Recently Argentina appointed a new president, Mauricio Macri, who is a member of family-run conglomerate Grupo Macri. It has raised hope that the 57-year-old’s innate understanding of the issues faced by families will result in better conditions for businesses across the board. Among the top three concerns of family businesses in Argentina are (a) the [...]
Bruce Wasserstein, bought the New York magazine for $55 million in 2004, but died unexpectedly five years later, at age 61. Later the magazine was owned by a Wasserstein family trust and there were speculations that the family might sell the company. Recently, Pamela Wasserstein, the 38-year-old daughter of the late Bruce Wasserstein, has been [...]
Mitsui OSK was founded as a key part of the Mitsui zaibatsu (family-owned conglomerate) during the early industrialization of Japan. The company is now independent of the zaibatsu, but remains part of the Mitsui keiretsu (group of aligned companies). Chen Shuntong was a shipping magnate in China, who landed as a refugee in Hong Kong [...]
Bombardier Inc. is a Canadian multinational aerospace and transportation company, founded by Joseph-Armand Bombardier in 1942. Currently the Bombardier and Beaudoin family are the company's largest shareholders. Last year collectively the families spent some $50 million to increase their stake in the embattled transportation company even though the stock price collapse cost its controlling family [...]
Sika AG was founded in 1910 by Kaspar Winkler. It is a specialty chemical company headquartered in Baar, Switzerland. Today the company has more than 17,000 employees, subsidiaries in 93 countries, and an annual sales turnover of CHF 5.49 billion (2015). Saint-Gobain, the French industrials group is seeking to acquire a controlling share stake in [...]
According to a recent study by PwC, titled ‘Great Expectations: The next generation of family business leaders’, in the next five years, 40% of family businesses globally will prepare to hand over the business to the next generation, but the new leaders may find it hard to make their voice heard. The total turnover of [...]
Cargill, the largest private company in US, is 151 years old and is owned by the Cargill and MacMillan families. The two families own about 90% of the shares, and about 80% of profits are reinvested in the company, as in order to remain family controlled requires funding growth through either debt or profits. The [...]
A survey was recently conducted by Morgan Stanley and Campden Wealth, among ultra-high net worth (UHNW) individuals in North America with a family net worth in excess of $35 million, to understand the attitudes and behaviors concerning investment decision-making. The majority of families in this study (51%) had total net worth, excluding operating businesses, between [...]
As per a new report released by Ahmadoff & Co., titled “A new look at old wealth” family businesses will become the focus in emerging markets. The shift in legacy industrial production to cheaper resource rich markets has created a new breed of billionaires. However Asian families have often failed to keep the wealth in [...]
The recently released report titled ‘KPMG Global Family Business Tax Monitor’ compares the impact of tax regimes on family businesses. It is based on the findings of 42 countries, including India that undertook a taxation review on two scenarios for a family business valued at €10 m. The report explored the effects taxation can have [...]