The Weston Family, whose empire spans from Canada to Ireland and beyond, has amassed a $14.5 billion pound net worth through snapping up businesses in everything from baked goods to luxury apparel.
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The “Old Money” British Family That Owns Half Of London (NOT The Windsors): [ Ссылка ]
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“Old Money” To Royalty: Princess Diana & The Spencer-Churchill Family: [ Ссылка ]
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TIMESTAMPS:
0:00 Introduction
0:57 Chapter 1: Wealth of The Westons
4:08 Chapter 2: George “Winning” Weston
9:02 Chapter 3: The Life of W. Garfield Weston
14:18 Chapter 4: The 3rd Generation
18:13 Chapter 5: The Transatlantic Empire
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Wealth. Riches. Money. Such words do not properly encapsulate the sheer wealth the Weston family possesses.
With a combined net worth of fourteen and a half billion pounds (just over eighteen billion dollars), they place seventh on the United Kingdom’s Sunday Times Rich List.
The Westons are the third wealthiest family in Canada and were the richest family in Ireland until 2018.
The beating heart of their wealth is their stake in Associated British Foods (ABF), owning major subsidiaries like Primark, British Sugar, and Twinings.
As of 2024, ABF is worth nearly twenty billion dollars, with the Weston family holding a fifty-six-point-two percent share.
However, the Westons are not just invested in tea bags and t-shirts; they have an illustrious real estate portfolio.
Their purchase of Canada’s Real Estate Investment Trust in 2018 expanded their portfolio to over seven hundred fifty-two properties, primarily grocery stores, in Canadian cities.
Moreover, the family owns Fortnum and Mason, a luxury department store in London, acquired fully in 2001.
This luxury store adds around forty-nine million pounds (sixty-two million dollars) to the Weston’s net worth, enhancing their "old money” status.
But how did a family acquire such immense wealth?
We must travel back to nineteenth-century New York. George Weston, born on March 23, 1864, in New York, moved with his family to Toronto.
Faced with financial hardship, George left school at twelve to work in a local bakery.
He learned the trade under baker Charles J. Frogley and eventually established George Weston Limited in 1882.
By 1884, Weston purchased the bakery where he once worked, marking a turning point.
He expanded into wholesale bread distribution, meeting the growing demand for ready-made bread in Toronto.
In 1897, he moved to a larger facility, the “Model Bakery,” capable of producing over three thousand loaves daily.
George’s entrepreneurial spirit continued, and by the early 1900s, he expanded to 120 cities daily, also venturing into the biscuit market. George Weston passed away in 1924, leaving an empire for his descendants.
His son, Garfield Weston, born in 1898, took over in 1924. Garfield expanded aggressively, acquiring thirty bakeries in Britain by 1939 and entering the U.S. market.
He also diversified into retail, launching ‘Fine Fare,’ later renamed ‘Associated British Foods.’
Galen Weston, born in 1940, continued the expansion.
Moving to Ireland in the 1960s, he acquired grocery stores and the department store Penneys, known as Primark outside Ireland. Galen’s expansion continued in Canada and the U.S., including acquiring Selfridges in 2003.
The fourth generation of Westons, including George G. Weston and Galen Weston Junior, has faced challenges like tax avoidance schemes and wage controversies.
Alannah Weston boosted the family legacy through her work with Selfridges, emphasizing sustainability and achieving significant sales growth.
Ultimately, the Weston legacy is one of unprecedented financial abundance. Through four generations, the family has gone from rags to riches and remains one of the wealthiest dynasties.
