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Billionaires

October 1, 2019

Family-owned Forever 21 files for bankruptcy, billionaire Carlos Slim’s company confident over Mexican TV licence and Fiji Water billionaires gift $750 million for climate change research.

Family-owned Forever 21 files for bankruptcy

Forever 21, a family-owned teen fashion retailer, has filed for bankruptcy protection, toppled by intense competition and its own rapid expansion.

In a statement, the retailer said as part of its restructuring, it would look to close most of its international stores in Asia and Europe and 178 stores in the US, with up to 350 stores closing overall. It will continue operations in Mexico and Latin America.

September 26, 2019

Families looking to formalise their governance structure should ensure all next generation members are involved in the process so they can voice ideas for their future and contribute to the terms, says next gen Marie-Amelie Jacquet.

Families looking to formalise their governance structure should ensure all next generation members are involved in the process so they can voice ideas for their future and contribute to the terms, says next gen Marie-Amelie Jacquet.

September 24, 2019

Hotel magnate Barron Hilton dies age 91, Volkswagen chief executive faces criminal charges in Germany over ‘dieselgate’ and billionaire Uniqlo founder fears Brexit could turn UK into the ‘sick man of Europe’.

Hotel magnate Barron Hilton dies age 91

Barron Hilton, the hotel magnate who expanded his father’s chain, has died age 91.

In a statement, the Hilton family said Hilton died of natural causes at his home in Los Angeles on Thursday. He is survived by eight children, 15 grandchildren and four great-grandchildren. His wife, Marilyn Hawley Hilton, died in 2004.

“The Hilton family mourns the loss of a remarkable man,” Steven M Hilton, Hilton’s son and chairman of the family’s Conrad N Hilton Foundation, said.

September 10, 2019

Purdue Pharma expected to file for bankruptcy as settlement talks stall, family-owned Geely takes stake in German flying taxi start-up and Oracle’s Larry Ellison steps in to save daughter’s film production company.

Purdue Pharma expected to file for bankruptcy as settlement talks stall

The Sackler family, owners of Oxycontin-maker Purdue Pharma, have rejected a deal that would see them give up $4.5 billion of their personal wealth to settle multiple lawsuits against their company, according to two state attorneys general negotiating with the company.

September 5, 2019

Tetra Pak billionaire Hans Rausing dies age 93, Billionaire Uniqlo founder wants to be succeeded by a woman and Marvel superheroes rescue Lego sales.

Tetra Pak billionaire Hans Rausing dies age 93

Hans Rausing, the billionaire Swedish industrialist who helped turn his family’s food packaging company Tetra Pak into a global giant, has died aged 93.

In a statement, his family said Rausing (pictured) died peacefully in his sleep at Wadhurst Park, his estate in East Sussex, with his wife, Marit, at his side.

He is survived by Marit, three children—Lisbet, Sigrid and Hans Kristian—and seven grandchildren.

August 29, 2019

Sackler family offers up to $12 billion to settle opioid lawsuits, Lego family fund poaches Google director to join board and Asia’s richest families join the call to end Hong Kong unrest.

Sackler family offers up to $12 billion to settle opioid lawsuits

Purdue Pharma, the makers of OxyContin, the prescription painkiller at the heart of the US’ opioid crisis, have offered between $10 billion and $12 billion to settle more than 2,000 lawsuits from US states and cities.

The company, owned by the billionaire Sackler family, has been blamed for fuelling the US’ opioids crisis by aggressively and deceptively marketing its painkillers to doctors and downplaying the risks of addiction.

August 22, 2019

 

Hong Kong’s richest family buys Britain’s biggest pub chain, Billionaire Koch brothers sells Canadian assets to Riddle family subsidiary and Danish retail billionaire Lars Larsen dies age 71.

Hong Kong’s richest family buys Britain’s biggest pub chain

Hong Kong’s richest man Li Ka Shing’s property investment arm has bought 220-year-old UK pub and brewery company Greene King in a deal worth $5.59 billion.

CK Asset Holdings (CKA), founded by Li and chaired by Li’s eldest son, Victor Li Tzar Kuoi, will pay $3.28 billion for the brewery company, founded in 1799 and take on its debt, worth an additional $2.31 billion.

August 14, 2019

The world’s wealthiest families control $1.4 trillion, Hong Kong tycoon Peter Woo urges protesters to stop violence and Anil Agarwal’s family trust pulls out of bid for Jet Airways.

The world’s wealthiest families control $1.4 trillion

Bloomberg’sannual ranking of the world’s richest families has revealed the fortunes of those at the top are growing by millions of dollars every hour.

Ranked the world’s richest family, the third-generation Walton family, behind US supermarket giant Walmart, is accumulating $4 million every hour. Since June, the family’s fortune has grown from $39 billion to nearly $191 billion—a nearly 400% increase.

August 7, 2019

Bollore family to sell 10% of Universal Music to Tencent, Thai billionaire family to take Central Retail Corporation public and James Murdoch’s group acquires a majority stake in Tribeca Film Festival.

Bollore family to sell 10% of Universal Music to Tencent

French media conglomerate Vivendi, owned by the Bollore family, is set to sell a 10% stake in its Universal Media Group (UMG) to Chinese internet giant Tencent.

Universal is the world’s largest media group, with artists such as Taylor Swift (pictured), Drake and Lady Gaga. UMG’s content has been available on Tencent’s music streaming service in China following a deal struck in 2017.

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