Family businesses, succession planning and trusts
13 / 11 / 2018
The article was originally published by eprivateclient on 13 November 2018.
Camilla Wallace, partner and head of private client & Rosalyn Breedy, partner and head of funds, Wedlake Bell.
It has recently been reported that Rupert Murdoch’s six children will together receive around $12 billion from the sale of Murdoch’s 21st Century Fox global entertainment empire to Disney, a deal currently being finalised and reportedly worth $71.3 billion.
The children are beneficiaries of a family trust that owns a 17 percent stake in the Fox business and has clearly been put in place to manage the succession to Mr Murdoch’s wealth. What challenges and conflicts do other family businesses face in preserving the business for later generations, and should they be following Mr Murdoch’s example in preparing for succession?
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