Succession

In this week’s FB Roundup, Giorgio Armani hints at new leadership once he steps down from his fashion empire; Gina Rinehart purchases a six percent stake in Lynas Rare Earths; and Daniel Kretinsky’s bid to buy Royal Mail is rejected.

In this week’s FB Roundup, Hermès heir Nicolas Puech is reportedly adopting his 51-year-old gardener in a succession shakeup; MacKenzie Scott donates $2.1 billion in 2023; and Mining magnate Andrew Forrest calls to scrap fossil fuels.

As the heirs of Joseph Safra are caught up in a bitter inheritance row, preparation, education and communication continue to be the key watchwords for ultra-high-net-worth families going through their own succession process.

The second-gen managing director of a Vietnam-based family business, Crystal Lam talks about learning from the previous generation, having the confidence in her own ability to “change the playbook”, and developing an interesting plan for prepping the Next Gen...