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June 23, 2017

CK Hutchison Holdings patriarch to step aside; Batista family fighting to avoid asset freeze in corruption probe; and Cyber-attacks plague UK business

CK Hutchison Holdings patriarch to step aside

Hong Kong billionaire Li Ka-Shing, 88, has announced he will step down as the chairman of multinational conglomerate CK Hutchison Holdings, which he founded more than 60 years ago.

Li turns 89 in July and said he was unlikely to resign before his 90th birthday. A story by MarketWatch named son and deputy president Victor Li as his likely successor. The younger Li has spent more than 30 years working under his father.

September 23, 2014

The global billionaire population is concentrated in a small collection of cities, new research reveals, with the uber wealthy seeking domiciles that balance business with pleasure.

The global billionaire population is concentrated in a small collection of cities, new research reveals, with the uber wealthy seeking domiciles that balance business with pleasure.

The top five cities for billionaires, according to the Billionaire Census 2014, released by Wealth-X and UBS, are New York, Moscow, Hong Kong, London, and Beijing, which together host 379 of the world’s most wealthy.

December 26, 2012

What does your average multi-millionaire look like? White? Middle-aged? Wearing the obligatory suit and tie? Not according to a new series set to be broadcast this year.

What does your average multi-millionaire look like? White? Middle-aged? Wearing the obligatory suit and tie? Not according to a new series set to be broadcast this year.

Changing Fortunes traces how the major events in the latter half of the 20th century radically changed the demographic of the world’s wealthy. According to its makers, the rich are getting younger and more racially diverse – plus there are more self-made women.

December 12, 2011

Multi-billionaire Warren Buffett, chairman and chief executive of investment company Berkshire Hathaway, has confirmed his son Howard will head the family business after his death.

Multi-billionaire Warren Buffett, chairman and chief executive of investment company Berkshire Hathaway, has confirmed his son Howard will head the family business after his death.

In an interview with US TV programme 60Minutes, which aired on 11 December, Buffett, 81, said he wants his second-oldest child Howard, 56, to succeed him as chairman of the Omaha, Nebraska-based company.

August 16, 2011

Few multi-billionaires have such universal appeal as Warren Buffett. The Sage of Omaha, famed for driving an old car, living in the same house he bought in the late 1950s and drinking cheery coke, is the acceptable face of a billionaire, if there has ever been one.

Few multi-billionaires have such universal appeal as Warren Buffett. The Sage of Omaha, famed for driving an old car, living in the same house he bought in the late 1950s and drinking cheery coke, is the acceptable face of a billionaire, if there has ever been one.

And true to form, Buffett, who has already pledged all his money to charitable causes when he dies, has come up with an idea that will further endear him to the public – it’s called taxing the rich more.

February 17, 2011

For the first time in over 10 years, Russian oligarch Roman Abramovich has released details of his assets, which are worth an estimated £11 billion

For the first time in over 10 years, Russian oligarch Roman Abramovich has released details of his assets, which are worth an estimated £11 billion.

January 18, 2011

Hong Kong-based conglomerate Hutchison Whampoa, controlled by billionaire Li Ka-shing, announced on 17 January plans to list its new entity, Port Holdings Trust. The initial public offering could be Singapore’s biggest ever and add significantly to the fortunes of Hong Kong’s wealthiest man.

Hong Kong-based conglomerate Hutchison Whampoa, controlled by billionaire Li Ka-shing, announced on 17 January plans to list its new entity, Port Holdings Trust. The initial public offering could be Singapore’s biggest ever and add significantly to the fortunes of Hong Kong’s wealthiest man.

The world’s largest container-terminal operator plans to list its deep-water port holdings in Hong Kong and southern China, while still retaining a 25% stake in the trust that currently owns the terminals.

January 17, 2011

Privately owned real estate and entertainment company, the Trump Organisation, has announced plans to enter the Indian property market with a luxury residential tower in the city of Mumbai.

Privately owned real estate and entertainment company, the Trump Organisation, has announced plans to enter the Indian property market with a luxury residential tower in the city of Mumbai.

The New-York based company, owned and managed by Donald Trump, is to work with Indian developers Rohan Lifescapes for its first venture in India, said a report in Bloomberg.

Executive vice president, Donald Trump Jr, told Bloomberg: "The market place (in India) is beginning to understand and appreciate luxury, so there is a great opening for us there, as well as in resorts"

January 12, 2011

Amancia Ortego, the billionaire founder of Spain-based Inditex Group, owner of clothing brand Zara, plans to retire as chairman of the company he started 25 years ago, leading to speculation that his daughter might be the eventual heir apparent.

Amancia Ortego, the billionaire founder of Spain-based Inditex Group, owner of clothing brand Zara, plans to retire as chairman of the company he started 25 years ago, leading to speculation that his daughter might be the eventual heir apparent.

He will be replaced by non-family member Pablo Isla, the current chief executive and chairman, but some insiders reckon that his youngest daughter, Marta Ortego Perez, will eventually take control of Inditex.  

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