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Billionaires

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.

May 15, 2019

Asia’s richest man buys UK’s Hamleys for $88 million, Coca Cola heir arrested after $1.3 million in cannabis found on private jet, and billionaire Barclay brother sues French writer over play.

Asia’s richest man buys UK’s Hamleys for $88 million.

British toy maker Hamleys has been sold to Asia’s richest man, Mukesh Ambani, for £68 million ($88 million)—the latest in a string of retail acquisitions by his family conglomerate, Reliance Industries.

Ambani’s Reliance Brands, a subsidiary of Reliance Industries, announced it had bought the 260-year-old toy retailer from Hong Kong-listed Chinese fashion firm C Banner International Holdings.

May 9, 2019

Alannah Weston has succeeded her father, Galen Weston, as chairwoman of Selfridges Group.

Alannah Weston has succeeded her father, Galen Weston, as chairwoman of Selfridges Group.

Weston, 47, served as deputy chair of the luxury group since 2014, which includes Selfridges and Co in the UK, Holt Renfrew in Canada, de Bijenkorf in the Netherlands and both Brown Thomas and Arnotts in Ireland.

Her appointment makes her one of the few women to chair such a prominent business.

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