British Billionaire and Daily Telegraph Co-Owner David Barclay Dies Aged 86.
British billionaire and Daily Telegraph co-owner David Barclay has died unexpectedly after a short illness aged 86, the newspaper announced. David and his twin brother, Frederick, bought the proprietorship of the Telegraph Media Group in 2004 after venturing into media ownership in 1992.
The twins began their business empire with hotels and grew to include shipping and retailing. The brothers ventured into media ownership in 1992 when they bought The European, which was followed by the purchase of The Scotsman in 1995 and a few years later the Sunday Business in 1997.
“After these ventures in the publishing arena, the brothers had nurtured since the 1980s an ambition to own the Telegraph group,” The Telegraph said. In October 2019, the Barclay family put the Daily and Sunday Telegraph newspapers up for sale as it was assessing its multi-billion-pound business investments in the United Kingdom. Born in 1934, London, the twins left school at the age of 14.
The pair were knighted in 2000 for services to charity. By this point, their foundation was thought to have donated about £40m to charity and medical research.
The notoriously private twins’ relationship was the subject of an extraordinary legal case last year, in which Sir David’s three sons were accused by his brother of bugging conversations at the Ritz Hotel, which they previously owned.
In its obituary, the Telegraph said Sir David had been a voracious reader, obsessed with newspapers, business, economics and politics, and had always said he had been educated at the “university of life”.
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