David and Frederick Barclay facts for kids
Quick facts for kids
Sir David Barclay
and Sir Frederick Barclay |
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Brecqhou – Barclay brothers' castle
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| Born | David: David Rowat Barclay 27 October 1934 Frederick: Frederick Hugh Barclay 27 October 1934 Hammersmith, London, England |
| Died | David: 10 January 2021 (aged 86) |
| Occupation | Businessmen |
Sir David Rowat Barclay (who passed away on 10 January 2021) and Sir Frederick Hugh Barclay (born 27 October 1934) were famous British twin brothers. They were often called the "Barclay Brothers" or "Barclay Twins". They were identical twins who worked together on many business projects. These projects were mainly in media (like newspapers and magazines), retail (shops), and property (buildings).
In 2020, The Sunday Times estimated their wealth to be around £7 billion. They were known for being very private and avoiding public attention.
David's son, Aidan, now manages their businesses in the UK. Their company, Press Holdings, owns popular magazines like Apollo and The Spectator. They also own Telegraph Group Limited, which publishes The Daily Telegraph and The Sunday Telegraph newspapers.
In 1993, the brothers bought the lease for Brecqhou island. This small island is located off the coast of Sark and is one of the Channel Islands.
Contents
About the Barclay Brothers
The Barclay brothers were born just ten minutes apart in Hammersmith, London. Their parents were from Scotland. They were two of ten children in their family. Their father passed away when they were twelve years old.
In 1950, when they were sixteen, they left school. They started working in the accounts department at the General Electric Company. After that, they began their own business as painters and decorators.
In 1955, David married Zoe Newton, who was a ballet dancer. Zoe became a very famous model in Britain. She appeared on many magazine covers and in TV advertisements.
By the late 1950s, the brothers were running a small shop called Candy Corner. They faced some financial difficulties with this business. However, they soon moved on to other ventures.
In 1962, David became a director of Hillgate Estate Agents. His wife, Zoe, also joined him as a co-director. By 1968, Frederick was managing the family businesses. During this time, they started buying old boarding houses in London. They would then make them into modern hotels.
Between 1968 and 1974, the twins received large loans from the Crown Agents. This was a government agency that helped developing countries do business in Britain. In 1970, they bought Gestplan Hotels. This company owned the fancy Londonderry House Hotel in Park Lane.
In the mid-1970s, Frederick married Hiroko Asada. She was well-known in Japanese society in London.
From the late 1960s, the Barclay brothers continued to invest in many different businesses. These included breweries and casinos. In 1975, they bought the Howard Hotel, which had great views of the River Thames.
In 1983, they bought a large company called Ellerman Lines. This company was involved in brewing and shipping. They later sold the brewing part for a lot of money. They used this money to buy the famous Ritz Hotel in London in 1995. They also bought a shipping company called Gotaas-Larsen and a car retail chain.
The brothers were also very generous. They were knighted in 2000 for their support of medical research. They had donated an estimated £40 million to this cause between 1987 and 2000.
In 2004, they were listed as the 42nd richest people on The Sunday Times Rich List. By 2012, they were at the top of the Media Rich List.
David Barclay passed away on 10 January 2021, after a short illness.
Business Interests
The Barclay brothers built a huge business empire over many years. They were involved in many different types of companies.
Shipping
Ellerman Lines
In 1983, the brothers bought Ellerman Lines for £45 million. This company had both brewing and shipping businesses. They later sold the brewing part for a large profit. They also sold the shipping business. This deal helped the Barclays learn a key strategy: buying companies, splitting them up, and making money from their properties.
Retail
The Very Group and Littlewoods
In 2002, the brothers bought Littlewoods, a retail company based in Liverpool, for £750 million. They combined Littlewoods with another company they owned, The Very Group. This created Littlewoods Shop Direct Home Shopping Limited. This new company became a major player in the UK's home shopping market.
They also closed and sold off the Littlewoods department stores. Many of these stores were bought by Associated British Foods and leased to its subsidiary Primark. Other stores were leased to companies like Marks & Spencer and New Look.
Yodel
The delivery company Yodel is part of their business interests. It has faced some challenges with its service in the past. However, it has worked to improve its services in recent years.
handbag.com
In 2006, the Barclays sold handbag.com for £22 million. They had acquired this website after it was started as a joint project between other companies. Handbag.com was one of several websites for women, focusing on fashion and lifestyle.
Woolworths and Ladybird brands
On 2 February 2009, the brothers' company, The Very Group, bought the brand names of Woolworths and Ladybird children's clothing. They bought these from the administrators of the former Woolworths Group.
Newspapers
Many of the brothers' newspaper and magazine businesses are owned through a company called Press Holdings, based in Jersey.
The European
In 1992, the Barclay brothers entered the newspaper business. They bought The European newspaper. This paper used to be owned by Robert Maxwell. It became a weekly business newspaper, but it closed down in 1998.
The Scotsman
In 1995, they bought The Scotsman newspaper. In 1996, they hired Andrew Neil, a well-known editor, to manage their publishing businesses. On 19 December 2005, the Barclays sold The Scotsman for £160 million. They had owned the newspaper for ten years. During their ownership, The Scotsman had many different editors.
Sunday Business
In 1998, they bought and relaunched the Sunday Business newspaper. It later became a weekly magazine called The Business in 2006. In 2008, it was merged into The Spectator magazine.
The Telegraph Media Group
In July 2004, the Barclays bought The Telegraph Group. This group now known as Telegraph Media Group, includes The Daily Telegraph, The Sunday Telegraph, and The Spectator. They bought it after a long bidding process and some legal disputes. The Telegraph Group was previously owned by Conrad Black, a Canadian-born British businessman.
The brothers' time owning newspapers was sometimes challenging. For example, at the Telegraph Group, over 100 journalists lost their jobs in 2006. There were also several changes in editors for The Sunday Telegraph.
In October 2019, it was announced that the brothers were looking to sell the Telegraph Group.
Images for kids
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The Barclay brothers' castle on Brecqhou island.
