Sir David Barclay half of billionaire Barclay brother duo has died aged 86.
Barclay, who co-owned the Telegraph media group alongside his twin Frederick, is said to have died of a short illness. He began his career in the real estate sector when he opened an estate agents with his brother in the 1960s.
The brothers first began buying hotel properties in the mid-seventies after they purchased the Howard Hotel, overlooking the Thames at Temple Place. Later on in their career the pair bought the Ritz Hotel in London.
However in May 2020 the brothers sold the landmark venue for half its market value after the family became caught up in a ‘bugging scandal’ in which Sir Frederick’s private conversations were secretly recorded by his twin brother’s sons at the hotel.
At the time the hotel was acquired by Qatari Investors in March for an undisclosed sum.
Boris Johnson has been one of the many mourners to pay respects to the business owner , a Twitter statement from the PM said: “Farewell with respect and admiration to Sir David Barclay who rescued a great newspaper, created many thousands of jobs across the UK and who believed passionately in the independence of this country and what it could achieve.”