Two American billionaire families are using Brexit to build a London property empire
- FirethornTrust, a property investment firm run by two US billionaire families, is looking to invest heavily in London property.
- The firm, run in tandem by two families, the Stephens and the Van Tuyls, is bucking the trend of delayed investments post-Brexit.
- “Brexit in its current status causes uncertainty. The uncertainty causes volatility and the volatility causes opportunity,” Peter Maher, one of the firm’s founders, told Bloomberg.
Uncertainties surrounding Brexit has for the most part slowed the amount of money flowing into the UK —companies 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.
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.
Source read full article: https://markets.businessinsider.com/news/stocks/billionaire-us-families-look-to-brexit-to-build-london-property-empire-2018-11-1027705879