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FB Roundup: Yvon Chouinard, Simon Arora, Chip Wilson

September 20, 2022

In this week’s FB Roundup, billionaire Yvon Chouinard gives away Patagonia to fight the climate crisis; B&M discount chain boss Simon Arora retires early; and Lululemon founder Chip Wilson donates millions to British Columbia's wilderness.

Billionaire Yvon Chouinard gives away Patagonia to fight climate crisis
Yvon Chouinard, the billionaire founder of sportwear brand Patagonia, has announced he is giving away his entire company to a charitable trust to help fight the climate crisis.

The label, which has long since traded on its sustainability credentials - including guaranteeing its clothes for life - is now in the hands of a structured trust, which has been designed to direct all company profits into halting the crisis.

FB ROUNDUP: Mohsin and Zuber Issa, Hans and Julia Rausing, Julian Robertson

August 31, 2022

In this week’s FB Roundup, the billionaire Issa brothers purchase Co-op’s petrol stations; Hans and Julia Rausing donate to save historic ‘Harry Potter’ cloister; and hedge fund billionaire and philanthropist Julian Robertson passes away at the age of 90.

Billionaire Issa brothers purchase Co-op’s petrol stations for up to £600 million
Mohsin and Zuber Issa, the billionaire brothers who own a majority stakeholder in UK supermarket giant Asda, have agreed to buy the Co-op group’s petrol stations in a deal worth up to £600 million.

The British-Indian siblings, who made their fortune co-founding the Euro Garages chain of petrol filling stations, saw off a number of rival bids to finalise the deal.

FB Roundup: Builders Vision, Chick-fil-A, Ferrero Group

October 18, 2021

Walmart heir Lukas Walton makes impact investments in food and environment sustainability, Chick-fil-A heiress joins Cathy family’s billionaire ranks, Family-owned Ferrero sweetens investments in US and UK.

Walmart heir Lukas Walton makes impact investments in food and environment sustainability

Lukas Walton, a next generation member of the Walmart dynasty, has launched a new impact investing platform inspired by the all-natural diet he says helped him recover from cancer as a child.

FB Roundup: Aster DM Healthcare, Manchester United, Wegmans Food Markets

October 11, 2021

Moopen family’s Aster DM Healthcare partners with Roche Diagnostics in Middle East, Glazer family benefits from share sales in Manchester United, Heiresses in top leadership of Wegmans Food Markets.

Moopen family’s Aster DM Healthcare partners with Roche Diagnostics in Middle East

Aster DM Healthcare, the second-generation Indian family business in Dubai, has entered a strategic partnership for the Middle East “to stay ahead of the curve” with the diagnostics wing of the Swiss fourth-generation healthcare multinational Roche.

FB Roundup: Scholastic Corporation, Hyatt Hotels Corporation, Virgin Galactic

August 20, 2021

Scholastic Corporation owner Richard Robinson Jr has cut family out of succession plan, Pritzker family’s Hyatt hotel chain doubles stake in luxury resorts, Richard Branson sells $300 million shares in Virgin Galactic.

Scholastic Corporation owner Richard Robinson Jr has cut family out of succession plan

The family behind the US publisher of Harry Potter and The Hunger Games is reportedly reviewing its legal options after its principal left the $1.2 billion business to his lover.

FB Roundup: Frasers Group, Toennies Group, News Corp

August 6, 2021

Frasers Group founder Mike Ashley anoints daughter’s fiance as successor, Toennies family cancels meat business exit, Murdoch family’s News Corp to buy Oil Price Information Service for $1.15 billion.

Frasers Group founder Mike Ashley anoints daughter’s fiance as successor

British billionaire Mike Ashley will make way for his future son-in-law as the head of his international $4.1 billion retail empire.

Crystal Call Maggelet on family stewardship, entrepreneurialism and succession

November 9, 2020

Entrepreneur Crystal Call Maggelet led her father’s petroleum empire out of crises and into a secure diversified future, ready for her next generation to eventually take over.

Entrepreneur Crystal Call Maggelet led her father’s petroleum empire out of crises and into a secure diversified future, ready for her next generation to eventually take over.

FB Roundup: Walmart, H&M, Lotte Group

October 3, 2020

Walton family’s Walmart sells Asda to British billionaire brothers, Persson family’s H&M closes 250 stores and ramps up online investment, Lotte Group prepares for the hands-free “untact” future today.

Walton family’s Walmart sells Asda to British billionaire brothers

Walmart, the world’s largest family business, has sold most of its ownership of the Asda supermarket chain in the UK after 21 years to a fledgling British family business owned by the billionaire Issa brothers for £6.8 billion ($8.7 billion).