Bloomberg Billionaires Index

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# Gerald Grosvenor

Random fact: Began planning a residential project in Shanghai in 2014.

Overview

Grosvenor controlled London-based real estate firm Grosvenor Group that had assets under management of 13 billion pounds ($19 billion) in 2015. The billionaire inherited land his family has owned since 1677, including 300 acres in London's Belgravia and Mayfair neighborhoods. He died on Aug. 9, 2016.

As of Sept. 22, 2017:
Last change ()
YTD change ()
Industry Real Estate
Biggest asset N/A
Citizenship United Kingdom
Age 64
Wealth Inherited
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Relative Value

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Net Worth Summary

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Biography

Birthdate: 12/22/1951
Family: Married, 4 children
Education: Harrow School

Gerald Cavendish Grosvenor, known as the Duke of Westminster, was born in Northern Ireland in 1951, and spent his childhood in the rural Irish countryside before attending boarding school in London. After graduating, he joined the British Territorial Army -- which included a period of training at Royal Military Academy Sandhurst -- and traveled, working on ranches in Canada and New Zealand.

He was involved with the British military his whole life, serving as head of the Reserve Forces until he retired in September 2012, and as an honorary colonel in the Territorial Army. He eventually returned to Britain, working at a central London real estate agency to understand better the property market. When his father, Robert, fell ill in the mid-1970s, Grosvenor took over as non-executive chairman of the Grosvenor Estate. He inherited the title of Duke of Westminster from his father, who had received it after his older brother died in 1967 without any male heirs.

As Duke, Westminster was chairman of the trustees of the Grosvenor Estate, the portfolio of properties and businesses that's been in his family for centuries, originating with the 500 acres of London land Sir Thomas Grosvenor came into when he married heiress Mary Davies in 1677. Through multiple generations, the family's assets grew to include prime London commercial property, five rural estates in England, Scotland, Wales and Spain, an insurance company, a hotel and an international property development, investment and fund management business, Grosvenor Group.

The Duke struggled with anxiety and depression. In 1999 he said he "hit the buffers" due to stress and a rigorous public schedule, and took three months to "get back on track." He married Natalia Ayesha Phillips, a descendant of the Russian author Pushkin, in 1978. He died on Aug. 9, 2016 after a sudden illness.

Milestones
  • 1951 Gerald Cavendish Grosvenor is born in Omagh, Northern Ireland.
  • 1979 Inherits dukedom after the death of his father, a politician.
  • 1999 Scales back public attendances after struggling with anxiety and stress.
  • 2004 Grosvenor Group opens office in Shanghai, its first in mainland China.
  • 2005 Grosvenor Group establishes a real estate fund management arm.
  • 2005 Elected first chancellor of the University of Chester in northwest England.
  • 2012 Resigns as head of the U.K.'s Reserve Forces to focus on other projects.
  • 2016 Dies after a sudden illness.