Two American billionaire families are using Brexit to build a London property empire

Two American billionaire families are using Brexit to build a London property empire

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   November 08, 2018  
 
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Two American billionaire families are using Brexit to build a London property empire

Uncertainties surrounding Brexit has for the most part slowed the amount of money flowing into the UK —c ompanies are putting projects on hold, staff are being relocated from London to other European business hubs, and London's role as a dominant financial center is under threat.

A pair of billionaire American families, however, is seizing on what they see as an opportunity.

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According to Bloomberg, the FirethornTrust — a firm run in tandem by two families, the Stephens and the Van Tuyls — is looking to invest heavily in the London property market in the coming years amid potentially volatile, uncertain market conditions.

"Brexit in its current status causes uncertainty," Peter Mather, one of the FirethornTrust's founding partners told Bloomberg. "The uncertainty causes volatility, and the volatility causes opportunity."

The Stephens family made its money through the Arkansas-based Stephens Inc, one of the largest privately run investment banks in the US, while the Van Tuyls entered the ranks of billionaires after selling their auto dealership business to Warren Buffett's Berkshire Hathaway in 2014.

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Epicentre
London, UK
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Will Martin
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