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THE AGENDA Editor’s Letter Edwin Smith There will come a time when this magazine ceases to make reference to Succession. But not yet. One reason is that the show – which wrapped up its fourth and final season last year – is a peerless piece of long-form television, the principal art form of these modern times. Another is that it elucidates and explores the dynamics that dictate the workings of the world with which Spear’s concerns itself. A third is that creator Jesse Armstrong puts one of the great drivers of human behaviour through the ages at its core. Just ask Bernard Arnault. The richest man in the world sits atop the LVMH empire with the world of luxury goods at his feet. But, as he turns 75, he knows that someone must succeed him. But who? That is the question that John Arlidge seeks to answer in his story on page 44. The accompanying artwork by Diego Abreu, inspired by an advert for Succession, adorns our cover. legal action – against Sotheby’s, whose representatives worked with Bouvier – was unsuccessful, he seemed to have run out of road. But how did we get here? Read Ben’s piece to find out. Meanwhile, Spear’s staffer Aisha Alli reports back from Necker Island (p62), where she and Richard Branson Profile The oligarch who lost a billion in the art market Travel Your invitation to Necker Island Plus Martin Brudnizki Dame Sarah Connolly Q2, 2024 £5.95 shared a hot tub and a conversation about the glamorous history of his private island. And I offer my account of a SUCCESSION AT THE HOUSE OF ARNAULT WHO WILL WEAR THE CROWN? 15/03/2024 13:12 15/03/2024 13:12 trip to Dubai, during which I spent some time with the man in charge of one of the Middle East’s most ambitious property developers, Binghatti (p76). Muhammad BinGhatti has supercharged his family business through partnerships with three of the world’s most prestigious luxury brands to build ‘hypertowers’ that will house branded residences. He described the thinking behind his plan, and how he is riding a wave that has helped Dubai property prices increase by a scarcely believable 225 per cent since the third quarter of 2020. There’s intrigue and exclusivity elsewhere, of course. On page 52 author and film-maker Ben Lewis profiles Dmitry Rybolovlev. The oligarch’s life was an extraordinary story even before he and Swiss art dealer Yves Bouvier became embroiled in a tussle after Rybolovlev claimed he had been duped out of more than $1 billion. When Rybolovlev’s latest While I was there I was the first journalist to stay at the new Lana hotel, which is the first effort from the Dorchester Collection in the Middle East. My review is on page 80. Our Briefing section (p33) this time focuses on wealth management and investing. We have stories on the implications of the new ‘consumer duty’ requirements for UK providers, the return of the masters of the universe (that’s hedge fund managers, of course), and the impact of ARC since it began compiling its private client portfolio indices 20 years ago. The Arcadia pages (p69) are as varied as ever, with regulars Daisy Dunn and Sam Leith on how the ancients inform our understanding of watch thefts and the mooted takeover of the Telegraph, respectively. Caroline Phillips minds her Ps and Qs with an etiquette coach from America (!) and Ed Cumming savours a £700 cut of beef – all in the name of journalism, you understand. The section also includes Spear’s stalwart Nick Foulkes on the passing of his friend, Princess Ira von Fürstenberg. We also have three utterly stellar interviewees – Dame Sarah Connolly (p106), Rory Stewart (p16) and designer to the starriest establishments Martin Brudnizki (p24) – as well as a photo-led feature from the first ever E1 powerboat race weekend (p98), a behind-the-scenes look at the making of an extraordinary piece of jewellery (p94), a spin in the latest Lotus (p90) and, I must admit, yet another story that mentions Succession. But Timothy Barber’s tour de force of the 23-year history of Richard Mille (p82) has only a fleeting mention of Kendall Roy, instead focusing on the extraordinary engineering and avant-garde aesthetic that has created a modern legend of watchmaking in double-quick time. I hope you enjoy the magazine. SUBSCRIBE to Spear’sSpear’s — receive every issue of Spear’sSpear’s magazine for only £18 (UK) a year Web: spearswms.com/subscribe Call: +44 (0)845 073 9607 Email: subscriptions@spearswms.com
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THE AGENDA

Editor’s Letter

Edwin Smith

There will come a time when this magazine ceases to make reference to Succession. But not yet. One reason is that the show – which wrapped up its fourth and final season last year – is a peerless piece of long-form television, the principal art form of these modern times. Another is that it elucidates and explores the dynamics that dictate the workings of the world with which Spear’s concerns itself. A third is that creator Jesse Armstrong puts one of the great drivers of human behaviour through the ages at its core.

Just ask Bernard Arnault. The richest man in the world sits atop the LVMH empire with the world of luxury goods at his feet. But, as he turns 75, he knows that someone must succeed him. But who? That is the question that John Arlidge seeks to answer in his story on page 44. The accompanying artwork by Diego Abreu, inspired by an advert for Succession, adorns our cover.

legal action – against Sotheby’s, whose representatives worked with Bouvier – was unsuccessful, he seemed to have run out of road. But how did we get here? Read Ben’s piece to find out.

Meanwhile, Spear’s staffer Aisha Alli reports back from Necker Island (p62), where she and Richard Branson

Profile

The oligarch who lost a billion in the art market

Travel

Your invitation to Necker Island

Plus

Martin Brudnizki Dame Sarah Connolly

Q2, 2024 £5.95

shared a hot tub and a conversation about the glamorous history of his private island. And I offer my account of a

SUCCESSION AT THE HOUSE OF ARNAULT

WHO WILL WEAR THE CROWN?

15/03/2024 13:12 15/03/2024 13:12

trip to Dubai, during which I spent some time with the man in charge of one of the Middle East’s most ambitious property developers, Binghatti (p76). Muhammad BinGhatti has supercharged his family business through partnerships with three of the world’s most prestigious luxury brands to build ‘hypertowers’ that will house branded residences. He described the thinking behind his plan, and how he is riding a wave that has helped Dubai property prices increase by a scarcely believable 225 per cent since the third quarter of 2020.

There’s intrigue and exclusivity elsewhere, of course. On page 52 author and film-maker Ben Lewis profiles Dmitry Rybolovlev. The oligarch’s life was an extraordinary story even before he and Swiss art dealer Yves Bouvier became embroiled in a tussle after Rybolovlev claimed he had been duped out of more than $1 billion. When Rybolovlev’s latest

While I was there I was the first journalist to stay at the new Lana hotel, which is the first effort from the Dorchester Collection in the Middle East. My review is on page 80.

Our Briefing section (p33) this time focuses on wealth management and investing. We have stories on the implications of the new ‘consumer duty’ requirements for UK providers, the return of the masters of the universe (that’s hedge fund managers, of course), and the impact of ARC since it began compiling its private client portfolio indices 20 years ago.

The Arcadia pages (p69) are as varied as ever, with regulars Daisy Dunn and Sam Leith on how the ancients inform our understanding of watch thefts and the mooted takeover of the Telegraph, respectively. Caroline Phillips minds her Ps and Qs with an etiquette coach from America (!) and Ed Cumming savours a £700 cut of beef – all in the name of journalism, you understand. The section also includes Spear’s stalwart Nick Foulkes on the passing of his friend, Princess Ira von Fürstenberg.

We also have three utterly stellar interviewees – Dame Sarah Connolly (p106), Rory Stewart (p16) and designer to the starriest establishments Martin Brudnizki (p24) – as well as a photo-led feature from the first ever E1 powerboat race weekend (p98), a behind-the-scenes look at the making of an extraordinary piece of jewellery (p94), a spin in the latest Lotus (p90) and, I must admit, yet another story that mentions Succession. But Timothy Barber’s tour de force of the 23-year history of Richard Mille (p82) has only a fleeting mention of Kendall Roy, instead focusing on the extraordinary engineering and avant-garde aesthetic that has created a modern legend of watchmaking in double-quick time.

I hope you enjoy the magazine.

SUBSCRIBE to Spear’sSpear’s — receive every issue of Spear’sSpear’s magazine for only £18 (UK) a year Web: spearswms.com/subscribe Call: +44 (0)845 073 9607 Email: subscriptions@spearswms.com

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