British billionaire David Barlcay, co-founder of a business empire that includes retail, newspapers and some of the world’s most important hotels, died at the age of 86.
According to Bloomberg News, Barclay died after a short illness.
Owning The Telegraph, the Ritz Hotel in London’s Mayfair district and other real estate investments, Barclay and his twin Frederick are among the wealthiest managers in the UK. According to Forbes, their net worth is estimated at $ 4.3 billion.
“It was a great journey in everything we did, good, bad, ugly,” Frederick Barclay said in a statement. “We’ve seen it from the bombing of our Coventry beds to the deals we made and the ones that escaped.”
The brothers, who were born 10 minutes in a row, began in the 1960s by transforming old guesthouses into small hotels. They later expanded their empire to acquire major London properties, such as the Ritz – which they sold to a Qatari investor in 2020 – and a stake in a hotel group that operated Claridges and the Connaught. They sold this share in 2015.
According to Bloomberg, the brothers also own the Telegraph Group, a media company that publishes the Daily Telegraph and the Spectator.
Despite their growth, the business remained largely a family affair, with the exception of litigation, which put the family in the spotlight.
“We were twins from start to finish,” Frederick said in a statement. “He was with his right hand on my left and I was his left with his left.” I’ll meet you again. “
[Bloomberg] – Sasha Jones