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Family and business partner to inherit Zaha Hadid's $120-million fortune

(Famed architect Zaha Hadid, who died in March last year, left money to her relatives and business partner.)

 

Following her sudden passing on 31st March, 2016, famed starchitect Zaha Hadid left her $120-million fortune to her family and business partner. 

Details of celebrated British-Iraqi architect Zaha Hadid's £70-million (S$120.6- million) estate have been revealed in her will, in which she left sums of money to her relatives and business partner.

She left assets worth more than £70.8 million when she died of a heart attack in Miami in March last year, aged 65, according to her will and grant of probate obtained by British magazine The Architects' Journal.

After accounting for unpaid debts, her estate was worth more than £67 million.

German architect Patrik Schumacher, who now runs her practice, Zaha Hadid Architects, in London, will receive £500,000. He is the only non-family beneficiary named in her will.

Hadid, who designed buildings such as the London Aquatics Centre and Guangzhou Opera House, was unmarried and had no children.

She also remembered her nieces, nephews and other family members in her will.

Most of her wealth was held in her international design businesses, which she left in trust, reported The Guardian.

Zaha Hadid Architects, which she fully owned, turned over £48 million in the year ended April 2015. Her holdings also include her private wealth, including a penthouse in Clerkenwell, central London.

Mr Schumacher was named as an executor of her will, along with her niece Rana Hadid and two friends - artist Brian Clarke and property developer and former Serpentine Gallery chairman Peter Palumbo.

The four, who are also the trustees of the Zaha Hadid Foundation charity, have 125 years from the date of her death to distribute her estate.

According to The Architect's Journal, Lord Palumbo was a client of Hadid's and jury chairman of the 2004 Pritzker Prize, which Hadid won - she was the first woman to do so.

 

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Article originally appeared in The Straits Times

 

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