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John Elkann, heir to the Agnelli industrial dynasty, says his family’s $113 million deal with the De Benedetti family’s media empire will future proof the publisher of Italy’s La Repubblica and La Stampa newspapers.
NEWS & ANALYSIS
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The story of the family behind Cartier and the three brothers who turned their grandfather’s humble Parisian jewellery store into a global luxury icon is vividly told by descendant Francesca Cartier Brickell in her new book. In this abridged extract from The Cartiers: The Untold Story of the Family Behind the Jewellery Empire, Francesca recalls her discovery of hundreds of private letters which transformed her understanding of her family and her family’s legendary business.
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Remy Cointreau sales are hit by Hong Kong protests; Elisabetta Fabri, second generation president of Starhotels, is knighted, and families are intrigued by a new bank vault for billionaires.
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The year 2020 will mark the 10th anniversary of the landmark UK Supreme Court case of Radmacher v Granatino. This means that 10 years have passed during which wealthy individuals have had the opportunity to contract out of the notoriously generous divorce jurisdiction of the English and Welsh courts. Whilst nuptial agreements existed prior to Radmacher, there was no certainty they would be upheld if they were challenged in court.
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Li Ka-shing rebuffs criticism and gives HK$1 billion to Hong Kong businesses, Gebruder Weiss and Henkel get trucking on gas, Impact Investing Institute launches to nurture $502 billion impact market.
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Features
The most challenging investment tax issues can often be found in an investor’s fixed income allocation, say the experts in family office, global tax and investments at Wellington Management. They explore some of the strategies available to investors.
Families looking to invest in impact vehicles should ensure the impact element of the fund is genuine and it has the right tools to measure impact, says Max Gottschalk, the founder and chief executive of multifamily investment office Vedra Partners.
Family Office
The Lego Group is building its connections with adult consumers by buying an online fan platform from the family office of a South Korean tech entrepreneur.
More than half of family offices have a succession plan in place, up a remarkable 11 percentage points in a year, and most (28%) of next gens will take control of the family wealth in the next 11 plus years, at the average age of 45, says The Global Family Office Report 2019. However, the biggest challenge facing the majority (37%) of families is their discomfort in discussing the sensitive topic of succession planning.
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