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James Dyson's firm moves 1.3 billion pounds to his family office

Bloomberg10/29/2021 05:53 PM GMT+08  • 3 min read
James Dyson's firm moves 1.3 billion pounds to his family office
The Dyson family is, in effect, diversifying its interests
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James Dyson’s technology firm has transferred 1.3 billion pounds (US$1.8 billion / $2.4 billion) to his family office since last year, accelerating the shift of his fortune away from his biggest asset.

Dyson Holdings paid Weybourne Holdings a dividend of 400 million pounds for 2020, the biggest annual cash payout for the British billionaire’s family office, according to registry filings. During the period, Weybourne also received 200 million pounds from the closely held maker of bagless vacuum cleaners and an additional 700 million pounds in January through share capital transfers.

“The family is, in effect, diversifying its interests,” said Richard Murphy, professor of accounting practice at Sheffield University Management School.

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