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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.

US presidential election: Amundi on how it will impact US economy and financial markets

October 20, 2020

Transatlantic relations will be completely different depending on who becomes the next president. It is less US fiscal policy—which would be expansionary in any case—then international relations that are at stake for the next four years. For both Europe and China, the results of the US presidential election will be as important as for the United States.

Letter from the US: US grocer Wegmans and the secret sauce of family firms

June 10, 2016

Employee engagement may be dismissed by some as paternalistic and weak, but it is the major weapon in a family business that public or private equity-backed firms struggle to replicate

Employee engagement may be dismissed by some as paternalistic and weak, but it is the major weapon in a family business that public or private equity-backed firms struggle to replicate

American family offices face tougher rules

June 24, 2011

The United States Securities and Exchange Commission has made its definition of “family office” more narrow, which some say could possibly force offices to lose clients or incur heavy costs to comply under the new rule.

According to a statement by SEC, private family offices will be exempt from regulations under the Dodd-Frank Wall Street Reform and Consumer Protection Act only if they advise family clients, do not project themselves as investment advisers and are completely controlled by the family.

Fiat chief in hot water

February 8, 2011

Chief executive of carmakers Fiat and Chrysler, Sergio Marchionne, is facing wrath from Italy and the US for his comments on shifting Fiat’s headquarters, and describing the interest rates charged on American bailout loans as “shyster”.

Chief executive of carmakers Fiat and Chrysler, Sergio Marchionne, is facing wrath from Italy and the US for his comments on shifting Fiat's headquarters, and describing the interest rates charged on American bailout loans as "shyster".

Why Gates' pledge finds little support in wider world

August 11, 2010

Billionaires might be lining up in the US to join the so-called Gates pledge initiative, but so far it has little support outside of America, writes Katie Barker.

Billionaires might be lining up in the US to join the so-called Gates pledge initiative, but so far it has little support outside of America, writes Katie Barker.

Forty billionaires have signed up to the pledge, whereby they agree to give away at least half of their fortunes to philanthropy during their lifetime or shortly after their death. But not one of them is based outside of the US.

Steelers family to restructure ownership

July 8, 2008

Pittsburgh Steelers chairman Dan Rooney and son, president Art Rooney II, plan to buy out the rest of the family’s shares to make sure the NFL team stays in Rooney hands.

Pittsburgh Steelers chairman Dan Rooney and son, president Art Rooney II, plan to buy out the rest of the family's shares to make sure the NFL team stays in Rooney hands.

Dan, the eldest son of late team founder Art Rooney, wants to keep the 75-year-old franchise in family control while his four brothers want to focus their efforts on their racetracks and other interests, which conflict with the NFL's strict non-gambling policies.

Building retail empires

July 1, 2004

Sam Walton: Made in America, by Sam Walton and John Huey (1996)

Christine Harland is Director of Camden Writers

Sam Walton: Made in America, by Sam Walton and John Huey (1996)

Born in 1918 in Kingfisher, Oklahoma, a whistle stop on the Oklahoma, Kansas & Texas railroad line, Sam Walton could feel small-town America in his bones. That profound sense of his environment lay at the heart of Walton's success. He understood the value of the hard-earned dollar for the majority of Americans and he appreciated the latent buying power in areas that a lot of larger corporations passed by.

Editor's note

June 1, 2003

Suzy Bibko takes the reigns at Families in Business and tells how this issue explores the one constant in life – change

As this issue of Families in Business goes to press, I'm planning a trip to my homeland, America. I'm going to back to New York City for my first time since I left five years ago. A lot has changed there since then, most notably the absence of two remarkable buildings and many, many lives.