THE LUXURY OF WEALTH AT THE RITOSSA DUBAI SUMMIT 2021

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Sir Anthony Ritossa’s 17th Global Family Office Investment Summit was path breaking, Under the High Patronage of H.E. Dr. Thani Al Zeyoudi Minister of State for Foreign Trade and Minister in charge of Talent Attraction and Retention at Ministry of Economy, UAE which coincided with the launch of Dubai Expo 2020, attracted 500+ elite family offices, private investors, Sheikhs, royal families, and leading businesses from 55+ countries representing more than $4.5 trillion in wealth.

As Together Matters for Elite International Family Offices, Private Investors, Entrepreneurs and World Leaders Convening at Sir Anthony Ritossa’s Global Family Office Investment Summit, the theme set was, “Connected Minds Share Best Investment Strategies & Thought Leadership for a Better Tomorrow.”

Sir Anthony Ritossa, Chairman, Ritossa Family Office, UAE

“In the safe harbor of Dubai, today’s Leading International Business Hub, our Family Office Investment Summit is the foremost Global Gathering of Elite Family Offices and High-Profile Private Investors. Meeting in person, exchanging rich thought leadership, ensuring safe investing, legacy building and making the world a better place is a conscious power families possess.

Our mission is to work together for a better tomorrow.” said Sir Anthony Ritossa, Chairman, Ritossa Family Office, UAE.

Sir Anthony Ritossa, Chairman, Ritossa Family Office, UAE with H.E. Dr. Thani Al Zeyoudi Minister of State for Foreign Trade and Minister in charge of Talent Attraction and Retention at Ministry of Economy, UAE
Sir Anthony Ritossa, Chairman, Ritossa Family Office, Vanessa A. Eriksson, CEO, Ritossa Family Office with GB Bajaj, Wealth & Luxury Strategist

“I am so proud to be honoring the glowing strategic direction of the Ministry Of Economy, UAE with H.E. Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade as well as holding the position of Minister in charge of Talent Attraction and Retention at Ministry Of Economy, UAE.

The UAE is cementing its position as the leading business destination at regional and global levels attracting incoming business partnerships and foreign investments. UAE’s key areas of focus are Impact Investing, Renewable Energy, Healthcare, Education, Biotech, Fintech, Space, Real estate, Hospitality, and A.I. H.E. Dr. Thani bin Ahmed Al Zeyoudi is devoted to attracting the best talents and competencies to serve the strategic direction of the UAE.

Thank you, Your Excellency, for providing us with your High Patronage and that of The Ministry of Economy and honoring our Conference with your active participation. Ritossa Family Office looks forward to our long-term friendship and collaboration.”

Sir Anthony Ritossa, Chairman of Ritossa Family Office & Host of Ritossa Global Family Office Investment Summits, UAE.

Mohamed Al Ali, CEO, Al Ali Holdings, UAE with Sir Anthony Ritossa, Chairman, Ritossa Family Office

Personal message from our Distinguished Grand Ambassador for the 17th Ritossa Global Family Office Investment Summit:

“It is an honor and a pleasure to be the 17th Ritossa Global Family Office Investment Grand Ambassador in Dubai on December 12-14, 2021. I have taken part in many events in the past years, and have always been amazed at the quality of the participants and at the wealth of information that was circulated.” said Mohamed Al Ali, CEO, Al Ali Holdings, UAE

The 17th Family Office Investment Summit in Dubai brings together the world’s top family business owners and private investors to engage in discussion and debate of the most critical issues facing our planet. As we convene in a LIVE in person safe harbor environment, I’m humbled for being recogniZed as the World’s No.1 Investment Summit. I also appreciate the important responsibility we have in terms of wealth allocation and social responsibility. It is an honour to host such an illustrious group, and I appreciate the High Patronage of the United Arab Emirates Ministry of Economy, and in particular the support of esteemed H.E. Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade & Minister in charge of Talent Attraction and Retention at the Ministry of Economy. I also appreciate the support of my dear friend Hussein Sayed, Summit Chairman and also Mohamed Al Ali, the Grand Ambassador for the Summit, and all of the esteemed delegates joining”.  Sir Anthony Ritossa, Chairman of Ritossa Family Office & Host of Ritossa Global Family Office Investment Summits, UAE.

The Gulf Cooperation Council (GCC) economies, compromising of six-member countries, is expected to grow at their fastest paces through 2030, due to higher oil prices, post coronavirus tourism recovery and investment induced environment into industries and service sector with robust non-oil sector, are expected to boost their recovery and add to the economic momentum, with GDP to expand by around 6% in 2022. UAE boasts the highest sovereign credit rating of any country in the region 

The UAE in particular, with the Expo 2020 Dubai and rebounding tourism has enjoyed a strong economic growth and the positive spill over effects of the EXPO 2020 will boost UAE GDP and domestic demand.

H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, UAE

“The UAE is envisioning the future beyond the COVID 19 crisis and we are working toward doubling our economy by 2030. We count on our private sector partners by continuing to work with us on strengthening our economic model to achieve this goal. To make this journey as effortless as possible for them, we are constantly enhancing the openness of our economy and liberalising various sectors in line with the UAE’s strategic priorities and directions. Apart from benefitting from an array of incentives and latest law amendments related to full foreign ownership, bankruptcy, commercial companies and long-term residencies/citizenship, investors, entrepreneurs and creative minds can also capitalise on the country’s state-of-the-art infrastructure, superior connectivity and its highly evolved ecosystem of incubators, accelerators and investors. And yet, these are only few of the factors that make the UAE the bustling global trade and investment hub that it is today.”

Quote from Our Patron H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, UAE.

The tourism sector had rebounded and been strong due to the EXPO 2020 and the covid restrictions majorly relaxed in UAE, certainly helped the UAE economies.

The business reforms along with vibrant business ecosystem, announced during the EXPO 2020, domestic demand strengthened, has put Dubai in the most favored place for foreign direct investment and expected to see strong FDI flows into Dubai, through 2030 and expected the economy will grow by 5% to 6%. Despite the challenges the world faced in the past year, during which foreign direct investment declined globally by 42 per cent (from $1.5 trillion in 2019 to $859 billion in 2020), Dubai succeeded in attracting high volumes of FDI. This is a testament to UAE’s economy’s resilience and stability.

“Family Offices Uniting Together & Investing For A Brighter Future” is the theme for our Dubai Summit 2021 & will act as a bridge between Middle East families and their European, U.S., Asian, Latin American & Israeli counterparts to meet, network and exchange information and ideas to start the journey of discovery and venturing together between likeminded peers in a safe-harbour environment.

Sir Anthony Ritossa’s 17th Global Family Office Investment Summit which was held on December 12-14, 2021 at the opulent Waldorf Astoria Dubai Palm Jumeirah, coincided with the Dubai Expo 2020. Sir Anthony Ritossa’s Dubai Conference attracts 500+ elite family offices, private investors, Sheikhs, royal families, and leading businesses from 55+ countries representing more than $4.5 trillion in wealth.

Government stimulus spending and private partnerships are expected to spur investments in GCC’s infrastructure and construction sector, aimed at economic recovery.

It was estimated around mid 2021, the total GCC (Gulf Cooperation Council) construction project market was estimated to be worth US$3.2 trillion, included buildings, infrastructure, industrial, hotels, healthcare, and education facilities along with the power & water, and oil & gas sectors, with the UAE and Saudi at the forefront of the sector. The development of infrastructure and of services is imperative to make UAE and Dubai the ideal destination, for dreams to come reality in UAE.

At the “Batter Up!” Best Ideas Pitching, panel discussion, the panels view on key criteria’s to invest in projects/ideas, main was to have competitive advantage in the market, management team that complements each other, size of the market, focus on frontier, Disruptive technologies. Fund managers have big responsibilities; not only in timing the markets and life cycles of technology and business cycles, choosing the right tech to invest and companies to invest, from construction to tech cos. Fear and greed emotions play a vital role in investing. Invest in Deep tech, which integrates with innovative and creative technology, makes a positive impact on society and ecosystem, providing lucrative opportunities for investing.

The handling of the covid pandemic by UAE government was praised, with the UAE government, which executed an exceptional task, to prevent the spread of Covid-19, and kept businesses running and jobs alive, tourists’ inflows steady, with its foresight and proactive policies helped to create opportunities out of the challenges and spurred the development and investments. The UAE government supported the initiatives and policies to bolster demand, along with an increase in domestic tourism during EXPO 2020, to make it a success. The superb handling of the covid pandemic resulted in high tourists’ inflows, the hospitality sector booming with amazing profits.

The importance of AI investing and AI for enterprises and governments was discussed, its ethical use, criteria’s for investing on AI projects – such as AI investments that reduce risk, Select an appropriate AI partner, Strategic priorities to be defined, specific key performance indicators (KPIs) to measure return on investment, Align challenges, opportunities and use cases to strategic business objectives. AI is imp role for all.

      Vanessa A. Eriksson, CEO, Ritossa Family Office with Mitch Lowe Netflix Founding VP

Netflix has done a tremendous transformation for the entertainment industry, as Mitch Lowe Netflix Founding VP chatted with Vanessa A. Eriksson, CEO, Ritossa Family Office.

During covid pandemic, Netflix recorded very strong growth with new seasons of some of the biggest hits, new sitcoms and exciting films, helped by binge-watching habits of Netflix users, due to the lockdowns announced, as Covid was a great enabler for streaming services.

Even faced with increased competition from new streaming services, such as Disney+, with 100 million subscribers in March 2021 and HBO Max and Peacock, Netflix with about 200 million subscribers and the competitive intensity, Netflix was the preferred choice for viewing, and with $150bn spent on new content for its viewers. Netflix Inc. recorded strong growth in 2020 and rate of growth slowed down in 2021, due to the pandemic fears fading and reopening, was cited as cause of slowdown by Mitch. Mena has voracious appetite for content with challenge for sustaining to quality and growth for Netflix. Mitch reiterated, its renaissance period for creators and share with the world, Enjoy entertainment. 

Best Selling Author, Daven Michaels, CEO, Current C Power, USA

The Ultra Exclusive Keynote Thought Leadership Presentation by Best Selling Author, Daven Michaels, CEO, Current C Power, USA on “Eradicating Global Poverty with Blockchain.”

Inspite of many new Billionaires and multi millionaires created, poverty has still not been completely eradicated or reduced to a great extent, even having technology to assist. According to the experts, 85% percent of people on this planet live in poverty—living on less than $30 per day—and 10% of people live in extreme poverty—living on less than $1.90 per day.

The private sector/corporate sector working in tandem with non-profit organizations/NGO’s aimed at completely eradicating or reducing poverty, but are limited by the amount of money they can fundraise from concerned citizens or win grants from private sector/corporate sector.

To solve the underlying, systemic issues that are keeping a big percentage of population below poverty line, the nation’s government to the rescue, but limited and dependent on size of population and per capita income, bureaucracy, corruption, it can find limited maneurvability to reduce poverty, if not completely eradicate it.

The case study Gaven took was of the Farmers in India, when they organized massive demonstrations and marched across the country, protesting against 2020 “farm laws” that were aimed at deregulating the agriculture industry. But the farmer unions were skeptical on the purpose of that legislation, as to restore competition to produce markets, hopefully leading to better prices for the farmers, will lead to complete manipulation. So the farmers objected for more than a year, and they won with the new laws being repealed. 

India implemented their very own Agricultural Produce Market Committees (APMCs) in the 1970s and was accepted by most state legislatures, formed to ensure farmers get a fair price for their produce, to protect them from being exploited by money lenders, and to eliminate their marketing expenses. 

APMCs require all produce to be sold in a regulated market, at auction, to a small number to licensed intermediaries, unfortunately, the mechanism that APMCs rely upon had a nearly opposite effect. The APMCs created a cartel-like monopoly that made it nearly impossible for most farmers to break even, and the licensed intermediaries began colluding around rock-bottom prices.

This manipulated and corrupted system requires secure decentralized automated system, without middle men/intermediaries, that could secure private contracts without needing any heavy-handed government intervention, the solution is Blockchain technology with amazing feature called “smart contracts” that don’t rely on trust or oversight to secure a transaction.

Transactions on the Blockchain are entered onto a publicly accessible shared ledger/distributed ledger on consensus basis, authenticating a sender and validate the currency being sent, with each transaction including a unique “digital signature” that prevents the ledger entry from being altered by anyone for any reason.

Making Blockchain more efficient than the government, with Blockchain transactions more secure and reliable than any contract “protected” by a government.

Providing access to cheap capital for farmers, DeFi is the solution, as farmers currently borrow at 25% to 50% and have grave difficulties paying back, leading to suicides.

Josef Holm, Founding Partner, Draper Goren Holm with GB Bajaj