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The 7th Duke of Westminster, Hugh Grosvenor, arriving for a memorial service to celebrate the life of his father, the 6th Duke of Westminster, in November 2016.
Talk about an incomplete LinkedIn profile.
Hugh Grosvenor’s LinkedIn has him down as a member of staff (no title mentioned) at Bio-bean, a company that recycles waste coffee grounds into biofuels. It mentions some stints as a graduate at Grosvenor Group.
It omits the fact that as the 7th Duke of Westminster he is the owner of said Grosvenor property company, which has a portfolio valued at more than $13B — making him one of the richest people in the world. He inherited the title and wealth at the age of 26 upon the sudden death of his father.
Grosvenor, the family and the company, is the definition of dynastic wealth. It made its fortune by buying up some farmland in what became Mayfair and Belgravia in London, and has retained ownership of some of the world’s most expensive real estate ever since. The group has expanded into other areas of London and the U.K., Europe, the U.S. and even China, but those Central London holdings remain the heart of its empire.
The company is also the definition of dynastic wealth in another way. Because Grosvenor’s assets are held in trusts, it does not pay inheritance tax in the conventional way, and thus the family’s wealth has stayed intact for generations. The family is also a fan of primogeniture. Hugh Grosvenor is the third of four children, but as the only boy, inherits the family’s title and wealth. — Mike Phillips
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