The man was first presented publicly in December 2023 when he signed a memorandum of understanding with the Hong Kong Middle East Business Chamber. In mid‑March he told Bloomberg he would open an office in Hong Kong to manage and invest his familyĂs USD 500 million portfolio. He spoke at the cityĂs "Wealth for Good" summit on March 27 and met the chief executive on March 26. An inauguration planned for March 28 was postponed to May.
On April 2 the South China Morning Post reported questions about his identity. It said he has a public persona as Alira, an Emirati pop star popular in the Philippines, and that the office address matched a firm linked to Macau casino operators. Some key staff reportedly came from an entertainment company called Here4U.
The government said it has not invested in family offices and will not give extra policy benefits. Public concern includes fears of a scam or tax avoidance, and the US SEC issued a warning on April 7. No harm has been reported.
Difficult words
- memorandum — a written agreement between two groupsmemorandum of understanding
- portfolio — a group of a person's investments or money
- inauguration — a formal ceremony to start an event or office
- persona — the public image or character someone shows
- scam — a dishonest plan to take people's money
- tax avoidance — methods to reduce the amount of tax paid
Tip: hover, focus or tap highlighted words in the article to see quick definitions while you read or listen.
Discussion questions
- Which detail in the story made people worry?
- Would you trust a new office if you heard reports about its identity? Why or why not?
- What information would you want before trusting a new investment office?
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