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Bloomberg

FB Roundup: Francoise Bettencourt Meyers, Klaus-Michael Kuehne, Masatoshi Ito

March 13, 2023

In this week’s FB Roundup, L’Oreal heir Francoise Bettencourt Meyers names new investment firm MD; Klaus-Michael Kuehne is to receive $4.5 billion dividends from his transport empire; and tributes are paid to 7-Eleven billionaire Masatoshi Ito.

L’Oreal heir Francoise Bettencourt Meyers names new investment firm MD
The world’s richest woman, Francoise Bettencourt Meyers, has named Cyrielle Villepelet as managing director of her investment company, Tethys Invest, according to Bloomberg.

FB Roundup: Andy Mills, Mei Zhiqiang, Joseph Lau

February 13, 2023

In this week’s FB Roundup, the Mills family open an investment firm after their Medline Industries sale; a Chinese man leaves billionaire adoptive family after reuniting with his multi-millionaire birth parents; and Joseph Lau sells dozens of Hermes bags in a Sotheby’s auction.

Mills family open investment firm after Medline Industries sale
The Mills family, the American billionaires who founded Medline Industries, are launching their own investment firm.

FB Roundup: Sir James Dyson, Mike Ashley, Ivan Ko

December 7, 2022

In this week’s FB Roundup, James Dyson expands his Weybourne family office; Mike Ashley’s Frasers Group serves Coventry City football club stadium an eviction notice; and Ivan Ko plans to revitalise an East London ‘ghost town’ development.

James Dyson expands his Weybourne family office
Billionaire British inventor Sir James Dyson has transferred almost £5 billion from his self-named company to fund his family office, Weybourne.

Sir James has moved funds from his global technology company to shape one of the “World’s biggest investment firms for the super-rich.”

FB Roundup: Mukesh Ambani, Joe Tsai, Patrick Drahi

June 14, 2022

In this week’s FB Roundup, Mukesh Ambani makes a £5 billion bid to buy Boots; Billionaire Joe Tsai invests millions in Just Women's Sports; and Patrick Drahi’s proposed takeover of BT is expected to be blocked by the UK government.

Mukesh Ambani makes £5 billion bid to buy Boots
Indian billionaire Mukesh Ambani has teamed up with American private equity company Apollo Global Management to make a £5 billion tender for the UK pharmacy retail giant Boots.

Ambani, who is the richest person in Asia and the seventh richest in the world (according to Forbes), has been working on a potential buyout for the high street chain since April through his Reliance Industries firm and is now placed for a formal takeover.

FB Roundup: Lego, Haidilao and Lupa Systems

March 9, 2020

Founder’s great-grandson takes chair as Lego builds in China, billionaire “hotpot queen” chooses Singapore for her new family office and next-gen James Murdoch joins the fight against fake news.

Founder’s great-grandson takes chair as Lego builds in China

Thomas Kirk Kristiansen (pictured), a fourth generation member of Lego’s founding family, has taken over the role of chairman as the Danish toy giant announces record sales.

FB Roundup: VW, Berkshire, and Thomson Reuters

January 31, 2018

VW caught in monkey test scandal; Berkshire, Amazon, JP Morgan plan healthcare non-profit; and Thomson Reuters family sell F&R business

VW caught in monkey test scandal

The reputation of family-owned Volkswagen has taken another hammering, after it became the scapegoat for emissions tests which forced monkeys to breathe diesel fumes.

Fiat Chrysler returns Ferrari to family control

March 6, 2015

Italian carmaker Ferrari may return to family control during an initial public offering this year providing current owner Fiat introduces a “loyalty share” plan that will boost voting rights of established investors.

Italian carmaker Ferrari may return to family control during an initial public offering this year if current owner Fiat introduces a “loyalty share” plan that will boost voting rights of established investors.

Loyalty shares have recently caused a divide between family businesses and institutional investors in Italy. Introduced by the Matteo Renzi-led government last year, they allow shareholders double voting rights if they hold stock longer than two years.

Bloomberg ranks global family office businesses

August 9, 2011

HSBC manages more assets of family offices than any other bank in the world, according to a survey by Bloomberg Markets magazine. The survey, which ranks the top 50 banks which manage family office money and commercial multi family offices, found HSBC’s private wealth solutions group to be the biggest, with assets under management of $102 billion.

HSBC manages more assets of family offices than any other bank in the world, according to a survey by Bloomberg Markets magazine.

The survey, which ranks the top 50 banks which manage family office money and commercial multi family offices, found HSBC’s private wealth solutions group to be the biggest, with assets under management of $102 billion. New York-based Bessemer Trust was ranked second, with more than $44 billion under management.

Hermes talks tough to LVMH

February 17, 2011

Family-controlled luxury goods company Hermes has said that it wants fellow family business LVMH to reduce its stake in Hermes to less than 10%, according to a report in Bloomberg.

LVMH currently holds a 20% stake in Hermes, which, according to executive chairman Bertrand Puech, is "not normal". He wants LVMH chief executive Bernard Arnault to reduce his stake by more than half to make available the other shares to the open market.

Bloomberg to rank the rich

January 13, 2011

Media and data company Bloomberg is to launch a rich list that will pitch it against the well-established Forbes billionaire list.

In a statement, the New York-based company said it would hire Matthew Miller, former editor of Forbes' billionaire list, in February. Bloomberg plans to launch the rich list sometime in the next two years, but gave no exact date for the launch.