UAE - Why Dalio CZ And Other Billionaires Are Flocking To Abu Dhabi | Benzinga
Hedge fund maestro Ray Dalio calls the United Arab Emirates a “renaissance state” — rather for financial reasons than human rights factors.
He and dozens of billionaires are willing to overlook the moral maze for a safer — and cheaper — place to barricade their wealth.
Dalio and Changpeng Zhao — or CZ, the world’s richest cryptocurrency titan — are among the many high-net-worth individuals to park their investments in Abu Dhabi-based special purpose vehicles (SPVs) this year, according to data gathered by Bloomberg.
An SPV is essentially a holding company most commonly used to isolate assets that companies, or individuals, don’t want to appear on their balance sheets.
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