Architectural genius Zaha Hadid left £70 million fortune

 

LONDON: British-Iraqi architect Zaha Hadid’s will has revealed details of her multi-million-pound estate, of which former business partner Patric Schumacher is the only non-family beneficiary.

Hadid, who was made a dame in 2012, was unmarried with no children and left behind holdings worth over £70.8 million according to her will when she died in a Miami hospital at the age of 65.

The designer famous for London Olympics aquatics centre, Guangzhou opera house and dozens of other buildings around the world left her companies and the vast majority of her fortune in trust, with her four executors charged with distributing cash to beneficiaries including her family, charitable foundation and architectural firms.

Hadid also had more than £3 million of debt at the time of her death, which reduced the figure of her wealth to £67.2 million.

Schumacher was left a gift of £500,000 and named as an executor of Hadid’s will, alongside her niece Rana Hadid, artist Brian Clarke and property developer and former Serpentine Gallery chairman, Peter Palumbo.

The four executors, who are also the trustees of charity the Zaha Hadid Foundation, were given 125 years from the date of Hadid’s death to distribute her estate.

If the executors fail to agree on how the wealth should be distributed within the allotted term, the sum will be given to the Zaha Hadid Foundation.

In her will, Hadid also left three further sums of £500,000 and two of £100,000 to family members. Other beneficiaries of her will are charities including the Zaha Hadid Foundation, her companies and other family members.