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September 15, 2017

Lotte to sell stores over Chinese missile defence sanctions; youngest-ever chief financial officer steps up at Kraft Heinz; and NZ philanthropist and businessman dies.

Lotte to sell stores over Chinese missile defence sanctions

South Korean chaebol Lotte is to start selling its Chinese supermarkets, after Beijing hit it with unofficial sanctions related to the nuclear arms tensions on the Korean peninsula.

March 24, 2017

David Rockefeller, the international financier, philanthropist and third-generation member of the American Rockefeller oil dynasty, has died aged 101.

David Rockefeller, the international financier, philanthropist and third-generation member of the American Rockefeller oil dynasty, has died aged 101.

He was the oldest living member of the Rockefeller family and was the family patriarch from July 2004 until he died of heart failure at his home in Pocantico Hills, New York, on 20 March. Forbes estimated his net worth to be about $3.3 billion, mostly in family trusts his father established.

February 15, 2017

American billionaire Mike Ilitch, who went from minor league baseball player to founder of a sprawling family business, Ilitch Holdings, has died at the age of 87. 

American billionaire Mike Ilitch, who went from minor league baseball player to founder of a sprawling family business, Ilitch Holdings, has died at the age of 87.

The Detroit-born businessman was known as an All-City athlete in baseball and track, the founder of Little Caesars—now the third-largest pizza chain in the US with 2015 sales of $3.5 billion—and a patron of the city in which he was born.

January 12, 2017

Australian philanthropist James Fairfax, who went from chairman of the eponymous media company to one of the country’s greatest art collectors, has passed away at his home in Bowral. He was 83.

Australian philanthropist James Fairfax, who went from chairman of the eponymous media company to one of the country’s greatest art collectors, has passed away at his home in Bowral. He was 83.

The second child of Sir Warwick Oswald Fairfax rose to prominence after he succeeded his father as chairman of John Fairfax & Sons in 1977, and subsequently led the group as it diversified into television, magazines and regional publications.

July 4, 2016

Multi-billionaire Jack Taylor, who went from Navy fighter pilot during World War II to founder of the largest rental car company in the United States, Enterprise Rent-a-Car, has passed away after a short illness. He was 94.

Multi-billionaire Jack Taylor, who went from Navy fighter pilot during World War II to founder of the largest rental car company in the United States, Enterprise Rent-a-Car, has passed away after a short illness. He was 94.

The Missouri-born businessman got his break in 1957 after founding precursor business Executive Leasing from the basement of a Cadillac dealership in St Louis, where he worked as a salesman.

January 29, 2015

Joseph Rotman, the Canadian businessman and philanthropist who founded private equity firm Clairvest Group, has died in Toronto at the age of 80.

Joseph Rotman, the Canadian businessman and philanthropist who founded private equity firm Clairvest Group, has died in Toronto at the age of 80. 

Rotman founded Clairvest in 1987, which has grown to manage more than C$1.5 billion (€1.05 billion) of equity capital. His son, Kenneth, is now co-chief executive, alongside Jeff Parr. 

January 20, 2015

Peter Wallenberg, the Swedish financier who helmed one of Europe’s largest corporate dynasties for 15 years, has died at the age of 88 in Stockholm County.

Peter Wallenberg, the Swedish financier who helmed one of Europe’s largest corporate dynasties for 15 years, has died at the age of 88 in Stockholm County.

The elder statesman took over the Wallenberg family business following the death of his father in 1982 – a move that many believed would bring about the end of the family’s century-long dominance of the Swedish banking and industrial sectors.

October 8, 2014

The billionaire founder of Europe’s largest shoe retailer, Heinz-Horst Deichmann, has died in Essen, Germany, at the age of 88.

The billionaire founder of Europe’s largest shoe retailer, Heinz-Horst Deichmann, has died in Essen, Germany, at the age of 88.

A keen philanthropist who had an estimated net worth of $4.2 billion (€3.3 billion), Deichmann transformed his father’s cobblers business into the best-known footwear seller on in Europe, with estimated sales of $6 billion in 2013.

September 15, 2014

Isidoro Alvarez, the man who turned his uncle’s small tailoring service into a retail empire, has died at the age of 79 in Madrid. 

Isidoro Alvarez, the man who turned his uncle’s small tailoring service into a retail empire, has died at the age of 79 in Madrid.

The second-gen entrepreneur, who inherited 15% of El Corte Inglés from his uncle, was rushed to hospital last week after complaining of breathing difficulties and died early on Sunday morning from a subsequent heart attack.

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