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FB Roundup: Bestseller, Bertelsmann, Bayshore Global Management

February 6, 2021

Danish Povlsen family’s Bestseller in UK Asos Top Shop deal, German family-controlled Bertelsmann mulls sale of French media group M6, Google co-founder Sergey Brin joins billionaire rush for Singapore family offices.

Danish Povlsen family Bestseller in UK Asos Top Shop deal

Anders Holch Povlsen, the second-generation Danish online retail billionaire, is behind the £295 million ($403 million) acquisition for UK high street names Topshop, Topman and Miss Selfridge.

FB Roundup: Ferragamo, News Corp, H&M

January 29, 2021

Family distanced in revamped Ferragamo board amid slumping revenues, Rupert Murdoch ‘far from done’ at News Corp and warns of woke censorship, Crisis strategy helps H&M recover from lockdowns.

Family distanced in revamped Ferragamo board amid slumping revenues

The Ferragamo family is expected to streamline the management board of its luxury goods brand as it attempts to rally from the coronavirus impact on its global revenues.

FB Roundup: Stellantis, Samsung, Benjamin de Rothschild

January 22, 2021

Agnelli heir John Elkann in the driving seat of Stellantis, Samsung heir Lee Jae Yong sentenced to prison, Benjamin de Rothschild dies aged 57.

Agnelli heir John Elkann in the driving seat of Stellantis

John Elkann, scion of Italy’s Agnelli dynasty, says the new $51 billion Fiat-Chrysler-PSA mega-merger he masterminded will meet the world’s needs in sustainable mobility.

Jonthan Ruffer’s investment review of growth and gains

January 21, 2021

Somewhere in a cupboard, I have a set of eight contract notes dated 8 January 1975, when I invested—upwards of £100 per holding!—in a range of UK equities. Reader, I called the bottom of the market—a dangerous thing for a young man to do.

FB Roundup: Hyundai, Bacardi, Associated British Foods

January 15, 2021

Chung family driving Hyundai make $2 billion on Apple tie-up reports, Bacardi raises the bar on post-Covid ‘mindful drinking’ trend, Associated British Foods stares at $1.4 billion sales loss but rules out Primark e-commerce.

Chung family driving Hyundai make $2 billion on Apple tie-up reports

The Chung family in control of Hyundai became almost $2 billion better off when South Korean media reported the automaker was in early talks of a partnership with Apple, Inc.

Share prices in Hyundai Motor Co soared by up to 25% in Seoul last week, which boosted the family fortunes of Euisun Chung (picture), 50, chairman, and his father, Mong-Koo, 82. Together they hold about 8% of stock in the group, but maintain influence through complex governance arrangements.

FB Roundup: LVMH, EssilorLuxottica, Rockefeller Foundation

January 8, 2021

Arnault heir joins power trio in charge of Tiffany and Co, Founder Leonardo Del Vecchio steps back in EssilorLuxottica power transfer, Rockefeller Foundation divests $5 billion in fossil fuels.

Arnault heir joins power trio in charge of Tiffany and Co

Alexandre Arnault is being widely regarded as the heir apparent of his father’s French luxury goods empire LVMH with his appointment to the new executive leadership of Tiffany and Co.

Arnault (pictured), 28, is the second eldest son of Bernard Arnault (pictured below), 71, the billionaire chairman and chief executive of LVMH. The next-gen led luggage manufacturer RIMOWA since January 2017, after initiating and leading its acquisition by LVMH.

Darshan and Manan Patel of Vini Cosmetics on recovery, risk and family relationships

December 14, 2020

The father and son team behind Vini Cosmetics, the maker of Fogg deodorants, say they are bullish on the Indian economy, its pandemic recovery and are exploring new investment opportunities.

The father and son team behind Vini Cosmetics, the maker of Fogg deodorants, say they are bullish on the Indian economy, its pandemic recovery and are exploring new investment opportunities.

Entrepreneurs Darshan Patel, 58, founding chairman and managing director of the family business, works in tandem with next-generation Manan Patel, 27, chief executive of their family office Vini Investments in Ahmedabad, Gujarat.

FB Roundup: Bertelsmann, Bombardier, Walmart

December 12, 2020

Bertelsmann books Simon & Schuster for $2.175 billion, Bombardier private jet sales soar in the coronavirus age, Walmart offers to give Covid-19 vaccinations.

Bertelsmann books Simon & Schuster for $2.175 billion

German media family business Bertelsmann has acquired publishing house Simon & Schuster for $2.175 billion from the US Redstone-family-owned media company ViacomCBS.

Bertelsmann, the international media, services and education company, said it was further expanding its global content businesses in the US, its second-largest market, with the deal for the publisher of Hillary Clinton, John Irving, Stephen King and Bob Woodward.

FB Roundup: Ray Dalio, Gregg Lemkau, LG Corporation

November 27, 2020

Billionaire Ray Dalio to set up family office in Singapore, Gregg Lemkau quits Goldman Sachs to advise Michael Dell's investments, next-generation chairman Koo Kwang-mo shakes up LG Corporation.

Billionaire Ray Dalio to set up family office in Singapore

Ray Dalio, founder of the world’s largest hedge fund, is the latest billionaire to open a family office in Singapore.

Dalio, 71, the US investor who founded Bridgewater Associates in his New York apartment in 1975, felt it was “high time” to build on his links to Singapore and Asia-Pacific, his spokesman said.

FB Roundup: Grundfos, Samsung, Warburtons

November 2, 2020

Due Jensen family heir named new chief executive of Grundfos, Lee Kun-hee leaves legacy of Samsung success but succession chaos, Warburtons shares pandemic dough with staff.

Due Jensen family heir named new chief executive of Grundfos

The Due Jensen family of Denmark has returned to helm their industrial giant Grundfos for the first time in almost two decades with the succession of next-generation heir Poul Due Jensen.