Date: 2024-12-26 Page is: DBtxt003.php txt00025329
WEALTH
THE GROSVENOR FAMILY
Old Money Luxury: The “Old Money” British Family That Owns Half Of London (NOT The Windsors)
THE GROSVENOR FAMILY
Old Money Luxury: The “Old Money” British Family That Owns Half Of London (NOT The Windsors)
Original article: https://www.youtube.com/watch?v=w-qh_cjKxaw
Peter Burgess COMMENTARY
Peter Burgess
Imagine, for a moment, you are a tourist in London - the seemingly endless metropolis resonant with a vivacious pulse and twinkling city lights - where ancient stone streets whisper tales of yesterday and modern skyscrapers soar into the vast, cerulean skyline.
Indeed, on your journey to our sumptuous capital, you’ll likely find yourself strolling by iconic landmarks - such as the stately Buckingham Palace, the majestic Tower of London, or the illuminated London Eye, all images that immortalize the city's indomitable spirit.
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TIMESTAMPS
- 0:00 Introduction
- 1:34 1. In Power Since The Kingdom Was United
- 4:24 2. The Making of A Modern Dynasty
- 8:38 3. The Controversies of The Grosvenor Empire
- 11:13 4. The Modern Grosvenors
His ceaseless, wolf-like tenacity in shielding Cheshire from the Welsh invaders won him the coveted lands in the highly consequential year of 1066.
Known endearingly as “Fat Hugh,” his merry crest showcased a laughing dog - an emblem which would soon yield another immense tie in Grosvenor Family lore to British History - as this ancestor’s crest became the muse for Lewis Carroll’s unforgettable Cheshire Cat in ‘Alice In Wonderland.’
Now, the first “modern” Grosvenor - Hugh Lupus, the first Duke of Westminster - was a titan of Victorian society, acclaimed not only as a formidable landowner and astute politician but also as an ardent racehorse aficionado.
His substantial influence over London's wealthiest neighborhoods began unfolding in the mid eighteen hundreds.
You see, through strategic investment and visionary leadership, the Duke had capitalized on the shifting dynamics of the late 19th-century economy.
Many aristocratic families struggled to adapt to the decline of the agricultural economy. However, the Grosvenors, through a fortunate turn of events, found themselves at the heart of London's rapid urban expansion.
As the Duke poured his substantial fortune into further development, under his shrewd guidance, the transformation of one of London's most exclusive districts, Belgravia, began.
However, the lustrous history of the Grosvenor lineage - like many 'Old Money' families - is not devoid of shadows.
Behind the opulence and majesty, elements of controversy often lurk - tainting the family's well-polished image.
In the late 2000s, a scandal of a distinctly dissolute nature embroiled Gerald Cavendish Grosvenor, the 6th Duke of Westminster.
Come 2008, media outlets were abuzz with stories associating him with the notorious Emperors Club VIP - a high-end call-girl ring at the heart of New York Governor Eliot Spitzer's downfall.
Reports insinuated that despite the vast Grosvenor fortune, the Duke was uncharacteristically tight-fisted - choosing to bargain with an Emperors Club girl over their liaison's cost.
Now - navigating the 21st century - the Grosvenor family maintains a commanding and influential presence, their wealth predominantly rooted in their enormous land and property assets.
Within London, the family's ownership comprises half of Mayfair - encompassing freeholds of the American embassy, the Beaumont Hotel, and the Gagosian Gallery - along with 300 acres of Belgravia.
Several other properties within the area include The Biscuit Factory in Bermondsey, St Mark's in Mayfair, and Eaton Square in Belgravia.
Their holdings also extend to the Eaton Estate in Cheshire, the Abbeystead Estate in Lancashire, and additional estates in Scotland and Spain.
Indeed, the family's property enterprise - the Grosvenor Group - remains a driving force in urban property development and investment across many of the world's premier cities.
They showcase considerable expertise in handling listed buildings and developing new properties - often investing in community-oriented features like sports facilities and shopping centers. Internationally, their holdings comprise notable assets in various locations.