Monday, June 13, 2005

Chicago Tribune news : Business-Inside the Pritzker family feud

Chicago Tribune news : Business: "Inside the Pritzker family feud
Since the 1999 death of the revered Jay Pritzker, tensions have quietly roiled Chicago's wealthiest family. Here is a look behind the scenes.

By Susan Chandler and Kathy Bergen
Tribune staff reporters
Published June 12, 2005

When it comes to private families, they don't come much more private than the Pritzkers.

Members of Chicago's wealthy Pritzker clan hold their vast $15 billion empire in trust funds, many of them overseas. They employ lawyers who fight to keep family legal matters inside sealed courtrooms away from the public. And they shun almost all requests for interviews.

So when two young Pritzker heirs filed suit alleging that some family members had looted their trust funds of $1 billion, the family shuddered. The suit was settled this year, allowing the family to proceed with a secret agreement to divvy up the $15 billion fortune that includes the Hyatt hotel chain and interests as different as cruise lines and tobacco."

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