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March 17, 2022

In this week’s FB Roundup, property developer Nick Candy enlists a football legend for his Chelsea takeover bid; Sheikh Abdul Aziz Al Khalifa buys a stake in an ethical fintech startup; and Dr. Kiran Patel expands his investment into electric vehicles.

Nick Candy enlists football icon Gianluca Vialli in Chelsea takeover bid

British luxury property developer Nick Candy has further bolstered his bid to buy embattled Premier League football club Chelsea by hiring the team’s former player-manager Gianluca Vialli as an advisor.

Candy, who, along with his brother Christian, has overseen such notable projects as London’s One Hyde Park and NoHo Square and Beverly Hills’s 9900 Wilshire, brought Vialli’s Tifosy Capital & Advisory on board ahead of the deadline for bids.

February 16, 2022

In this week’s FB Roundup, billionaire investor Stanley Druckenmiller sells off his stock in Facebook owner Meta, Goldman Sachs creates a family office for senior employees and an Australian multi-family office sees a huge return on investment in Fortnite gaming company.

Stanley Druckenmiller dumps stake in Facebook parent Meta

The family office of billionaire investor Stanley Druckenmiller ditched a $35.9 million stake in Facebook parent Meta and revealed new investments worth $67 million in social media company Snap Inc. and nearly $100 million in oil corporation Chevron.

The share sale by the New York-based Duquesne Family Office suggests Meta’s shift in focus to the metaverse may not have represented a compelling case for Druckenmiller.

February 10, 2022

American family offices oppose a disclosure plan by the US Treasury Department, Nintendo founders’ family office bolster their mission to invest in Japanese business with a new acquisition, and Walmart heir’s global impact platform further pledges to clean up the seas.

American family offices oppose disclosure plan by US Treasury Department

Ultra-wealthy families are claiming they will be “Uniquely susceptible” to theft, fraud and kidnapping if a proposal by the US Treasury Department requiring American companies to disclose identities of their beneficial shareholders goes ahead.

October 24, 2018

Wanda Ferragamo dies aged 96, Dyson to manufacture new electric vehicle in Singapore, Shahid Khan withdraws offer to buy Wembley Stadium.

Wanda Ferragamo, matriarch of fashion empire Salvatore Ferragamo, dies aged 96

Wanda Ferragamo, who is credited with expanding her husband’s shoe business into the global fashion brand Salvatore Ferragamo, has died at her home in Fiesole, Italy aged 96.

The Ferragamo family issued a statement confirming her death, but did not disclose a cause. She is survived by her four children—Giovanna, Ferruccio, Massimo and Leonardo.

The business has annual revenue of about $1.6 billion, according to Bloomberg News.

October 18, 2018

Uniqlo boss promotes sons to board, Amway hires first chief executive from outside the family, European family businesses embrace innovation to channel growth.

Uniqlo boss promotes sons to board

The billionaire founder of Japanese clothing brand Uniqlo has announced his two sons will be promoted to the board of parent company Fast Retailing.

October 7, 2016

Mars buys out Buffett to take 100% control of Wrigley; LVMH next-gen Alexandre Arnault helps steer RIMOWA acquisition; and Toyota’s personal robot 'Kirobo Mini' signals AI push

Mars buys out Buffett to take 100% control of Wrigley

Mars is to take full control of its Wrigley chewing gum business after Berkshire Hathaway sold its minority stake back to the world’s largest confectionary maker.

According to Reuters, Berkshire invested in Wrigley in 2008 when it acquired $2.1 billion of preferred stock and $4.4 billion of bonds in connection with privately held Mars' $23 billion purchase of the chewing gum maker. 

April 8, 2016

Adult colouring book craze prompts growth at Faber-Castell; Tata patriarch defends sale of UK steelworks; and Mixed first quarter for high street giant H&M

Adult colouring book craze prompts growth at Faber-Castell

A surge in the number of people buying adult colouring books has caused double-digit growth at German writing instruments manufacturer Faber-Castell.

The eighth-generation family firm has been forced to run extra shifts in its factory to keep up with demand, Sandra Suppa from Faber-Castell told The Independent.

Adult colouring books have become a surprise success in bookshops and have sold some 16 million copies worldwide.

March 4, 2016

Winterkorn aware of Volkswagen emission cheating software back in 2014; Heineken announces $2bn spending spree in Mexico; and Brown-Forman shifts focus to US

Winterkorn aware of Volkswagen emission cheating software back in 2014

Volkswagen shares suffered a slight dip, before recovering lost ground, after the carmaker admitted that former CEO Martin Winterkorn was aware of emission cheating software as early as May 2014.

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