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Obituary

September 22, 2017

L’Oreal heiress Liliane Bettencourt dies at 94, Maersk ships off its tanker business for $1.17 billion, and Chinese next-gens reluctant to take the reins.

L’Oreal heiress Liliane Bettencourt dies at 94

Liliane Bettencourt, the heiress to the L’Oreal cosmetics fortune and the world’s richest woman, has died at home in Paris, aged 94.

Bettencourt, whose net worth was estimated at $39.5 billion, was the daughter of Eugène Schueller, who made a fortune as the inventor of modern hair dye and founder of L’Oreal.

Bettencourt was said to have adored her father, whose company she inherited on his death in 1957, her mother having died when she was five.

July 19, 2017

Carla Fendi, award-winning honorary president, public face, entrepreneur, arts collector and patron, and philanthropist of the billion-euro Italian family luxury fashion house Fendi, has died in Rome at the age of 79 after a long illness.

Carla Fendi, award-winning honorary president, public face, entrepreneur, arts collector and patron, and philanthropist of the billion-euro Italian family luxury fashion house Fendi, has died in Rome at the age of 79 after a long illness.

Carla and her equally formidable Fendi sisters Paola, Anna, Franca and Alda transformed the humble family business into a desirable global brand, renowned for its monogrammed handbags and leather goods beloved by Hollywood and European royalty.

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.

October 17, 2016

Milky Ways, Snickers, M&Ms, Whiskas, and Pedigree are known around the world but the man credited with that global expansion was a mystery, and that was just the way he liked it.

Milky Ways, Snickers, M&Ms, Whiskas, and Pedigree are known around the world but the man credited with that global expansion was a mystery, and that was just the way he liked it.

“Privacy at times today seems a relic of the non-media past,” Forrest E Mars Jr told Duke University business majors. It “allows us to do the very best we can… without being concerned with self-aggrandisement.”

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.

June 17, 2016

Edgar de Picciotto was a pioneer to hedge fund investors, “the smartest man in Europe” to his disciples, and the patriarch of a dynasty that upholds his legacy of astute, innovative, and independent wealth management.

Edgar de Picciotto was a pioneer to hedge fund investors, “the smartest man in Europe” to his disciples, and the patriarch of a dynasty that upholds his legacy of astute, innovative, and independent wealth management.

De Picciotto founded Geneva-based Union Bancaire Privée (UBP) in 1969 and turned it into one of the world’s biggest family-owned banks.

November 24, 2015

Former billionaire Dorothéa Steinbruch, whose family control steelmaker Companhia Siderurgica Nacional and lender Banco Fibra SA, died at the weekend aged 85.

Former billionaire Dorothéa Steinbruch, whose family control steelmaker Companhia Siderurgica Nacional and lender Banco Fibra SA, died at the weekend aged 85.

Steinbruch was the widow of Mendel Steinbruch, one of the founders of Brazilian textile business Vicunha Group, whose current chief executive officer is their son Ricardo. Their second son Benjamin is CEO of Companhia Siderurgica Nacional.

November 2, 2015

The founder of the world’s largest two wheeler business has died at the age of 92, leaving behind a multi billion dollar family empire.

The founder of the world’s largest two-wheeler business has died at the age of 92, leaving behind a multi billion dollar family empire.

Brijmohan Lall Munjal was among four brothers who founded the predecessor company to Hero MotoCorp in 1954, and remained chairman emeritus until his death on Sunday.

His son Pawan Munjal, who has been managing director and CEO since 2001, only succeeded his father as chairman in June.

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