S U C C E S S I O N L A DDE R
AG SUL ZBERGE R R I SING
Fifth-generation Arthur Gregg (AG) Sulzberger, 37, has become the new publisher of The New York Times taking over from his father, Arthur
(AO) Sulzberger Jr, who held the position since 1992 and continues as chairman.
Asian wealth to outpace US
T
he total wealth of Asian billionaires will overtake their US peers in just four years’ time, if current trends continue, the new joint UBS/PwC Billionaires Report 2017 says. The combined wealth of Asian billionaires grew
almost a third from $1.5 trillion to $2 trillion, but still lagged behind the US, which maintained the largest concentration of billionaire wealth. In 2016, US billionaires saw their wealth increase from $2.4 trillion to $2.8 trillion, driven by technological innovation, financial services and materials, the study of 1,542 billionaires found. There were 342 billionaires in Europe by the end of last year, however growth remained stagnant in comparison. European wealth grew modestly by 5% to just over $1.3 trillion, with 24 new billionaires and 21 dropping off, a third of them due to death. This corresponded with previous findings that Europe had the highest number of multigenerational billionaires.
TOTAL WEALTH OF BILLIONAIRES ROSE BY
17% IN 2016 TO
$6 trillion,
DOUBLE THE RATE OF THE MSCI WORLD INDEX
AN ESTIMATED $2.4
trillion OF BILLIONAIRE
WEALTH IS EXPECTED TO BE TRANSFERRED IN THE NEXT TWO DECADES
PHOTOGRAPHY: DAMON WINTER/THE NEW YORK TIMES, GIUSEPPE PINO/BENETTON, OLIVIERO TOSCANI/BENETTON, FABRICA, BERNT ROSTAD, ASPALL
L I Z ZY RUDD R I SING
Lizzy Rudd took over from Simon Berry as
chairman on 1 December 2017 after serving as its deputy chair— the third woman to hold the position in the wine merchant’s 320-year-old
history. She has played a fundamental role in the establishment of the family board.
ME RLIN SWIR E R I SING
Sixth-generation Merlin Swire, 44, has been appointed the first family member chairman of Swire Pacific, the $10 billion Hong Kong- based subsidiary of the 202-year-old UK family-controlled John Swire & Sons.
MM MURUGAPPAN R I SING
MM Murugappan,62, has taken over as executive chairman of his family’s $4 billion
family conglomerate Murugappa, succeeding Arunachalam Vellayan. He has served as the group’s vice-chairman since November 2009.
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