Plain-language essays on family offices and how great fortunes were built: history, accounting, strategy, M&A, and capital.https://familycapitalblog.com/https://familycapitalblog.com/posts/castel-fund-trust-hired-ceo/https://familycapitalblog.com/posts/castel-fund-trust-hired-ceo/A Singapore court backed Romy Castel's votes at the company that manages the fund owning the Castel group, yet the hired CEO stays. How the chain works and who holds which lever.Wed, 14 Oct 2026 17:30:00 GMTfamily officetrustssuccessiongovernanceCastelfamily business disputeshttps://familycapitalblog.com/posts/sk-chey-divorce-share-sale/https://familycapitalblog.com/posts/sk-chey-divorce-share-sale/SK chairman Chey Tae-won is selling ₩944 billion of SK Inc. shares to pay a court-ordered property division. How a block sale and a price return swap raise cash while he stays in control.Wed, 14 Oct 2026 17:00:00 GMTfamily officeSK GroupKoreashare salecontrolderivativeshttps://familycapitalblog.com/posts/samsung-lee-gift-tax-shares/https://familycapitalblog.com/posts/samsung-lee-gift-tax-shares/Hong Ra-hee is giving Lee Jae-yong 11.16 million Samsung Electronics shares, weeks after selling him 7.67 million. How Korea values listed shares for gift tax, and why the bill is not yet known.Wed, 14 Oct 2026 16:30:00 GMTfamily officegift taxinheritance taxSamsungsuccessionKoreahttps://familycapitalblog.com/posts/getty-images-family-bankruptcy/https://familycapitalblog.com/posts/getty-images-family-bankruptcy/On 12 October Getty Images agreed a prepackaged Chapter 11 plan: the Getty family and Koch invest up to $533 million and get 100%. How it works, and why public shareholders are set to receive nothing.Wed, 14 Oct 2026 16:00:00 GMTfamily officeGetty familyChapter 11Kochtake-privatehttps://familycapitalblog.com/posts/luksic-copper-dynasty-100/https://familycapitalblog.com/posts/luksic-copper-dynasty-100/A century after his birth, how a Chilean car dealer sold a mine to Japanese buyers, bought a British railway company and left his family two holdings: one for copper, one for banking and beer.Wed, 14 Oct 2026 15:30:00 GMTfamily officeLuksicChileholding companysuccessionhttps://familycapitalblog.com/posts/henkel-share-pooling-agreement/https://familycapitalblog.com/posts/henkel-share-pooling-agreement/Henkel turned 150 in September 2026 and is still controlled by the founder's descendants. The tool is a contract: a family voting pool with 61.85% of the votes, inside a German KGaA.Wed, 14 Oct 2026 15:00:00 GMTfamily officefamily businessHenkelvoting rightssuccessiongovernancehttps://familycapitalblog.com/posts/new-world-development-cheng-family/https://familycapitalblog.com/posts/new-world-development-cheng-family/Hong Kong's New World Development lost about $3.6 billion in its latest year. The Cheng family's holding company promises support, Bain is reportedly interested, and control is the sticking point.Wed, 14 Oct 2026 14:30:00 GMTfamily officeCheng familyChow Tai FookHong Kong propertycontrolhttps://familycapitalblog.com/posts/switzerland-beneficial-ownership-register/https://familycapitalblog.com/posts/switzerland-beneficial-ownership-register/Since 1 October 2026, most Swiss companies must tell a federal register who ultimately controls them. What such a register is, the Swiss rules, and how they compare with the EU and UK.Wed, 14 Oct 2026 14:00:00 GMTfamily officebeneficial ownershiptransparency registeranti-money launderingtrustshttps://familycapitalblog.com/posts/oatley-rosemount-buyback/https://familycapitalblog.com/posts/oatley-rosemount-buyback/Treasury Wine Estates is selling Rosemount, Ingoldby and Secret Stone to A.G. Oatley Wines, returning Rosemount to the family that founded it in 1969. The price was not disclosed.Wed, 14 Oct 2026 13:30:00 GMTfamily officeOatley familywinebrand buybackTreasury Wine Estateshttps://familycapitalblog.com/posts/fed-survey-consumer-finances-2025/https://familycapitalblog.com/posts/fed-survey-consumer-finances-2025/The Federal Reserve's 2025 Survey of Consumer Finances shows families headed by people aged 75 and over with the highest median net worth, while the youngest families lost ground.Wed, 14 Oct 2026 13:00:00 GMTfamily officewealth datainheritancegreat wealth transferUnited Stateshttps://familycapitalblog.com/posts/sawiris-voltaire-london-trial/https://familycapitalblog.com/posts/sawiris-voltaire-london-trial/A 10-week trial opened in London on 12 October. Sawiris-linked companies say they were misled about who controlled the currency business they funded. What it teaches about checking control.Wed, 14 Oct 2026 12:30:00 GMTfamily officedue diligencebeneficial ownershiplitigationSawiris familyhttps://familycapitalblog.com/posts/oryx-management-buyout-gandur/https://familycapitalblog.com/posts/oryx-management-buyout-gandur/Oryx's chief executive and its head of trading are buying control from Jean-Claude Gandur's AOG at a reported value of about $1 billion. What a management buyout is, and what is still unconfirmed.Wed, 14 Oct 2026 12:00:00 GMTfamily officemanagement buyoutfounder exitOryx EnergiesAfricahttps://familycapitalblog.com/posts/korea-heirs-dividends-inheritance-tax/https://familycapitalblog.com/posts/korea-heirs-dividends-inheritance-tax/A Korean newspaper's count of 58 listed companies suggests payouts rise after a new largest shareholder takes over. Meanwhile, the basic inheritance tax deduction has not moved since 1997.Wed, 14 Oct 2026 11:30:00 GMTfamily officeinheritance taxdividendssuccessionKoreahttps://familycapitalblog.com/posts/malaysia-forest-city-multi-family-office/https://familycapitalblog.com/posts/malaysia-forest-city-multi-family-office/Budget 2027 adds a multi-family office model to Forest City, where single family offices can pay 0% on qualifying income for up to 20 years. What exists, what is new, and what is still missing.Wed, 14 Oct 2026 11:00:00 GMTfamily officemulti-family officeMalaysiatax incentivesForest Cityhttps://familycapitalblog.com/posts/thyssen-collection-mauritshuis/https://familycapitalblog.com/posts/thyssen-collection-mauritshuis/Madrid's Thyssen-Bornemisza museum and the Mauritshuis are swapping 25 paintings each way. Behind the exchange is a family collection that was split, bought back and finally sold to Spain.Wed, 14 Oct 2026 10:30:00 GMTfamily officeart collectionssuccessionThyssen-Bornemiszamuseumshttps://familycapitalblog.com/posts/slim-family-power-sharing/https://familycapitalblog.com/posts/slim-family-power-sharing/Expansión's 2026 ranking of Mexico's most important business people includes five members of the Slim family. Their board seats show power split by company, not handed to one heir.Wed, 14 Oct 2026 10:00:00 GMTfamily officesuccessiongovernanceSlimMexicohttps://familycapitalblog.com/posts/luxembourg-budget-2027-holding-period/https://familycapitalblog.com/posts/luxembourg-budget-2027-holding-period/Bill no. 8800 would stretch Luxembourg's speculative period from six to twelve months, including for carried interest, exempt business gifts within the family and cut corporate tax by one point.Wed, 14 Oct 2026 09:30:00 GMTfamily officecapital gainscarried interestgift taxLuxembourghttps://familycapitalblog.com/posts/bgroup-isma-controlli-exit/https://familycapitalblog.com/posts/bgroup-isma-controlli-exit/The Seragnoli family's investment holding, B.group, is selling building-automation maker iSMA Controlli to London-listed IMI at a €63 million enterprise value. A textbook buy, build and sell cycle.Wed, 14 Oct 2026 09:00:00 GMTfamily officeSeragnoliexitsprivate equityM&Ahttps://familycapitalblog.com/posts/malaysia-king-rare-earths-stake/https://familycapitalblog.com/posts/malaysia-king-rare-earths-stake/On 12 October Sultan Ibrahim bought 2.25% of Singapore-listed Southern Alliance Mining off-market, at a premium of about 12%. What he bought, from whom, and what the company owns.Wed, 14 Oct 2026 08:30:00 GMTroyal familiesSultan Ibrahimrare earthsSingapore ExchangeJohorhttps://familycapitalblog.com/posts/koos-bekker-somerset-estate/https://familycapitalblog.com/posts/koos-bekker-somerset-estate/Koos Bekker's family trust has sold Prosus and Naspers shares to fund hotel building. In Somerset, the couple's estate, The Newt, spans over 2,700 acres, a Guardian analysis says.Wed, 14 Oct 2026 08:00:00 GMTfamily trustKoos BekkerProsusdiversificationreal estatehttps://familycapitalblog.com/posts/arnault-lvmh-agache-sca/https://familycapitalblog.com/posts/arnault-lvmh-agache-sca/The Arnault family plans to fold its holding chain into one listed partnership limited by shares, Agache SCA, with 49.76% of LVMH. What an SCA is and why it locks in control.Mon, 12 Oct 2026 17:30:00 GMTfamily officeholding companyLVMHArnaultsuccessiongovernancehttps://familycapitalblog.com/posts/tata-trusts-tata-sons/https://familycapitalblog.com/posts/tata-trusts-tata-sons/Two years after Ratan Tata's death, the charities that own about 66% of Tata Sons are at odds with its board, and with each other, over a listing. How charity ownership works, and where it can jam.Mon, 12 Oct 2026 17:00:00 GMTfamily officeTatacharitable trustssuccessiongovernancehttps://familycapitalblog.com/posts/ambani-jio-ipo/https://familycapitalblog.com/posts/ambani-jio-ipo/Jio Platforms is preparing India's largest IPO by selling under 3% of itself in new shares. How the deal works, why the family keeps control, and how investors judge the heirs.Mon, 12 Oct 2026 16:30:00 GMTfamily officeIPOsuccessionAmbanicontrolhttps://familycapitalblog.com/posts/china-offshore-trust-tax/https://familycapitalblog.com/posts/china-offshore-trust-tax/China now looks straight through offshore trusts to the resident who funded them. What is taxed, at what rate, and why 22 October 2026 matters.Mon, 12 Oct 2026 16:00:00 GMTfamily officetrustsChinalook-through taxationHong Konghttps://familycapitalblog.com/posts/wertheimer-chanel-family-office/https://familycapitalblog.com/posts/wertheimer-chanel-family-office/Bloomberg reports that Gérard Wertheimer has set up a family office in Geneva, alongside the family's New York office, Mousse Partners. Why rich families run more than one office.Mon, 12 Oct 2026 15:30:00 GMTfamily officeWertheimer familyChanelsuccessionSwitzerlandhttps://familycapitalblog.com/posts/germany-inheritance-tax-business-heirs/https://familycapitalblog.com/posts/germany-inheritance-tax-business-heirs/Germany's constitutional court hears two inheritance tax cases on 12 and 13 October 2026. At stake: relief that lets the largest business transfers pay almost no tax.Mon, 12 Oct 2026 15:00:00 GMTfamily officeinheritance taxfamily businesssuccessionGermanyhttps://familycapitalblog.com/posts/weston-family-boots/https://familycapitalblog.com/posts/weston-family-boots/On 7 October the Canadian Westons agreed to buy Boots from Sycamore Partners. Who the buyer really is, why there are two Wittingtons, and what patient family capital offers a seller.Mon, 12 Oct 2026 14:30:00 GMTfamily officeWeston familyprivate equityholding companyBootshttps://familycapitalblog.com/posts/ellison-oracle-pledge-warner-bros/https://familycapitalblog.com/posts/ellison-oracle-pledge-warner-bros/The Ellisons now control Warner Bros. through Skydance, while Larry Ellison has pledged 413 million Oracle shares for personal loans. What pledging means, and the lesson about concentration.Mon, 12 Oct 2026 14:00:00 GMTfamily officeEllisonshare pledgingconcentration riskmediahttps://familycapitalblog.com/posts/del-vecchio-delfin-heirs/https://familycapitalblog.com/posts/del-vecchio-delfin-heirs/Delfin, the Luxembourg holding of Leonardo Del Vecchio's eight heirs, has backed Intesa Sanpaolo's offer for MPS. What Delfin would receive, and why an 88% rule keeps the heirs locked together.Mon, 12 Oct 2026 13:30:00 GMTfamily officeDel Vecchioholding companysuccessionfamily governancehttps://familycapitalblog.com/posts/france-holding-gift-tax-apport-cession/https://familycapitalblog.com/posts/france-holding-gift-tax-apport-cession/France's 2027 budget bill would make tax deferred under the 'apport-cession' regime payable when holding shares are gifted or inherited, from 1 October 2026. It is still a proposal.Mon, 12 Oct 2026 13:00:00 GMTfamily officeholding companyFranceapport-cessiongift taxsuccessionhttps://familycapitalblog.com/posts/hungary-wealth-tax-trusts-foundations/https://familycapitalblog.com/posts/hungary-wealth-tax-trusts-foundations/Hungary plans a yearly tax of 1% on net wealth above HUF 1 billion and 1.5% above HUF 100 billion. Trusts, foundations and recent emigrants are in scope.Mon, 12 Oct 2026 12:30:00 GMTfamily officewealth taxtrustsfoundationsHungaryhttps://familycapitalblog.com/posts/tvs-family-succession-dispute/https://familycapitalblog.com/posts/tvs-family-succession-dispute/Venu Srinivasan's family reportedly disagrees over whether a 2024 memorandum divided the TVS businesses for good. A lesson in splitting companies without splitting value.Mon, 12 Oct 2026 12:00:00 GMTfamily officesuccessionfamily businessTVSfamily settlementhttps://familycapitalblog.com/posts/family-succession-plans-data/https://familycapitalblog.com/posts/family-succession-plans-data/New surveys of North American family offices and affluent U.S. parents show the same gap: the money is being prepared for the next generation, but the conversations are not.Mon, 12 Oct 2026 11:30:00 GMTfamily officesuccessioninheritancefamily governancenext generationhttps://familycapitalblog.com/posts/mittal-airtel-money-listing/https://familycapitalblog.com/posts/mittal-airtel-money-listing/Airtel Money began trading in London on 9 October at a £5.3 billion valuation, with no new money raised. How the Mittal group keeps control by listing its businesses one layer at a time.Mon, 12 Oct 2026 11:00:00 GMTfamily officeIPOholding companyBharticontrolhttps://familycapitalblog.com/posts/france-holding-company-tax/https://familycapitalblog.com/posts/france-holding-company-tax/French deputies backed in committee a 2% annual tax on portfolio securities held by family holding companies. What it would cover, why France targets holdings, and why it is not law.Mon, 12 Oct 2026 10:30:00 GMTfamily officeholding companyFrancewealth taxbudget 2027https://familycapitalblog.com/posts/california-billionaire-tax-prop-40/https://familycapitalblog.com/posts/california-billionaire-tax-prop-40/On 3 November, Californians vote on a one-time 5% tax on billionaires' net worth. The rules, the revenue estimates, the latest poll, Newsom's stance and the money behind the opposition.Mon, 12 Oct 2026 10:00:00 GMTwealth taxCaliforniabillionairestax residencyballot measureshttps://familycapitalblog.com/posts/japan-1946-capital-levy/https://familycapitalblog.com/posts/japan-1946-capital-levy/In November 1946 Japan taxed private wealth once, at rates up to 90%. How the levy worked, what the zaibatsu families lost, and how it compares with today's 1–5% proposals.Mon, 12 Oct 2026 09:30:00 GMTfamily officewealth taxcapital levyJapanzaibatsuhttps://familycapitalblog.com/posts/iba-teigo-sumitomo/https://familycapitalblog.com/posts/iba-teigo-sumitomo/A century after his death, the salaried manager who moved Sumitomo's smelter to an island, replanted its mountains, helped found its bank and retired at 58.Mon, 12 Oct 2026 09:00:00 GMTfamily officesuccessiongovernanceSumitomoJapanhttps://familycapitalblog.com/posts/five-mistakes-managing-family-wealth/https://familycapitalblog.com/posts/five-mistakes-managing-family-wealth/Why fortunes fade over generations, what the famous 70% statistic really shows, and the five mistakes that family office surveys flag again and again.Thu, 08 Oct 2026 12:00:00 GMTfamily officesuccessionfamily governancewealth managementinheritancehttps://familycapitalblog.com/posts/holding-structures-in-plain-english/https://familycapitalblog.com/posts/holding-structures-in-plain-english/The five building blocks wealthy families use to hold assets, explained without jargon, with real examples from the Rockefellers, Onassis, the Waltons, Bosch, and Novo Nordisk.Thu, 08 Oct 2026 11:00:00 GMTfamily officeholding companytrustsfoundationssuccessionhttps://familycapitalblog.com/posts/how-much-does-a-family-office-cost/https://familycapitalblog.com/posts/how-much-does-a-family-office-cost/What the latest surveys say about the yearly cost of a family office, where the money goes, and the simple arithmetic that tells you when one makes sense.Thu, 08 Oct 2026 10:00:00 GMTfamily officecostsbasis pointswealth managementhttps://familycapitalblog.com/posts/single-family-office-vs-multi-family-office/https://familycapitalblog.com/posts/single-family-office-vs-multi-family-office/One family or many: how single and multi family offices differ, how much money each usually needs, and why some of the oldest family offices opened their doors to other families.Thu, 08 Oct 2026 09:00:00 GMTfamily officesingle family officemulti family officewealth managementhttps://familycapitalblog.com/posts/onassis-part-5-capital/https://familycapitalblog.com/posts/onassis-part-5-capital/How a bank loan backed by an oil company's charter paid for supertankers.Wed, 07 Oct 2026 18:00:00 GMTOnassiscapitalfinancingshippinghttps://familycapitalblog.com/posts/onassis-part-4-m-and-a/https://familycapitalblog.com/posts/onassis-part-4-m-and-a/How Onassis took control of the Monte Carlo casino company, and how he lost it.Wed, 07 Oct 2026 17:00:00 GMTOnassisM&AMonacohttps://familycapitalblog.com/posts/onassis-part-3-strategy/https://familycapitalblog.com/posts/onassis-part-3-strategy/Six freighters for $20,000 each, then supertankers: buying low, building ahead.Wed, 07 Oct 2026 16:00:00 GMTOnassisstrategyshippingtankershttps://familycapitalblog.com/posts/onassis-part-2-accounting/https://familycapitalblog.com/posts/onassis-part-2-accounting/Why bigger ships, smaller crews, and offshore structures cut his cost per ton.Wed, 07 Oct 2026 15:00:00 GMTOnassisaccountingcost controlshippinghttps://familycapitalblog.com/posts/onassis-part-1-history/https://familycapitalblog.com/posts/onassis-part-1-history/The first post in a new series on Aristotle Onassis: how a sixteen-year-old refugee started over in Argentina.Wed, 07 Oct 2026 14:00:00 GMTOnassishistoryshippingGreeceArgentinahttps://familycapitalblog.com/posts/rockefeller-part-5-capital/https://familycapitalblog.com/posts/rockefeller-part-5-capital/The final post in the series: how guaranteed freight volume became a cost advantage, and where it crossed a line.Wed, 07 Oct 2026 13:00:00 GMTRockefellercapitalStandard Oilrailroadsrebateshttps://familycapitalblog.com/posts/rockefeller-part-4-m-and-a/https://familycapitalblog.com/posts/rockefeller-part-4-m-and-a/How Standard Oil bought most of Cleveland's refiners in 1872, what it offered them, and what it cost in reputation.Wed, 07 Oct 2026 12:00:00 GMTRockefellerM&AStandard OilClevelandhttps://familycapitalblog.com/posts/rockefeller-part-3-strategy/https://familycapitalblog.com/posts/rockefeller-part-3-strategy/Why Rockefeller stayed out of drilling, took refining and transport, and what it cost him in the end.Wed, 07 Oct 2026 11:00:00 GMTRockefellerstrategyStandard Oilpipelineshttps://familycapitalblog.com/posts/rockefeller-part-2-accounting/https://familycapitalblog.com/posts/rockefeller-part-2-accounting/How Rockefeller tracked costs to a fraction of a cent, made his own barrels, and turned waste into products.Wed, 07 Oct 2026 10:00:00 GMTRockefelleraccountingcost controlStandard Oilhttps://familycapitalblog.com/posts/rockefeller-part-1-history/https://familycapitalblog.com/posts/rockefeller-part-1-history/The first of five posts on John D. Rockefeller, one for each category below. How a boy who kept a ledger at 16 became the base of Standard Oil.Wed, 07 Oct 2026 09:00:00 GMTRockefellerhistorypersonal financeStandard Oilhttps://familycapitalblog.com/posts/what-is-a-family-office/https://familycapitalblog.com/posts/what-is-a-family-office/A family office is a structure that manages the capital, assets, and legal matters of one family or several. We start the series with the main question: do you need one at all?Tue, 06 Oct 2026 09:00:00 GMTfamily officewealth managementfamily businessinheritance