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philanthropy

July 9, 2014

Peter Wege, a significant donor to environmental causes and the former second-gen vice chairman of furniture family business Steelcase, has died in Michigan, US, aged 94.

Peter Wege, a significant donor to environmental causes and the former second-gen vice chairman of furniture family business Steelcase, has died in Michigan, US, aged 94.

Founded in 1912 by Wege’s father, Peter Martin Wege, Steelcase is the world’s largest office furniture manufacturer, reporting revenues of $2.9 billion last year.

March 13, 2014

Majid and Badr Jafar are busy guiding Crescent Group through expansion in Iraq, embracing global diversification, and tackling family governance. They are also sounding the alarm over the bulge in Arab youth unemployment, and the $700 billion family business governance time bomb. CampdenFB reports 

Badr Jafar has had a long day. Dressed in immaculate business attire, his tie is askew and, although it is mid-afternoon, he’s still got a packed schedule for the rest of his day. In the evening, he flies to New York for a meeting at the United Nations about the Pearl Initiative, the private-sector partnership he set up to enrich Gulf corporate accountability and transparency.

February 19, 2014

Corruption, red tape and staffing pressures have been some of the key risks weighing on Russian entrepreneurs’ minds in the past 12 months, but the investment outlook is still buoyant and there is an increasing interest in the family office model. CampdenFB reports

Russia continues to offer great rewards and great challenges for its wealthy. The process of getting rich, however, is different to the process of staying rich. The fourth annual UBS/Campden Wealth report, Russia’s Wealth Creators, highlighted corruption, too much regulation and the greater need, but limited ability, to secure qualified management and staff, as the key challenges facing Russia’s entrepreneurs. These particular challenges have grown dramatically in importance when compared to last year’s survey.

January 23, 2014

A third-generation member of the family behind US outdoor clothing chain L.L. Bean has donated the island where his grandfather, the family business's founder, hunted for ducks to a conservation charity.

A third-generation member of the family behind US outdoor clothing chain L.L. Bean has donated the island where his grandfather, the family business's founder, hunted for ducks to a conservation charity.

November 21, 2013

Leading luxury family empire LVMH has launched an initiative this week to support young designers.

Leading luxury family empire LVMH has launched an initiative this week to support young designers.

Announced by second-gen Delphine Arnault, the international award is open to designers 40-years-old or younger, who have already created two ready-to-wear men’s or women’s collections.

A panel of judges, including Karl Lagerfield and Marc Jacobs will decide on the winner, who will receive €300,000 to invest in their fashion company and support from a team of experts from LVMH to help them develop it over a period of 12 months.

October 9, 2013

A top athlete’s name, money and drive can be an incredible boost for a charity, but does a career at the pinnacle of sport prepare you for life as a philanthropist? CampdenFB reports

After the final slog towards the Arc de Triomphe on the last leg of the 2005 Tour de France, world famous cyclist Lance Armstrong took to the podium to take the yellow jersey for a record-breaking seventh time.

Over the course of his career “le Boss” had become a household name – his tale made all the more powerful because it was a near miracle that he had ever raced at all. At the age of 25, Armstrong had been diagnosed with advanced testicular cancer, and even after hasty surgery doctors had only given him a 40% chance of survival. But survive he did.

July 15, 2013

A new generation of philanthropists is making the world a better place, and making money too. But think carefully before you embark on a social enterprise.

At a time when the world is still feeling the effects of the worst financial crisis since the 1930s and banker bashing is a global pastime, communities and policymakers are seeking ways to carve out a better future.

June 17, 2013

Entrepreneurship has superseded inheritance as the main source of wealth creation in developed economies, according to a global survey of high net worth individuals.

Entrepreneurship has superseded inheritance as the main source of wealth creation in developed economies, according to a global survey of high net worth individuals, while in developing economies many entrepreneurs are now dealing with succession and inheritance planning for the first time.

The Barclays survey – Origins and Legacy: The Changing Order of Wealth Creation – found that there has been a big shift in the way the world’s wealthiest are spending and sharing their money due to changing patterns of wealth creation.

June 14, 2013

The Clinton Foundation, the multi-billion dollar philanthropic organisation founded by former US president Bill Clinton in 2001, is to be renamed the Bill, Hillary and Chelsea Clinton Foundation to reflect the roles of the entire family in the organisation.
 

The Clinton Foundation, the multi-billion dollar philanthropic organisation founded by former US president Bill Clinton in 2001, is to be renamed the Bill, Hillary and Chelsea Clinton Foundation to reflect the roles of the entire family in the organisation.

The Clintons made the announcement on 13 June at the third-annual meeting of the Clinton Global Initiative America, at the Sheraton Hotel in Chicago.

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