China

Billionaires are growing in numbers and many want philanthropic advice, but public trust in charities has dropped and challenges remain in getting donations to where funds are most needed.

These were among the international perspectives and trends in philanthropy discussed at the first Philanthropy Programme event for 2018, organised by Philanthropy Impact and the STEP Society.

L’Oreal heiress Liliane Bettencourt dies at 94

Liliane Bettencourt, the heiress to the L’Oreal cosmetics fortune and the world’s richest woman, has died at home in Paris, aged 94.

Bettencourt, whose net worth was estimated at $39.5 billion, was the daughter of Eugène Schueller, who made a fortune as the inventor of modern hair dye and founder of L’Oreal.

Bettencourt was said to have adored her father, whose company she inherited on his death in 1957, her mother having died when she was five.

The global financial crisis triggered a change in the way the Chan family approached philanthropy. Now Dee Dee Chan is using her skills in Hong Kong’s wealth management industry at JP Morgan and BNP Paribas to drive social change as director of her family’s Seal of Love Charitable Foundation

What do you hope to achieve with your wealth?

Family business Toyota shot up almost one-third in its brand portfolio value to $55.3 billion this year, in the latest annual evaluation of the world’s most powerful brands.

The Japanese company owned by the Toyoda family grew by 30% to become the fifth fastest growing portfolio of brands, according to branded business valuation and strategy consultancy Brand Finance.