairman of various ventures, Patrick Tsang was always on the move, until Covid hit and the world was forced to a standstill. A hip operation last year also saw Patrick Tsang out of action for three months, giving him time to reassess his outlook on life and effect positive change.
“That immature, never say never mentality changes as you get older,” reveals Tsang. “You evolve to the point where it is not about me beating you, it is about me beating myself.”
It also gave Tsang the motivation to start a not for profit, social impact project.
“We had two years of social unrest in Hong Kong, very similar to Northern Ireland, and I had a lot of young people asking for advice on what to study, how to buy a house in Hong Kong, etc. At the end of the day, you can’t blame other people or the environment for your situation, it’s all to do with your own attitude. We can’t change the circumstances of the environment around us, all we can do is change ourselves and our attitude. Most of the time, successful people prevail in times of adversity.”

Patrick Tsang interviewing Lord of the Dance star Michael Flatley at the Monaco Streaming Film Festival 2021

In order to share these stories of success with as wide an audience as possible, Patrick Tsang created a podcast, interviewing celebrities, influencers and successful entrepreneurs. Titled ‘Anything is Possible’, the podcast now boasts over 60 episodes of one hour with personalities including venture capitalist Tim Draper, Bitcoin titan Brock Pierce, and former White House Director of Communications Anthony Scaramucci.
“There are others who are not perhaps as well-known but have very interesting stories, like a 24-year-old Indian lady called Dr Malvika Iyer, an international motivational speaker, social worker and disability rights activist who suffered a bomb blast at the age of 13 and lost both her arms.
“We also interviewed Adam Cheyer, handpicked by Steve Jobs and founder of Apple’s Siri. He’s also the founder of change.org which has had over five billion users since it began and has been instrumental in women’s rights movements.”
The interviews can be viewed on the ‘Anything is Possible Podcast’ channel on YouTube, Spotify and Apple Podcasts as well as DeFiance Media, a digital network broadcasting coverage of decentralised culture, finance and technology.
Patrick Tsang affirms he has no agenda with his podcast, apart from helping people.
“The objective is youth empowerment and education. I believe the same as my great grandfather, and the generations that came after him, that education is the key to everything,” says Tsang.  “If we can help one, five, 10 young people, then they can have a multiplying effect of helping other people in issues like sustainability, climate change, food shortages… there are so many problems that need to be resolved and only the young can change them. The young generation is our future and if we channel the right energy and resources, Anything is Possible.”
 
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MonacoTech looking for new round of entrepreneurs

by: Stephanie Horsman
29/09/2021

MonacoTech, the start-up incubator founded in the Principality in 2017, has put out its annual call for new start-ups in the green, clean, bio-med, financial yachting and digital tech worlds.

Applications are now being accepted by the Principality’s premiere start-up incubator, MonacoTech, for companies who are in line with Monaco’s values and in their foremost strategic sectors.

New businesses looking for a boost with backgrounds in green tech, clean tech, biotech, medtech, fintech, digital or yachting are asked to submit applications between 27th September and 25th October before midnight in order to be considered.

The selection process will take place in three distinct stages starting with filing the application. The next step will be 20-minute online interviews taking place on 15th and 16th November, followed by the presentation of the project in front of a panel of judges on 2nd and 3rd December. Final decisions will be made in January to welcome the new start-ups in the new year. 

MonacoTech offers comprehensive support for the winning applicants, giving them a programme focused on the application of best practices and personalised follow-up, workshops and events led by experts, and chances to connect with key players of the ecosystem such as entrepreneurs, partner incubators and investors. Additionally, the start-ups will have access to each other for idea-sharing and support as well as to the MonacoTech ‘Fab Lab’, which can be used for prototyping and experiments.

Projects are evaluated on several criteria. The potential and innovative character, how far along the project has been developed as only those with a first prototype will be considered, and a coherence between the project and Monaco’s values and goals will all be considered before making final choices.

Monaco, says MonacoTech, provides a perfect backdrop for these kinds of endeavours as it is international, open to innovation and experimentation and already wired for 5G.

 
 
 

MYS Series: The superyacht and the owner representative

by:
27/09/2021

The course to set in order to become a superyacht owner representative is uncharted territory, but at journey’s end, the one abiding rule is to understand the owner inside and out and to know the yacht off by heart.
There’s no easy way to get there, but Owner Representative (OR) Volga Diaugo started off as a stewardess, working on 25 to 50 metre yachts for nine years. “That’s how I learnt about boatsn from the inside,” she explains.
She is now co-owner of The Doc Yachts Services based in Imperia, Italy. The OR’s role, she says, is to cover the owner’s back in every which way and do every single thing to make sure they do not encounter (or even know about) any problems on board: “With crew, with technical problems, with management, etc.”
And so how, one wonders, is this different from a yacht manager? Diaugo explains, “I am in direct contact with the owner, I am their eyes, their ears. My office is right in front of their boat. The Owner Rep gives 360° support of every aspect of the yacht, whereas yacht management involves 280°. We cover everything from design stage, construction, and after sales, managing itineraries, port bookings, provisioning, technical support, everything.”
Diaugo is owner representative for five vessels. She moved from Belorussia to Italy in 2005 and, as a Russian speaker, most of her owners are Russian speaking.

Benetti Diamond 44m, photo JOBDV

This year at the Monaco Yacht Show she represented the new flagship Class category yacht from the Benetti shipyard, the Benetti Diamond 44m. With exterior design by Giorgio M. Cassetta, the interior is the work of Benetti’s Interior Style Department. With a fibreglass hull and 469 gross tonnes in weight, the yacht sleeps 10 guests in five cabins with a crew of nine. At 11 knots, she has a range of 5,000 nautical miles.
The owner, an experienced yachtsman, was heavily involved in the project build and advised the yard on the need for generous space for crew as well as owner and guests, with maximum silence and build standards.
The yacht launched in January 2020 and was delivered in Viareggio in July 2020. She is considered to be a contemporary take on a Benetti’s traditional classic style.
Says Diaugo, “It all began in December 2018 when the construction contract was signed. Along with the captain, I attended shipyard meetings to source any problems and give the owner’s opinions and ideas. Benetti are very professional and it was a positive experience.”
Covid of course halted the build process in 2020, but not for long, and the yacht was delivered only shortly after schedule that July.
Benetti Diamond 44m, photo JOBDV

Diaugo is particularly impressed by the natural light inside the boat and the volume. “She feels like a 50m, not a 44m,” she says. “She’s like a daughter to me. I love everything about her. Every place you go, you find particular things, special materials. You know, on board yachts, people are always getting bruises from sharp corners when the boat is moving. But the owner and his family decided to have all corners rounded off. There are no sharp edges onboard!”
Crew and guest flows are devised to ensure maximum privacy. The 102sqm sun deck offers dining, lounging and sunbathing areas. Other features include a pool on the upper deck bow and an expansive 60m full-beam owner’s apartment in the bow on the main deck. In the central section of the deck, the day area is furnished exclusively with a series of sofas and low tables.
Now with that project under her belt and constant beady eye, Volga Diaugo is working on the construction of a 76’ sailing yacht by CNB shipyard, due for delivery at the beginning of 2022.
Benetti Diamond 44m, photo JOBDV

At close quarters with Volga Diaugo:

Where were you born and where did you grow up?
In Minsk, the capital of Belarus. I moved to Italy in 2005.
A happy memory?
Going to football matches with my father. I remember standing in the rain at the 1982 Russian Championships. I was six and I was happy.
If you weren’t an owner representative, what would you be?
This is my dream job. I trained as a physical education teacher and I have a degree in psychology. Both are useful now, for jumping through hoops.
Your advice to someone looking for a career like yours?
Be honest, and you have to know every single aspect of the job in case the owner asks you. I had a great captain who taught me that whatever I am asked, the answer is always “Yes”. And if it is not “Yes” today, it is “Yes” for tomorrow.
A difficult part of your job?
Never enough sleep. If you are not sleeping, you are always thinking of the next thing. Last year I did 60,000 km in my car – meetings with shipyards etc. – all over Italy.
The best part of your job?
Seeing the owner happy.
Of what are you most proud?
Moving to Italy. It was a decision that changed my life. I started from zero and did not speak a word of Italian.
A favourite meal?
Any Italian cooked fish. I love all Italian food.
A figure you admire?
Captain Heins Krodel, my first Captain on MY ZoomZoomZoom.
A favourite place or restaurant in Monaco?
Cipriani.
 
 
 
 
 
 

An “angelic evening” with the stars of the stars

by: Stephanie Horsman
27/09/2021

The Monaco Yacht Club was the final scene in a series of exclusive events last week that featured two NASA astronauts and showcased Axiom Space, the company designing the world’s first commercial space station.

In the third of three special ‘Astronaut’ events put on by My Yacht Group, the Monaco Yacht Club was the site for an ‘Angelic Evening’, a reception party that featured wines from Château d’Esclans, makers of Whispering Angel, in keeping with the theme of the night.

It followed two intimate dinners organised in conjunction with Monaco Private Label at the Hermitage Hotel and aboard a private superyacht, where two NASA astronauts – Michael Lopez-Alegria and Nicole Stott, gave guests the opportunity to discover Axiom Space, the American company that is looking to make space tourism a reality in our time.

Left to right: Nicholas Frankl, Tejpaul Bhatia (Axiom Space), Nicole Stott, Cdr. Michael Lopez-Alegría

Michael Lopez-Alegria is a Hall of Fame astronaut who has spent 257 days in space and made 67 spacewalks in his career. He spoke to the gathering about what it was like to hover 402 kilometres above the earth. He is currently in training to take on his fifth space mission coming up in February 2022, when the commander will be at the helm of Axiom’s first fully private mission to the International Space Station.

Joining him was seasoned space veteran Nicole Stott, who has spent a total of 104 days in space and is the 10th woman ever to perform a spacewalk. She also is notably the first person ever to have painted a watercolour whilst orbiting the planet. Stott’s pursuits have also taken her underwater where she was part of NASA’s Aquanaut team on the Aquarius undersea lab, undertaking an 18-day mission to explore the depths of the oceans.

During the YCM dinner, guests enjoyed a Whispering Angel-fuelled evening and truffle-based menu. This was followed by live music and dancing until the wee hours.

Lest the evening seem to be all high-flying fun and games, there was also a charity aspect with the reception raising awareness for YachtAid Global, an organisation that works in conservation efforts, disaster relief and humanitarian aid projects.

My Yacht Group will be holding similar Astronaut Dinners at select cities in the coming months.

Click on the images below to see more highlights…


 
Top photo of Nicholas and Annabelle Frankl, the brother-sister team behind My Yacht Group
 
 

Sharon Stone dazzles as guest of honour at Monte-Carlo Gala

by: Stephanie Horsman
24/09/2021

Glamour was back in full force Thursday as Monaco staged the Monte-Carlo Gala for Planetary Health, this year for the first time ever at the Palace, where the Princely family welcomed celebrities and VIPs for the exclusive Prince Albert Foundation charity event.

It was the fifth edition of the Monte-Carlo Gala for Planetary Health, the year’s largest fundraising event for the Prince Albert II of Monaco Foundation, and American actress Sharon Stone was the night’s Guest of Honour, receiving the Lifetime Achievement Award for her years of work towards humanitarian efforts and the empowerment of women. The 63-year-old looked luminous in a dramatic lilac coloured gown that trailed gracefully behind her as she made her way up the “red” carpet in strappy black heels.

“It is a joy and an honor to share this evening with my long-time dear friend and compatriot His Serene Highness Prince Albert of Monaco,” said Sharon Stone during her acceptance speech. “We have known each other our entire adult lives and once again our friendship deepens as we share this common goal. It is with great humility that I accept this honour to serve at His command.”

Sharon Stone attends the 5th Monte-Carlo Gala for Planetary Health. Photo by Pascal Le Segretain/Getty Images for the Prince Albert II of Monaco Foundation

In reference to the health of our world and ourselves during the pandemic, Stone added, “One of the things that happens most directly during these times that we stay alone is that we understand the importance of being present. When you see what’s happening to our environment, we understand most predominately what being present in ourselves and in our world means.”

Though perhaps known best for her work in films such as Basic Instinct and Casino, Sharon Stone has been honoured with a Nobel Peace Summit Award, a Harvard Humanitarian Award, a Human Rights Campaign Humanitarian Award, and an Einstein Spirit Award, among others. Her role as producer in the documentary My Name Is Water contributed to both awareness and funding towards clean water, wells, rainwater harvesting structures, and more in rural Sub-Saharan, Africa.

Monte-Carlo Gala 2021 © Eric Mathon Palais Princier

Stone was joined by British star Orlando Bloom, who made the appearance without fiancée Katy Perry and looked dashing in a traditional tuxedo, as well as model Victoria Silvstedt, who looked stunning in a baby pink gown with a matching cape and sky-high silver sandals.

Prince Albert II was joined by his sister, the ever-elegant Caroline, Princess of Hanover who debuted her new grey bobbed hairstyle and wore a beautiful brocade gown.

Victoria Silvstedt at the Monte-Carlo Gala for Planetary Health, photo @victoriasilvstedt instagram

Prince Albert addressed the audience with a reminder of the continuing theme of the Gala – the protection of our environment and the impact of climate change: “We must refuse to close our eyes  faced with situations that concern us all, whatever our circumstances and wherever we live…the deterioration of the ocean has devastating effects on the coastal population and on humanity as a whole…plastic pollution contaminates the food chain and contaminates each one of us…that the disappearance of the most fragile ecosystems, such as the corals, will deprive us of essential resources in the future.”

This year, the Prince’s Foundation joined forces with the Princess Charlene of Monaco Foundation, which is committed to both saving and inspiring young lives with educational and development initiatives through sports.

Unable to attend the gala in person, the Princess sent a message from South Africa, saying: “My Foundation and the Prince Albert II of Monaco Foundation joined forces a few years ago to develop a number of projects directed to clean our Mediterranean sea of plastics, and more largely, oceans around the world. I was not able to join this evening, but I would like to thank you all for your support and generosity. It is my strong engagement and determination to support these projects, as we have an immense responsibility towards our future generations with the state of the Planet they will inherit from us.”

Auction items this year included an arctic expedition to the North Pole with Prince Albert, a custom-made Van Cleef & Arpels sapphire and diamond pendant created from the Ocean tiara of Princess Charlene, a Porsche Taycan Turbo S (the very first electric Porsche) from Prince Albert’s personal collection, and a studio visit and creation of custom artwork from Jeff Koons.

Proceeds go towards helping the Prince Albert Foundation fulfil its mission to help develop marine protected areas and protect threatened wildlife species, as well as promote actions to mitigate the impact of climate change and acidification on the ocean and to fight against plastic pollution.
Sharon Stone joins a prestigious list of past honourees – Leonardo DiCaprio, Orlando Bloom, Robert Redford and Sting.

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By Cassandra Tanti/Stephanie Horsman. Top photo: Caroline, Princess of Hanover, Prince Albert II of Monaco and Sharon Stone, by Eric Mathon Palais Princier
 

 

 

Monaco's gastronomic adventures continue

by: Stephanie Horsman
24/09/2021

Divine food and beautiful locations with amazing chefs over seven weeks will be the hallmarks of SBM’s latest culinary event which will take place from the end of September through to mid-January.

After the huge success of the Société des Bains de Mer (SBM) summer event, the ‘Festival of Stars’, the group has decided to continue giving patrons gastronomical delights into the autumn and beyond with their latest offering of a series of themed culinary weeks.

From 27th September to 16th January, SBM bistros, restaurants and brasseries will take turns hosting seven week-long events giving visitors the chance to discover new spots and rediscover old favourites.

The event kicks off on 27th September at Le Deck at Monte-Carlo Beach with a Greek-themed week, where chef Pascal Garrigues will prepare a selection of Hellenic delicacies for lunch until 3rd October to end the beach season with a bang.

Then from 11th to 17th October, guests will get a Caribbean vibe from chef Marcel Ravin at Mada One where he takes his “snackonomy” concept to a whole new level. The chef, who hails from the French island of Martinique, is embracing his heritage and sharing it with the scents and flavours of his native land.

Up next is Limùn at the Hermitage Monte-Carlo where chef Jean-Philippe Borro and his team will provide delicious meals made from the restaurant’s very own vegetable garden. Titled ‘From land to plate’, the week of 25th to 31st October will be dedicated to fresh, healthy and tasty choices.

The cuisine of Monaco is the next to be celebrated at Le Salon Rose from 15th to 21st November in honour of National Day. All week, Le Salon Rose will be offering local specialities from the kitchen of chef Thierry Saez-Manzanares at both lunch and dinner.

L’Orange Vert at the Monte-Carlo Bay will be taking patrons to the Far East from 29th November to 5thDecember where chef Marcel Ravin will be tempting tastebuds with the exotic spices and subtle flavours of the Orient.

From 6th to 12th December, the Café de Paris will feature a week of treasures from the seas. The end of the year will be celebrated with glorious arrays of shellfish which can be eaten on site or taken home to be enjoyed.

Finally, from 10th to 16th January, L’Hirondelle will offer detox cuisine to wash away the sins of the festive season at Thermes Marin Monte-Carlo. Chef Jean-Laurent Basile will feature wellness cuisine that will make patrons feel lighter and cleaner after the excesses of the holidays fade away.

All the events will be held in compliance with the latest health measures. Reservations are recommended and can be made at the individual locations.