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Billionaires

July 24, 2019

Louvre removes Sackler family from museum walls, France’s Bernard Arnault pips Bill Gates as world’s second-richest person and Family-funded Illuminated River project goes live.

Louvre removes Sackler family from museum walls

France’s Louvre Museum has erased the Sackler name from its walls, removing any physical trace of its ties to the billionaire family that owns opioid manufacturer Purdue Pharma.

The art philanthropist family’s name was quietly removed from a wing dedicated to eastern antiquities over the last few weeks, The New York Times reported.

The wing has been known as the Sackler Wing of Oriental Antiquities since 1997.

July 17, 2019

Leslie Wexner distances himself from Jeffrey Epstein after criticism, Musgrave Group invest €2.6 million in sustainable food emporiums and Remy Cointreau searches for new chief executive as non-family director steps down.

Leslie Wexner distances himself from Jeffrey Epstein after criticism

Leslie Wexner, founder of US fashion retailer L Brands, has broken his silence about his association with financier Jeffery Epstein, who has been arrested on charges related to the sex-trafficking of minors.

Last week, Epstein was charged in New York with two federal counts related to the sex-trafficking of minors, to which he pleaded not guilty. If convicted, he faces up to 45 years in prison.

July 11, 2019

Ross Perot, billionaire and philanthropist, dies aged 89, Marc Perrin elected as new president of PFV and Chinese real estate empire scion succeeds as chairman after father’s arrest.

Ross Perot, billionaire and philanthropist, dies aged 89

US billionaire tech entrepreneur, philanthropist and former presidential candidate Ross Perot has died at aged 89, with his five children taking over the family business. 

James Fuller, a representative for the Perot family, said Perot, who ran for president in 1992 and 1996 passed away at his home in Dallas, Texas surrounded by his family after battling leukaemia for five months.

June 25, 2019

US billionaire families call for tax on extreme wealth, Billionaire David Bonderman’s family office invests in fertility chain, and JAB bolsters pet holdings with global vet acquisition.

US billionaire families call for tax on extreme wealth

A group of US billionaires and their families have called for a new government wealth tax to address income inequality and provide funding for climate change and public health initiatives.

The group, including financier George Soros and his son Alexander, heiresses Liesel and Regan Pritzker, Abigail Disney and Facebook co-founder Chris Hughes, released a bipartisan letter asking the US 2020 presidential candidates to support a tax on the wealthiest American dynasties.

June 19, 2019

Telecoms billionaire Patrick Drahi buys Sotheby’s, Mulliez family buy stake in Kenya’s Twiga Foods, and US heiress Gloria Vanderbilt dies aged 95.

Telecoms billionaire Patrick Drahi buys Sotheby’s

Patrick Drahi, founder and chairman of telecoms giant Altice, is buying Sotheby’s auction house in a deal worth $3.7 billion, taking it private after more than three decades as a public company.

In a statement, New York-based Sotheby’s, which celebrated its 275th anniversary this year, said it had accepted an offer from BidFair USA—Drahi’s holding company.

June 12, 2019

Mexican tequila tycoon transfers wealth to daughter, US cable billionaire buy Italy’s Fiorentina Football Club and Indian tech chairman Azim Premji passes baton to son.

Mexican tequila president transfers wealth to daughter

The family behind the world’s bestselling tequila has undergone a wealth transfer as part of the family’s succession plan.

In a statement sent to the Mexican Stock Exchange, Becle SAB, the holding company that owns tequila brand Jose Cuervo, said president Juan Francisco Beckmann had completed the transfer of more than half his stake to his daughter, 12th generation family member Karen Virginia Beckmann.

June 6, 2019

Bollinger family buys into UK wine merchant, Springer family and KKR consider bid to take Axel Springer private, and James Packer sells half his stake in Crown to Hong Kong's Melco.

Bollinger family buys into UK wine merchant

One of France’s most established winemaking families has bought a minority stake in a UK-based fine wine merchant backed by City tycoon Michael Spencer.

Société Jacques Bollinger (SJB), the family-owned holding company behind Bollinger and Ayala Champagnes, is understood to have acquired a minority stake of up to 10% in BI Wines and Spirits.

May 29, 2019

Hong Kong property tycoon hands reins to his two sons, Pentland-owned Speedo teams up with House of Holland, and Japanese billionaire sues family over removal from company.

Hong Kong property tycoon hands reins to his two sons

Lee Shau-Kee, Hong Kong’s second-wealthiest man, has retired as chairman of Henderson Land Development, handing over the reins of his property company to his two sons.

In a stock exchange filing, Henderson said Lee, who turned 90 in March, stepped away “due to his advanced age” and would be succeeded by his two sons Peter Lee Ka-kit and Martin Lee Ka-shing, who will take over as joint chairmen and managing directors.

May 22, 2019

JAB-owned Pret A Manger buys rival Eat, Jaguar Land Rover reports record $4.6 billion loss, and LVMH buys rosé producer Chateau du Goloupet.

JAB-owned Pret A Manger buys rival Eat

UK sandwich chain Pret A Manger has agreed to buy its rival Eat for an undisclosed fee to take advantage of the appetite for vegetarian and vegan foods.

Pret, owned by JAB Holding, said it plans to convert as many of the 94 Eat shops as possible to its new Veggie Pret concept in response to a demand for more vegan and vegetarian options on the high street.

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