Heineken Strong demand for its
non-alcoholic beer helped family-controlled Heineken
post sales a growth of 7.7% by volume in 2018—its
best performance in over a decade. Its success was credited to Heineken®
0.0 being rolled out to 38 markets worldwide.
French families Notre Dame donations draw backlash
F
rance’s billionaire families are facing a backlash over their recent pledge to donate €500 million ($700
million) to rebuild the fire-damaged Notre-Dame Cathedral, with critics questioning its worthiness as a cause. In the immediate aftermath of the fire
at Notre Dame Cathedral, the Pinault family, owners of Gucci parent company, Kering pledged €100 million towards the cathedral’s restoration. Hours later, both the Arnault family,
owners of luxury group LVMH headed by billionaire Bernard Arnault, and L’Oreal’s Bettencourt Meyers family pledged €200 million each. But after initial praise by the media,
there has been a growing backlash about income inequality and the worthiness of the cause.
NUMBERS CRUNCHED
gifted to the University of Cambridge by David Harding, the billionaire founder of hedge fund firm Winton Group to provide more than $102 million worth of full scholarships for PhD students and $26 million to support undergraduates.
ISSUE 75 | 2019
invested by Cosentino family-owned Cosentino Group, world leader in the design, production and distribution of innovative surfaces, for a new sales and logistics centre in Stockholm as part of its $246 million European expansion.
stake in Tesla acquired by billionaire Oracle founder Larry Ellison through his family office, the Lawrence J Ellison Revocable Trust. The 1.75% stake makes him the second-largest shareholder of Tesla after founder Elon Musk.
in fines given to tycoon George Soros’ family office, Soros Fund Management, by Hong Kong’s securities regulator for naked short selling for a trade involving a bonus share issue of Great Wall Motor in 2015.
CAMPDENFB.COM 5 Philippe Marinez, head of France’s CGT
trade union, told the Washington Post: “In one click, 200 million, 100 million. If they can give tens of millions to rebuild Notre Dame, then they should stop telling us there is no money to help with social emergency”. French politician and trade unionist,
Philippe Poutou called the donations “a contest of tax evaders” after French prime minister Edouard Philippe increased the usual tax break for donations from 66% to 75%, for gifts up to €1,000. Responding to the criticism at a
shareholder meeting, Bernard Arnault said his family holding company was not eligible for a tax break and his firm had reached a ceiling for such benefits. The Pinault family also responded by
saying it would not be seeking any tax breaks on its €100 million donation.
GOOD QUARTER
QUARTER BAD
Reimann
Germany’s Reimann family, owners of Pret A Manger and Krispy Kreme Doughnuts, has pledged to donate $10 million to charity after a commissioned report revealed the extent of their patriarch’s involvement with the Nazi regime, including the use of slave labour.
$130 m
$477,000
$1 bn
$192,000
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