One of the most famous hotels in London is called the Ritz and it is owned by the Sir David and Sir Frederick Barclary. The brothers are twins and they are also billionaires who started in property development, branched off into hotels and also own newspapers, retail companies and a package delivery service.
In an article by Paul Waldie of the Canadian Press, the twins are getting older, just like everyone else, and started to think who should run the privately held empire. Each twin has a family and Sir David believes his son Aidan should be the person while Sir Frederick believes his daughter Amanda should have majority stake.
A number of years ago, the twins bought an island in the Channel Islands to built a 92 room castle for both families to enjoy; now the families are split between mansions in London and Monaco.
The ongoing feud which has seen the insides of a court room a number of times is who can sell the Ritz Hotel. Sir David is negotiating with a Saudi group to pay $750 pounds or $1.3 billion. Sir Frederick believes the hotel is worth more than a $1 billion pounds. Sir Frederick is negotiating with a group from Qatar.
The next court date is May.
Linking to dividend paying stocks, once you have money coming into your account, the next step is to allocate it. At first the task is reinvest or take some out to spend elsewhere. As time goes on and the amounts become larger the task is how much to invest or spend elsewhere. Those are good problems to have, however even with the very wealthy communication remains a key.
There are more questions than answers, till the next time – to raising questions.