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Billionaires

January 31, 2019

Ford family to keep their hands on the helm, Rothschild family sell last piece of Austrian land after 200 years, and watchmaker Patek Philippe curbs talk of potential sale.

Ford family to keep their hands on the wheel

The Ford family say they have no plans to give up the company that has been under their control for 115 years—despite the automaker entering a strategic partnership with Volkswagen (VW).

During an on stage interview at the North American International Auto Show in Detroit last week, fourth generation chief executive Bill Ford (pictured) said a co-ownership deal between Ford Motor Company and VW “never came up” and was not likely to happen in the future.

January 25, 2019

Henry Sy, the Philippines richest man and shopping mall tycoon, dies aged 94, Cosentino Group opens its fifth centre in Stockholm, Brexit champion James Dyson denies hypocrisy in moving HQ to Singapore.

Henry Sy, the Philippines richest man and shopping mall tycoon, dies aged 94

Henry Sy (pictured), founder and chairman emeritus of family-owned SM Investments—one of the Philippines’ largest conglomerates— has died “peacefully in his sleep” aged 94, according to his company.

He is survived by his wife, Felicidad Tan-Sy, six children—Teresita Sy-Coson, Elizabeth, Henry Jr, Hans, Herbert and Harley—and several grandchildren.

January 24, 2019

Raphael Germinder, executive chairman of packaging giant Pact Group and founder of the Kin family office, has demanded the discount store The Reject Shop release its sales figures early after rebuffing the retailer’s assurances its profits remained steady during the Christmas period.

Raphael Germinder, executive chairman of packaging giant Pact Group and founder of the Kin family office, has demanded the Australian discount store The Reject Shop release its sales figures early after rebuffing the retailer’s assurances its profits remained steady during the Christmas period.

January 16, 2019

Reuben Brothers’ bid for Santander headquarters backed by Spanish court, historic Ascott Raffles Place sold to Singaporean property tycoon, wealthy populations in emerging nations on track for fastest growth.

Reuben Brothers’ bid for Santander headquarters backed by Spanish court

UK billionaire brothers David and Simon Reuben have won a tender for Banco Santander’s headquarters near Madrid with an offer of $325 million after a Spanish court ruled in their favour.

The privately-owned Reuben Brothers Resources Group beat a rival bid by Santander, which pays millions of euros in monthly rent for the 250 hectare plot whose nine buildings include offices, restaurants and a residence for its employees.

November 21, 2018

Victor Li transforming father’s old empire through new tech, Michael Bloomberg donates $1.8 billion to John Hopkins University, and profits rise to $1.4 billion at top Scottish family firms.

Victor Li transforming his father’s empire through new tech

Victor Li, son of Hong Kong’s richest family and current chairman of CK Hutchinson Holdings, has forged partnerships with a slew of mainland Chinese technology companies after taking over from his father earlier this year.

Li (pictured) succeeded his 90-year-old father Li Ka-Shing as head of first-generation family business CK Group in May.

November 2, 2018

Tycoon’s sudden death brings succession into the spotlight, billionaire family behind Tetra Pak revealed as IFF shareholder, IFC releases draft impact investing guidelines.

Tycoon’s sudden death brings succession into the spotlight

The sudden death of self-made billionaire Vichai Srivaddhanaprabha has left a vacuum at the top of his family-run business empire and placed a spotlight on his heirs.

Vichai, founder and chairman of duty-free giant King Power International Group, died in a helicopter crash after watching his football team Leicester City play West Ham in the English Premier League on Saturday.

October 30, 2018

A vast increase of wealth among the world’s aging billionaire population is creating a new wave of powerful multigenerational families, according to the new Billionaires Insights 2018 report.

A vast increase of wealth among the world’s aging billionaire population is creating a new wave of powerful multigenerational families, according to the new Billionaires Insights 2018 report.

The world’s 2,158 billionaires collectively increased their wealth by $1.4 trillion last year to $8.9 trillion—the largest absolute increase in billionaire wealth history.

A total of 199 billionaires were created over the year globally, with nearly one-third gaining their wealth through some form of innovation.

October 22, 2018

Mohammed ‘Mo’ Dewji, Africa’s youngest billionaire and president of multi-billion dollar family business MeTL Group, has been freed unharmed, a week after he was kidnapped by gunmen outside a luxury hotel.

Mohammed ‘Mo’ Dewji, Africa’s youngest billionaire and president of multi-billion dollar family business MeTL Group, has been freed unharmed, a week after he was kidnapped by gunmen outside a luxury hotel.

In the early hours of Saturday morning, Dewji, 43, used his charity's Twitter account, the Mo Dewji Foundation, to announce he had been released.

“I thank Allah that I have returned home safely,” the tweet said

October 19, 2018

Paul Allen, Microsoft co-founder, philanthropist and head of the Allen family office Vulcan, has died aged 65.

Vulcan, which managed his business and philanthropic interests, said in a statement he died in Seattle from complications related to non-Hodgkin’s lymphoma, only two weeks after Allen announced he was being treated for the disease.

Allen was among the world’s wealthiest individuals and, at the time of his death, ranked 44th on Forbes 2018 list of billionaires with an estimated net worth of more than $20 billion.

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