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Philanthropy

Will Oprah Winfrey redefine the family office model?

May 20, 2010

It is not only the world’s leading business and financial families that require the use of a family office; one of America’s most successful entertainment stars has this week announced that she is creating her own single family office, writes Katie Baker.

It is not only the world's leading business and financial families that require the use of a family office; one of America's most successful entertainment stars has this week announced that she is creating her own single family office, writes Katie Baker.

Samsung chairman tops rich list

May 17, 2010

Lee Kun Hee, the second-generation chairman of Samsung Electronics, became South Korea’s richest man in terms of stock ownership after the listing of Samsung Life Insurance Co last week.

Lee Kun Hee, the second-generation chairman of Samsung Electronics, became South Korea's richest man in terms of stock ownership after the listing of Samsung Life Insurance Co last week.

Based on the closing price after the IPO, stocks owned by Lee were valued at $10.71 billion making him the country's richest man, according the Chaebul.com, a specialist website that collates information on the country's family-owned conglomerates.

Next generation: A flag bearer for social responsibility

May 5, 2010

Many business owners like to claim they are socially responsible, but according to Sonia Tsao, fifth-generation family member of Singapore-based conglomerate The IMC Group, it is the next generation who should be the flag bearers for this movement.

Family business and creative capitalism

April 28, 2010

At the World Economic Forum in Davos in 2008, Bill Gates coined the term “creative capitalism”. In Asia, the family-owned business must be a critical part of the creative capitalism debate, writes Christian Stewart

At the World Economic Forum in Davos in 2008 Bill Gates coined the term "creative capitalism", writes Christian Stewart.

How to make your family company more ethical

March 31, 2010

As we reported last week, family businesses were very well represented in a list of the world’s most ethical companies. But what defines an ethical company and how can family businesses – traditionally seen as being inherently socially responsible – improve what they do in this field, asks Marc Smith

As we reported last week, family businesses were very well represented in a list of the world's most ethical companies (click here to read our coverage of the story).

Philanthropy through the generations

March 4, 2010

The economic downturn forced families to make cutbacks and regain control of their wealth. However, when it came to philanthropy, most stayed committed to giving to causes they feel strongly about

The economic downturn forced families to make cutbacks and regain control of their wealth. However, when it came to philanthropy, most stayed committed to giving to causes they feel strongly about.

Who to turn to for advice?

Receiving advice on giving is an important issue for families. The wealthier an individual, the more likely they are to use advisors. However, those who have been involved in philanthropy the longest are least likely to engage outside advisors.

Kraft takeover of Cadbury “a horror story” says family member

January 19, 2010

Felicity Loudon, fifth-generation of the founding Cadbury family, said the news that Cadbury has agreed the terms of a takeover by Kraft was awful. “It’s a horror story,” she told the BBC this morning.

Felicity Loudon, fifth-generation of the founding Cadbury family, said the news that Cadbury has agreed the terms of a takeover by Kraft was awful. "It's a horror story," she told the BBC this morning.

Next generation: Primula’s next gens get green light

December 4, 2009

Risto Varynen is the fourth generation of a Finnish bakery business, Primula, founded by his great-grandfather in 1908. Baking is a particularly competitive business in Finland so Risto, 33, and his cousin Juha Valkamo, 44, wanted to offer something different to their customers. They decided to sell off their most profitable branch of the business and restart the company as a carbon neutral operation.

A force for social change

October 26, 2009

Carol Newell has made it her life’s work to make systematic change in society through philanthropy, while encouraging others to follow her lead

Already versed in traditional, large-scale family investments and portfolio management by the time she was nineteen, Carol Newell took a hard look at the possibilities of wealth when she came into her inheritance; instalments over several years which accumulated to more than $30 million in the early 1990s.

Time to take a back-to-basics approach to philanthropy

October 26, 2009

With donations dwindling and charities suffering in economic uncertainty, there is a need now more than ever for intelligent philanthropists to lead us away from financial hardship

Globally, donations from the public, whether major donors, people running marathons or trekking in Peru, are falling. Giving USA reports a 5.7% drop in public donations to US charities in 2008, the largest drop since the group began recording donations in 1950. Two thirds of American charities have reported a decrease in their income.