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Wealth

October 17, 2013

This summer big brand artists continued to set records at the major auction houses. But like all passion investments, art occupies a grey area between investment and lifestyle asset, so what role can it play in a family office’s portfolio? 

This summer big brand artists continued to set records at the major auction houses. But like all passion investments, art occupies a grey area between investment and lifestyle asset, so what role can it play in a family office’s portfolio? 

October 11, 2013

The family office of Hyatt heiress Karen Pritzker, and her husband Michael Vlock – in conjunction with real estate firm Colony Capital – has invested $50 million (€36.8 million) in an initiative to transform Southern Californian residential housing.

The family office of Hyatt heiress Karen Pritzker, and her husband Michael Vlock – in conjunction with real estate firm Colony Capital – has invested $50 million (€36.8 million) in an initiative to transform Southern Californian residential housing.

In partnership with American Coastal Properties the scheme will take dated homes in up-and-coming neighbourhoods in San Diego, Orange County and Los Angeles and spend 50 to 100% of the purchase price on renovations.

October 8, 2013

Africa is home to more than triple the number of billionaires than previously thought, according to a new rich list produced by a local business publication, putting it on par with Latin America in terms of its billionaire population.

Africa is home to more than triple the number of billionaires than previously thought, according to a new rich list produced by a local business publication, putting it on par with Latin America in terms of its billionaire population.

October 2, 2013

Asia Pacific is set to topple North America from its throne as home to the most wealthy individuals next year, according to new research, with the region’s high net worth individual population growing at twice the rate of the rest of the world between 2007 and 2012.

Asia Pacific is set to topple North America from its throne as home to the most wealthy individuals next year, according to new research, with the region’s high net worth individual population growing at twice the rate of the rest of the world between 2007 and 2012.

When it comes to ultra-high net worth individuals, the Asia Pacific Wealth Report 2013, published by CapGemini and RBC Wealth Management, revealed the Asia-Pacific's population had increased 15% over the same period – compared to the global average of 10%.

September 26, 2013

The Koffler Group, a US-based family office, has traditionally travelled light when it comes to debt, but Campden talks to the third-gen who has been fearless in making sure it now has a mixed bag of investments.

The family fortune may have been made by an inherently conservative investor with a flair for designing suitcases, but when it comes to investment strategy subsequent generations of the Koffler family have been determined not to carry any baggage.

Sol Koffler is a poster child for the American dream. Arriving in the US from eastern Europe in 1920 at the age of 13, he started selling $1 suitcases as the Great Depression reached its peak. Over the next 46 years he built American Tourister into the second largest luggage company in the country.

August 21, 2013

A group of disgruntled Walmart employees have taken aim at the expensive hobby of its second-gen chairman, in a protest to point out the pay discrepancy between the family business’s minimum wage workers and its top-level executives.

A group of disgruntled Walmart employees have taken aim at the expensive hobby of its second-gen chairman, in a protest to point out the pay discrepancy between the family business’s minimum wage workers and its top-level executives.

S. Robson Walton, 68, was targeted while taking part in a racing event in California with his collection of luxury cars, including a Maserati and a Ferrari, valued at an estimated $16 million.

Two separate protests were staged – one in front of the Mazda Raceway Laguna Seca and the other at a nearby Walmart store.

August 6, 2013

HSBC’s ultra-high net worth offering is the biggest multi family office in the world, according to Bloomberg Markets, which has produced its annual ranking of the sector. 

HSBC’s ultra-high net worth offering is the biggest multi family office in the world, according to Bloomberg Markets, which has produced its annual ranking of the sector.

August 5, 2013

Australian mining magnate Gina Rinehart has offered an olive branch to her two children that are taking civil court action against her regarding the management of the family wealth and controlling shares in the family business.

Australian mining magnate Gina Rinehart has offered an olive branch to her two children that are taking civil court action against her regarding the management of the family wealth and controlling shares in the family business.

In an open letter to siblings John Hancock and Bianca Rinehart, the businesswoman – who at an estimated net worth of AUS$22 billion (€14.7 billion) is the country’s richest woman – said she was willing to appoint a co-trustee to the family trust.

July 22, 2013

One in three UK high net worth families have argued over inheritance and half of the country’s wealthy cannot decide how to split their wealth between heirs, new research reveals.

One in three UK high net worth families have argued over inheritance and half of the country’s wealthy cannot decide how to split their wealth between heirs, new research reveals.

Despite this, more than £1 trillion (€1.2 trillion) is due to pass between generations over the next 20 years.

According to the Coutts report, Breaking the wealth taboo: making succession a success, inheritance planning is becoming increasingly complicated as families become less traditional due to divorce and multiple marriages.

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