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Carlos Slim

FB Roundup: SP Hinduja, Grifols family, Carlos Slim

May 22, 2023

In this week’s FB Roundup, tributes are paid to SP Hinduja, the head of Britain's richest family; Spain's Grifols ends family leadership as new CEO is named; and Carlos Slim buys a stake in a Mexican oilfield.

Tributes paid to SP Hinduja, the head of Britain's richest family
SP [Srichand Parmanand] Hinduja, the billionaire leader of the Hinduja Group conglomerate and head of Britain's richest family has died at the age of 87.

Described as a “visionary titan of industry and business”, the hugely successful businessman “passed away peacefully”, according to a family spokesperson.

FB Roundup: Chang, Slim and Resnick

October 1, 2019

Family-owned Forever 21 files for bankruptcy, billionaire Carlos Slim’s company confident over Mexican TV licence and Fiji Water billionaires gift $750 million for climate change research.

Family-owned Forever 21 files for bankruptcy

Forever 21, a family-owned teen fashion retailer, has filed for bankruptcy protection, toppled by intense competition and its own rapid expansion.

In a statement, the retailer said as part of its restructuring, it would look to close most of its international stores in Asia and Europe and 178 stores in the US, with up to 350 stores closing overall. It will continue operations in Mexico and Latin America.

Down Mexico way: Economics, politics and family business

February 18, 2019

The Mexican economy may long have had difficulties in achieving brisk growth, but that has not stopped the nation’s largest family businesses from forging ahead and, in some cases, becoming world leaders. Daniel Bardsley takes a look at this land of extremes and where families fit in

The family business dominates the Mexican economic landscape—an often-used motto in the country is “You trust your blood”—but few nations have such a gaping divide between the large and the small.

At one extreme, Mexico has millions of under-the-radar micro-businesses keen to avoid the attentions of the tax collectors, while at the other it plays host to corporate family-controlled giants that are at the global cutting edge.

FB Roundup: Saputo, Carso, Bimbo, and Tata Sons

February 9, 2017

Third-generation Saputo to succeed founding father; Slim and Servitje subsidiaries to launch ‘made-in-Mexico’ e-cars; Tata removes Mistry, set to install Chandrasekaran

Third-generation Saputo to succeed founding father
Lino Saputo Jr is to succeed his father, Emanuele (Lino), as chairman of his family’s eponymously named dairy company - one of the top ten dairy processors in the world.

Currently chief executive and vice chairman, third-generation Saputo Jr will replace the founding chairman from 1 August and also retain his responsibilities as chief executive.

FB Roundup: Maersk, Les Mills, and América Móvil

September 22, 2016

Transport giant Maersk to split its shipping, energy operations; Les Mills International moves headquarters to Chicago; and América Móvil eyes acquisition of Brazilian rival Oi

Transport giant Maersk to split its shipping, energy operations

Danish shipping company Maersk Line, owned by the McKinney-Moeller family, is splitting its container shipping and energy operations into two independent entities as part of a historic shake-up.

Rocked by low shipping and oil prices, the Copenhagen-based group said the transport and logistics division will handle its shipping and container business, while the energy spin off will handle oil production and drilling.

A growing slice of the pie: Private equity and the family office

September 12, 2016

Private equity has a special pull for families used to running operating businesses. But with record levels of assets committed to private equity funds is it the best asset class to drive returns?

Private equity has a special pull for families used to running operating businesses. But with record levels of assets committed to private equity funds is it the best asset class to drive returns?

The plotline is one that has been played out countless times before. A family has made its wealth in an operating business, has exited and is now running a family office. Do they sit back and take a diversified approach to their wealth or eventually get itchy feet and pour their assets back into the sector they know best?

Family Business Roundup: Busch, Realia, and WalMart

October 16, 2015

Family-owned Busch raises stake in Pfeiffer Vacuum; Slim names close associate as CEO of Realia; and WalMart stock tumbles following drop in annual profit

Family-owned Busch raises stake in Pfeiffer Vacuum

German vacuum pump maker Busch, owned by the eponymous family, has increased its stake in rival Pfeiffer Vacuum to 27.2% from 15%, according to a company statement.

Busch had bought the 15% stake in Pfeiffer in a surprise move last month as it seeks to expand its reach within the market.

Carlos Slim becomes largest individual shareholder in Sulzberger-controlled New York Times

January 15, 2015

Mexican billionaire Carlos Slim has become the largest shareholder in fourth-generation family business The New York Times Company, increasing his stake to nearly 17%, but the Sulzberger family will retain control of the media giant through its dual-class share structure.

It follows a bumpy year for the 164-year-old company, in which it continued to find its feet in the digital era, and also saw a mishandled staff changes at the senior editorial level.

Koplowitz family halves stake in 80-year-old family business

November 28, 2014

Spain’s Koplowitz family has halved its stake in multibillion euro infrastructure company Fomento de Construcciones y Contratas, in a deal with the family of Mexican entrepreneur Carlos Slim.

Spain’s Koplowitz family has halved its stake in multibillion euro infrastructure company Fomento de Construcciones y Contratas, in a deal with the family of Mexican entrepreneur Carlos Slim.

The deal is part of a $1.3 billion capital raise, which aims to reduce the company’s debt. It is the first time in the company’s eight-decade history that the Koplowitz family won’t have a controlling majority stake in the firm.

Carlos Slim transfers shares to children

November 20, 2013

Mexican billionaire Carlos Slim has quietly been transferring large parts of his family business empire to his six children over the past couple of months, according to media reports.

In the most recent transaction, last month, he reportedly gave two of his daughters the majority of his shares in financial holding company Grupo Financiero Inbursa.