Q&A with Patrizia
Sir Anthony Ritossa, you are a family office influencer, thematic investor with interests in private equity, real estate and blockchain companies, educator, philanthropist, author, and highly sought-after speaker. As Founder of the Ritossa Global Family Office Summits, you lead a series of high-level, closed-door family office gatherings, held in cities such as Monaco, Dubai, Riyadh, and Miami, that are dedicated to accelerating change via high-level discussion and debate of actionable strategies for building a better future. You also have a deep passion for bringing people together to achieve greatness, supports sustainable development, and aim to support and inspire the next generation of leaders. Please share with us your thoughts on family office trends and your plans for the balance of 2021.
Q. Blockchain and cryptocurrencies have the potential to help build a greener future, as per the World Economic Forum. What’s your opinion on the subject?
It is interesting to note that our Summit Partner Kerry Adler, Founder, President & Chief Executive Officer of SkyPower Global Group of Companies, said recently, “The phenomenon of tokenization and blockchain mining’s unbridled growth, today poses the greatest global risk to the climate change agenda. Awareness and implementation of innovative solutions like Hybrid Solar Powered Data Centers will serve as the catalyst towards ensuring a brighter future for the generations to come.”
What’s especially exciting to me is the impact that projects like SkyPower, and blockchain more broadly, has on sustainability. We have the power to create a greener future and protect our planet for future generations. Cryptocurrency and blockchain clearly had challenges getting started with respect to mining and the environment; however, the sector is now focused on systems that support a cleaner and greener future. Much of the energy used to mine cryptocurrency now comes from renewable sources. The sentiment among industry leaders in the space is that it is essential to focus on the planet and helping the environment.
Q. Do you believe that blockchain technology might have a greater impact on our lives than the internet did?
A. Blockchain has the potential to impact lives in several ways. Beyond its use as currency, its technology is already revolutionizing sectors and industries such as finance, real estate, healthcare, education, climate change and more.
Q. This year will be very active and interesting for the Ritossa Family Office. Two summits are already planned, including Dubai (October 3-5) and Riyadh (October 31-November 2). What did you decide on these regions?
A. To help support growth, the governments in Dubai, Saudi Arabia and throughout the region help small- to medium businesses and entrepreneurs and welcome public-private partnerships involving family offices. They work hard to attract talent and focuses on a superior quality of life based on solid infrastructure, healthcare systems, sustainability, safety, and resiliency. As a result, several Summit attendees indicate that they intend to open offices here, including The Tsangs Group, Cooper Family Office, Cash Angel, Platon Finance and The Bank of Nevis. Government programs and incentives position the region for a quick recovery from the pandemic.
Q. His Royal Highness Prince Abdulaziz bin Faisal bin Abdul Majeed bin Abdulaziz Al Saud said that the Riyadh Family Office Summit next October 31-November 2 will be a bridge connecting international companies and families seeking to expand their presence in the Kingdom of Saudi Arabia with aligned investors and co-investors. Looks like it is an exciting season for Saudi Arabia with Vision 2030 actively in force. What’s your opinion about this exciting new market?
A. We applaud the Kingdom's 2030 vision including its commitment to sustainable economic growth. This event is an incredible opportunity for international organisations to be the first to enter the Saudi market and establish a footprint. It's exciting to have a record number of Middle East family office investors joining. In a small way, this gathering is making history. This is the first time that a non-Saudi Family Office hosts a global audience from the Gulf Cooperation Council (GCC) including Saudi Arabia, Bahrain, Kuwait, Oman, and the United Arab Emirates, with international families and selected presenting companies from the United States, Europe, Australia, and Latin America. The timing of this Summit is truly significant as the group celebrates Saudi Arabia’s 2030 Vision to be a pioneer in developing quality investments to facilitate sustainable economic growth. As private-public sector leaders, attendees understand the tremendous responsibility they jointly share and are committed to two days of results-oriented discussions regarding how best to solve today’s complex global challenges.