David Gold’s will has revealed that he left £137m in trust to his family which include his shares in West Ham holding company to dispose of as they see fit.
Through various trusts Gold held 25.1% of the WH Holding shares which should have been valued around £157m based on the £169m Daniel Kretinksy paid for 27% of West Ham in 2021 so the lower valuation in the probate court documents is surprising.
Add to that numerous property investment companies where he is still listed as a director on companies’ house, his pension, his former main residence and land in Caterham valued at £6m with his home currently on sale with Savills for £3.9m
Companies where David Gold was a director or a member until his death include Cumberland House BPRA Property Fund LLP, Waterloo Street BPRA Property Fund LLP, York Place Investments Limited, Greenwich House Properties Limited, GHPH Holdings Limited, Equitable House Ltd, Goddington Manor Limited, Equitable Projects Limited, The Woolwich Coffee Lounge LLP, Waverton Property LLP and Goddington Manor Management Limited.
Gold Group Properties Limited, GCI Holdings Limited, Gold Group International Limited and GCIH Holding Limited where was previously a director and/or shareholder are under a process of liquidation.
The proceeds of from these assets and other shareholdings are also thought to have been includes in his estate.
The last time David Gold and his family appeared in the Sunday Times rich list was 2020 when the family estimated to have net worth of £460m previously being valued at £470m in 2019.
At one point his wealth was widely reported to be in excess of £500m with one estimate of family wealth claimed to be £650m.
David’s surviving daughter Vanessa and current Joint Chairman of West Ham is reported to a have personal net wealth of £81m while her sister Jacqueline who died in March 2023 left £17.6million in her will to her family.
‘In trust’ ? Does that mean that the Gold estate attracts no inheritance tax?
If so, I want some of this trust business to leave behind me when I pass on.
Correct it limits or avoids inheritance tax, but beneficiaries pay capital gains tax or normal income tax on amounts they receive