Is Gautam Adani also considering opening family office abroad?

As the global billionaires setting up their family office branches abroad trends, there are reports that Asia’s richest person, Gautam Adani, is also considering setting up a family office overseas to manage his ballooning wealth.

The chairman of the ports-to-power Adani Group conglomerate is looking at Dubai or New York as the base for the office, which will invest the Adani family’s personal funds, as per reports.

The move comes amid a $58 billion surge in Adani’s personal wealth this year -- the most among the world’s richest people, according to the Bloomberg Billionaires Index.

If Adani, with a net worth of $135 billion, follows through on this plan, he’ll join a crop of ultra-rich who have family offices to manage their wealth, personal investments and philanthropy.

Prior to this, Hedge fund billionaire Ray Dalio and Google co-founder Sergey Brin have set theirs up in Singapore while Adani’s compatriot and Asia’s second-richest person, Mukesh Ambani, is also in the process of opening a family office in Singapore.