Home > International, Money Matters, Real life Stories > Heirs to great wealth

Heirs to great wealth

One challenge facing African business is continuity. Many businesses survive for as long as the founder is on the helm. When the founder dies, the company dies with him. I was reading about Ackerman and how he was handing over his business to ensure continuity. Unfortunately, our black African brothers do not groom their offspring to take care of the family fortune. It is such a tragedy that after building big businesses, all that goes to waste because of poor management. Many of these great men do not allow their children to work in the family business and seem to be content with their children enjoying the money without learning the ropes of the business. What is the point of building something that goes to the grave with you? This is how the big guys do it!

Delphine Arnault: Delphine’s father, Bernard, heads the LVMH Group whose portfolio includes Louis Vuitton, Moët, Hennessy, Marc Jacobs, Dior among others. Delphine heads the Dior shoe and bag divisions and is involved with many other products and designers.

Sam Branson: Sam’s father, Sir Richard Branson, is worth an estimated $3.8 billion and is the man behind the Virgin collection of companies such as Virgin Records, Virgin Books, Virgin Atlantic Airways, Virgin Mobile and Virgin fuels. Sam is often seen hanging with Hollywood celebutantes, modeling, and relaxing on his dad’s private 74 acre island, Necker Island. It remains to be seen just how much Sam will eventually be involved in his father’s businesses.

Charlene de Carvalho-Heineken: Charlene became the wealthiest woman in the Netherlands when her father, Alfred Heineken, passed away in 2003. The heiress to the premium beer from Holland is worth more than $7 billion and is currently maintaining the business’ operations.

The Ikea sons:

IKEA is the world’s premier supplier of affordable home furnishings. Headed by Ingvar Kamprad, IKEA is, in fact, the world’s largest furniture retailer generating around $28 Billion dollars per year in worldwide sales. Ingvar’s three sons are expected to inherit tens of billions of dollars while also sitting on the company’s executive board.

Abigail Johnson:

Her family controls 49% of America’s largest mutual fund company, Fidelity Investments. After Harvard Business School, Abigail quickly worked her way through the ranks at Fidelity and in 2001, took control of Fidelity’s mutual fund division. As of 2008, Abigail Johnson was worth around $15 Billion dollars US, placing her as the 43rd richest person in the world.

Aditya Mittal:

Aditya is the heir and CFO of the Arcelor Mittal Steel company. He was instrumental in the company’s $38 billion takeover of European steel business, Arcelor.

Ivanka Trump

daughter of Donald Trump, Ivanka stands to inherit her father’s undisclosed amount of personal wealth as well as real estate and entertainment assets. She is already the vice president of real estate development and acquisitions of the Trump Organization.

Allegra Versace:

On her 18th birthday, Allegra came into the inheritance left to her valued at over $700 million. After her early education in Milan, Allegra attended Brown University. Her struggle with anorexia is well documented and ongoing. She currently lives in Italy with her mother, Donatella, and is extremely active in the direction that the Versace brand ultimately undergoes.

Aerin Lauder Zinterhofer

Granddaughter of cosmetic greatness, Estee Lauder. Today, the Estee Lauder Company is comprised of 19 brands including Clinique, Prescriptives, Aveda, MAC and Origins. In 2004, Aerin’s stock holdings in Estee Lauder alone topped $550 million US.

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