Uniting together to invest and create a better future remains top of mind for leading global family offices, according to Sir Anthony Ritossa, an impact investor and philanthropist who is the Chairman of Ritossa Family Office based in Dubai.
“Being able to help others is the greatest form of wealth,” Sir Anthony says, “and leading families around the world are increasingly embracing the concept of impactful philanthropy as an important component of the family legacy over generations.” He notes that philanthropy often wears several hats as there are opportunities to be philanthropic via donations of time, in-kind donations, trusted counsel and expertise – in addition to financial support.
“There is no better time than now to be a philanthropist,” says Sir Anthony. As a new geo-political world emerges, it is essential for investors to re-examine their philanthropic initiatives – in addition to their investment portfolios. Macro factors that impact global family offices include the fact that Europe is experiencing serious repercussions from the Ukraine War with no near-term solution, the US-China rivalry, supply chain issues, travel challenges, and a strong trend toward deglobalization. Considering these challenges, it is more important than ever for wealthy families to ramp up their charitable initiatives.
An urgent need exists for philanthropic donations that support areas such as education, families in need of emergency support, and healthcare. As an example, Sir Anthony supports various healthcare non-profits and has restored the eyesight of 400 individuals through his donations, including one individual who Sir Anthony supported financially that needed elective cancer treatment that proved successful. He is also passionate about ocean conservation, including re-generation of coral reefs in areas such as The Maldives. His entire family, including his son Hugo, is involved in the mission to fight climate change.
One of the recent Ritossa Summits spotlighted Muvule, that gives Microloans to women in Uganda to help them grow their businesses and escape poverty. Family offices continue to show keen interest in the opportunity as a way to make a difference.
“Immeasurable love for family and community, and a constant healthy life balance is a path to success. I have found that individuals and companies that achieve success are those who are committed to living a life based on impact. I’m a firm believer in the power of family offices as an economic engine and a force for good,” says Sir Anthony.
