Iraqi-British Architect Zaha Hadid’s fortune and will have been finally revealed. The highly acclaimed architect died in March, last year, at the age of 65, after a heart attack, with no husband or children. Her lately announced will disclose estate worth £70,784,564, and since she was indebted by a sum of £3 million at the time of her death, the net value of her estate is reduced to £67,249,458. The announced fortune includes all the assets of the late architect in the UK. The assets include her Studio Zaha Hadid Architects, her other companies, and her own penthouse apartment in Clerkenwell, Central London.
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Hadid’s £67 million will go to her business partner, family members, and other parties. A lump-sum of £500,000 is to be given to current ZHA principal Patrik Schumacher, making him the only ZHA office holder named in the will. Also, five of her relatives were granted a sum of £1.7 million. Her brother Haitham Hadid gets a share of £500,000, while the rest is distributed among 4 nieces and nephews, with £500,000 each to Rana and Hussein and £100,000 each to Tala and Nik Williams. As for the rest of her fortune, Hadid named 4 executors who shall be responsible for distributing her wealth among parties which include “past, current and future employees and office holders of her various companies, architecture and educational charity the Zaha Hadid Foundation,” and other charities, “in the best interests of beneficiaries.” The 4 named executors are her business partner Patrik Schumacher, her niece Rana Hadid, artist Brian Clarke, and property developer Peter Palumbo who was her client and a juror in the 2004 Pritzker Prize which Hadid has won. The executors are also given the right to add more beneficiaries to the will, however, if they do not agree or the process takes longer than 125 years, then all the money goes to Zaha Hadid Foundation, which was also entrusted to the executors.
Zaha Hadid and Patrik Schumacher. Photography Ben Pruchnie/Getty Images Europe
Hadid’s announced will is assumed to have been accompanied by a “letter of wishes”, explaining the details of how she would like the executors to deal with her estate. The “non-legally binding” letter though shall be a private document, not to be publicized.
News via the Guardian