Jonathan Crystal

253 Flips | 2 Magazines | 8 Likes | 6 Following | 14 Followers | @JonathanCrystal | Family business principal. Insurance executive.

Five Cross-Generational Transformations Of Successful Family Enterprise

The owners of a family business struggle to keep their family in harmony and their family enterprises fruitful as they cross generations. Few are able to survive more than one generational transition intact. My colleagues and I have interviewed nearly 100 family leaders of large global business …

Genealogy

The trouble with charitable billionaires

In February 2017, Facebook’s founder and CEO Mark Zuckerberg was in the headlines for his charitable activities. The Chan Zuckerberg Initiative, founded by the tech billionaire and his wife, Priscilla Chan, handed out over $3m in grants to aid the housing crisis in the Silicon Valley area. David …

Income Inequality

A sale of NASCAR was once unthinkable. Now it may be overdue.

Just a decade ago, going to a NASCAR race meant an hours-long ordeal in traffic, idling amid the exhaust fumes of miles and miles of campers, pickup trucks and sedans. For stock-car racing fans, the price was well worth it to celebrate the distinctly American, high-octane thrill of side-by-side …

Motorsport

‘I Am the Mastermind’: Mohammed bin Salman’s Guide to Getting Rich - WSJ

RIYADH—Prince Mohammed bin Salman was a teenager when he realized his father, Prince Salman bin Abdulaziz, was, by Saudi royal standards, a pauper.<p>While other sons of Saudi Arabia’s founder grew wealthy from government business, Salman, then the governor of this capital city, supported his family …

Mohammed bin Salman

Lachlan Murdoch Named Head of Family’s Shrinking TV Empire

LOS ANGELES — For a dynastic drama that played out over decades, with sons falling in and out of favor and an aging father unwilling to loosen his grasp, the accession on Wednesday was anticlimactic: Lachlan Murdoch, as expected, was named chief executive and chairman of his family’s shrinking …

If Trump Is Laundering Russian Money, Here’s How It Works

For Donald Trump, there was the purchase of the $12.6 million Scottish estate and the $79.7 million for golf courses in the United Kingdom, not to …

Sumner Redstone Wouldn’t Have Last Word on a CBS-Viacom Merger

The 94-year-old media mogul would be one vote among seven National Amusements board members<p>Sumner Redstone has overwhelming voting control of CBS Corp. and Viacom Inc. And yet, he won’t have the final say over whether the companies merge.<p>That is because the 94-year-old media mogul, whose health has …

Media Industry

What Happens Now That Nordstrom Isn't Going Private

Earlier today, the special committee of the Nordstrom board of directors ended discussions with the Nordstrom family about taking the company private. The special committee had already rejected the family’s offer as inadequate and gave every indication they were holding out for a better price. With …

Nordstrom

Rothschild Will Soon Promote 7th-Generation Heir to Lead Bank

Rothschild & Co. is preparing to promote the seventh generation of the centuries-old banking dynasty to run the boutique investment bank, according …

Nordstrom Family Tries to Outrun Retail's Woes

Many retailers, beset by online competition and shifting consumer tastes, are slashing costs and closing hundreds of stores. Nordstrom Inc. is doing the opposite.<p>The family-run company has been investing heavily as it tries to outrun the forces battering the industry. It is revamping some of its …

Dude, you broke the future.

The AI future that's already here. "What do our current, actually-existing AI overlords want?" In a speech to the 34th Chaos Communication Congress …

Fox-Disney Deal Gives Rupert Murdoch His King Lear Moment

For a while, Rupert Murdoch seemed invincible.<p>First, the mogul emerged relatively unscathed from a 2011 phone hacking scandal involving his British tabloids that threatened to upend his empire. Then, he installed his sons, Lachlan and James, in leadership roles at 21st Century Fox. And, last year, …

DealBook Briefing: A Fox Deal May Keep Iger at Disney Longer

<i>Good Wednesday. Here’s what we are looking at:</i><p><i>•</i> <i>Disney may extend chief executive Robert Iger’s tenure</i><p><i>• A Disney deal could split the Murdochs as an operating team.</i><p><i>• An investigation of the people who abetted and protected Harvey Weinstein</i><p><i>Like what you see? Get the DealBook Briefing in your inbox</i> …

Founder and CEO of fast-food chain Golden Krust Caribbean Bakery and Grill commits suicide inside his own factory

• <b>Lowell Hawthorne, 57, emigrated to the United States from Jamaica</b>• <b><br>He opened his first Golden Krust Caribbean Bakery and Grill in 1989 in New York</b>• <b><br>The</b> …

242 Years Later, Birkenstock Is Still Ruling The Shoe Game

It’s July in Paris and men’s fashion week is in full swing. In the landmark Jardin de Tuileries, a temporary presentation space-cum-island oasis has been created to the effect of a tropical refuge within the park—a garden within the garden.<p>Dozens of different varieties of plants make up the space’s …

Family Business

Once considered America's richest woman, Caroline Hunt offers a rare look at her famous Dallas family

Oil heiress Caroline Rose Hunt has never been one to seek the spotlight.<p>In the late 1980s, the daughter of legendary wildcatter H.L. Hunt was …

Daughter seeks millions from Esprit co-founder Douglas Tompkins’ will

Billionaire <b>Douglas Tompkins</b>, the North Face and Esprit co-founder who died in a kayaking accident in Chile in December 2015, didn’t leave a dime to …

Laundry Rooms

Ralph Lauren Won’t Let Go of His Shrinking Polo Empire

The first time fashion designer Ralph Lauren tried sharing control of his retail empire ended badly. The new CEO left after only 18 months. Creative …

As Its Namesake Founder Becomes a Liability, Weinstein Co. Weighs Name Change

Harvey Weinstein’s name is being scrapped from future movie and TV projects<p>LOS ANGELES—Weinstein Co. is considering changing its name as it moves to distance itself from former co-chairman Harvey Weinstein, the larger-than-life Hollywood mogul who was once the studio’s biggest asset, but who has …

Harvey Weinstein

Nordstrom Family Scrambles to Save Buyout Plans

Family and private-equity partner explore new structure after struggling to raise debt<p>By<p>Suzanne Kapner and<p>Suzanne Kapner<p>The Wall Street Journal<p>Biography<p>Suzanne.Kapner@dowjones.com<p>Sam Goldfarb<p>Sam Goldfarb<p>The Wall Street Journal<p>Biography<p>sam.goldfarb@wsj.com<p>The Nordstrom family is scrambling to …

Private Equity

Samuel I. Newhouse, Jr., the Longtime Owner of The New Yorker and Chairman of Condé Nast, Has Died at Eighty-Nine

Forty-eight years ago, Gardner Botsford, a longtime editor at this magazine, wrote an obituary and appreciation in these pages of his stepfather, Raoul Fleischmann, a wealthy yeast tycoon, who had underwritten an itinerant newspaperman named Harold Ross to begin a weekly magazine in Jazz Age …

Retail Stores Made Elmira, N.Y., an Unlikely Success—Now They’re Gone - WSJ

To understand the ripple effects of the collapse in traditional retail, look no further than Elmira, N.Y.<p>The city, perhaps best known as the hometown of American fashion icon Tommy Hilfiger, is more exposed to the national retail carnage than almost anywhere else in the U.S.<p>Elmira and the …

Tommy Hilfiger

Many Of The Super-Rich And Family Offices Are Buying 'Apocalypse Insurance'

The Doomsday Clock has moved slightly forward, and many of the super-rich are taking steps to survive if global calamity strikes. Often referred to <i>apocalypse insurance,</i> it is actually about taking actions that will enable them to effectively deal with worldwide, society devastating disasters.<p>A …

Geopolitics

Auberge Resorts: How A Small Family Company Became A Player In Ultra-Luxury Hospitality

Mark Harmon is the founder of Auberge Resorts Collection, a small, family company known in the hospitality industry for developing and operating ultra-luxury inns and resorts across the Americas. When I caught up with Harmon, he was just back from New York, where he had accepted two awards from …

Hospitality

Interpol issues arrest notice for Red Bull heir over fatal hit-and-run accident in Thailand

Interpol has issued a notice for the arrest of the billionaire heir to the Red Bull energy drink fortune who is wanted over a hit-and-run accident in …

Thailand

James Murdoch’s Rebuke of Trump May Signal a Shift

At 5:55 p.m. on Thursday, James Murdoch sent an email to a list of blind-copied recipients offering a striking repudiation of President Trump and a pledge to donate $1 million to the Anti-Defamation League. He addressed the note to “friends,” stating in the first line that he was writing it in a …

Why Did the World’s Richest Woman Give a Gay Artist Nearly a Billion Dollars?

It’s the greatest scandal in 21st century Paris. By one police estimate, $1 billion was given by the L’Oréal heiress to François-Marie Banier, but it …

France