Reetu Gupta appointed Chairman of Gupta Group
Two-time recipient of Canada’s 100 Most Powerful Women award, Reetu Gupta, has been named President and Ambassador of The Gupta Group, taking over the leadership of the private family office from her father, Dr. Steve Gupta.
Having worked closely with his father for two decades, Reetu has held various positions within the Gupta Group, most recently as CEO. She will immediately become president, while Dr. Gupta will assume the position of executive president.
In his new role, Reetu will lead strategic planning and philanthropic initiatives across the company, which holds more than $1 billion in real estate development, hospitality, venture capital and mining assets.
“This organizational change is an incredible milestone in our company’s history as I officially hand over the reins to Reetu who will drive the long-term vision for the company and our growing portfolios,” said Dr Gupta, who has left his native India for Toronto in 1971 with a BSc and $108 in his pocket. “Reetu has proven himself as an accomplished leader. I am proud to see her evolve into this role, and have full confidence in the excellence she will deliver for years to come.
“As a female entrepreneur, philanthropist and advocate for all women, I am proud to assume the position of President of Gupta Group,” said Reetu. “I look forward to finding new growth opportunities for our business and for the Canadian economy, while continuing to support important charitable initiatives around the world.
“I also hope to use this new platform to inspire other women and drive change in the business world. As a collective, we can support women in the workplace by approaching each day knowing that there is no there is no glass ceiling.
In his new role, Reetu will guide acquisitions, partner relationships and overall strategy for The Gupta Group Developments, Rogue Insight Capital and Easton’s Group of Hotels, which currently has 18 hotels in its portfolio, with seven additional hotels, two skyscrapers residential skylights and a commercial property under development.
Syndicate Todd Boehly strikes £4.25billion deal to buy Chelsea FC
The consortium led by US billionaire investor Todd Boehly has agreed a £4.25billion deal to buy Chelsea FC – the highest price ever paid for a sports club.
The Los Angeles Dodgers co-owner and his partners – including private equity firm Clearlake Capital, American investor Mark Walter and Swiss businessman Hansjorg Wyss – fought off stiff competition from final-round syndicates led by former British Airways and Liverpool FC chairman Sir Martin Broughton and Boston Celtics co-owner Steve Pagliuca.
“Of the total investment made, £2.5 billion will be applied to buy the shares of the club, and this proceeds will be deposited in a frozen UK bank account with the intention of donating 100% to charitable causes, such as the confirmed by [former Chelsea owner] Roman Abramovich,” Chelsea said in a statement. “In addition, the proposed new owners will commit £1.75bn of additional investment to benefit the club.”
The sale, which requires official approval from the Premier League and the British government, is expected to be finalized at the end of May.
Brazilian billionaire Alberto Safra buys Sao Paulo real estate company
Alberto Safra, one of four children of the late Lebanese-Brazilian billionaire banker Joseph Safra, has expanded his holdings in ASA Investments with the purchase of Sao Paulo-based CORE Real Estate.
Alberto created ASA Investments after leaving the family bank in 2019 and later launched several products including a hedge fund and multi-market, equity and fixed income quantitative strategies. Alberto’s Sao Paulo-based asset management firm also has offices in Rio de Janeiro and New York.
According to a press release, the acquisition of CORE Real Estate “reinforces our objective to become a multi-strategy asset manager”.
CORE, which currently has four corporate budlings across Brazil, was created in 2020 by Martim Fass, the former head of real estate investments at Banco Safra SA. Other partners in the firm include former Safra executives André Mori, Guilherme Fava and lago Alvarenga.
Until October 2019, Alberto was responsible for corporate banking at Banco Safra. He left his post following a dispute with his brother David over the bank’s expansion into retail banking.
In 2021, he contested three new wills his father executed in 2019. Joseph Safra died in December 2020, leaving his wife and children about $7.3 billion each, according to the Forbes list of the world’s billionaires. .