Family Business

Smyth Family Set to Acquire European Ops of Toys “R” Us

Smyths Toys superstore,Newport
Image Credit – Wikimedia The Smyth family, which founded and operates Smyths Toys, has made a €79 million (approximately $93.6 million) offer for the European operations of U.S.- based Toys “R” Us, the now bankrupt toy retail giant. The agreement between the two firms has been inked and submitted to the bankruptcy court. The deal would add 93 stores in Germany, Austria and Switzerland to the existing chain of 110 Smyths stores in Ireland and Great Britain, making Smyths Toys one of the largest toy retailers ...

Succession Planning in Family- Promoted Companies

Jan 08 - 12. 2018
There is enough data, both empirical and anecdotal, to know that most family businesses do not really want to address the elephant in the room - “Who’s next?”.

The Shipping Tycoon Y.K. Pao and his Legacy

With a net worth of $13.4 billion, the Pao family started off in the shipping business with shipping tycoon Y.K Pao. He first established the Word Wide Shipping Company in the 50s with the purchase of a second-hand ship. Over 20 years, the company owned over 200 vessels. Y.K. Pao was knighted by Queen Elizabeth II, and was selected by readers of shipping magazine, Fairplay as “the most influential person in shipping in 120 years”. After his death in 1991, his four daughters and their husbands took over the reins, who individually look after separate entities of his legacy. The families...

Ayala Corporation Being Managed by the Seventh Generation of Zobel Family

The Zobel family, owners of conglomerate Ayala Corp., stands 43rd on Forbes’ list of richest families in Asia, with a net worth of $6.13 billion this year. Filipino businessman Jaime Zobel de Ayala was the managing partner of Ayala Company, before it turned into a corporation. He then served as the managing partner and chairman until 2005. Jaime Zobel is a prominent business figure in the Philippines with a significant reputation towards philanthropy. What started off as a small Manilla distillery is now Ayala Corporation, a company with a net income of 23.2 million within the first 9 m...

Indian Investment Landscape

Indian Investment Landscape

MarketCurrents welcomed Bharat Bhise of Bravia Capital in New York as well as Nitai Utkarsh of HeroMoto Corp’s family office based out of Delhi. Sumehr Sondhi moderated this panel on The Indian Investment Landscape.

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Indian Origin Lohia Ranks among the Richest in Indonesia

Early in his teenage years, Sri Prakash Lohia immigrated to Indonesia with the hope to start his own business venture. Forty years later, he is on Forbes’ 2017 list of richest families in Asia. Although he prefers to keep a low profile, his net worth of $8.7 billion has put the spotlight on his expansive business enterprise – Indorama Corporation. In March 2017, Mr. Lohia was awarded with the ‘Business Personality of the Year Award’. Sri Prakash Lohia’s father split his enterprise between his three sons: Om Prakash Lohia set up Indorama Synthetics in India, Aloke Lohia set up Ind...

Henry Sy Steps Down as Chairman of SM Investments Corporation

With a real time net worth of $20.1 billion dollars, Henry Sy has stood out as the richest man in the Philippines for almost a decade. Presently residing in Manila, Philippines, this billionaire came from a humble beginning and started a small shoe business almost 60 years ago. His success has been unstoppable from then on with large scale expansions into department stores and SM Mall, which generated large revenues that evolved into his business today – SM Investments Corp. Today Henry Sy has an established repute of being a business magnate, investor and philanthropist. During his ru...

John and Patrick Collison – Self Made Billionaires Get Younger

We’re seeing more and more of this and we’re not complaining. John Collison at 26, stands at the world’s youngest self-made billionaire in 2017. Not too much older is his brother Patrick Collison and together these Irish-immigrant brothers have made it big and have done it quick. John and Patrick were both born and raised in rural Ireland, and immigrated to America with an immediate attraction to Silicon Valley. Unlike the 80s and 90s, it is not a rarity to see a billionaire that is below the age of 50. Unsurprisingly, the young billionaires of today seem to have reaped the benef...