People

When Heather Cho, the daughter of the owner of Korean Air, went crazy over the way her nuts were served to her the world reacted with anger (and laughter). But her behaviour is typical of the arrogant chaebols. Her outburst could cost them dear. 

A new list of Germany’s 500 wealthiest individuals and families reveals to what extent the country’s economy and culture is dominated by the family-owned Mittelsand firms.

Saudi Prince Alwaleed bin Talal, who owns a large chunk of News Corp, failed to back Rupert Murdoch during a recent shareholder revolt. Now it is clear that he holds the cards in the firm’s succession saga.

Lee Jae-yong is quickly making changes at Samsung, now that it seems certain that he has taken the reins of the business. Recent management changes and acquisitions suggest he’s taking it in an exciting new direction.

Eugenio Re Rebaudengo, the son of art collector Sandretto Re Rebaudengo and her industrialist husband Agostino, talks dead squirrels, crazy artists and why selling art online is the future.

Patrick Thomas spent his entire career at family-owned firms, including Pernod Ricard, where he became CFO at 33, German cosmetics firm Lancaster and William Grant & Son, and most famously Hermes. He says that family firms should get better at lobbying politicians. 

The property arm of the Safras, a Brazilian banking dynasty, has bought iconic London office building The Gherkin. The family has been on something of a global spree of picking up famous addresses in the past year. 

Two of Australian mining billionaire Gina Rinehart’s children have launched a legal case against her, criticising the way she runs her business. It is the latest development in a long-running and increasingly bitter feud. 

Buyout firms are still doing deals in the Middle East, but they are very different to the leveraged buyouts still associated with PE in Europe and the US. 

The financial services are often criticised for being too macho. Family businesses seem to be one of the few ways that women can work their way to the top of the sector.