Citigroup cuts copper forecast on tariffs risk, China outlook
The bank has cut its short-term outlook for copper prices by 11% to $8,500 a ton over the next three months.
Settlement negotiations are under way to divide up the $300 million estate of American heiress Huguette Clark, one of the so-called “Copper Kings” youngest daughter.
Clark’s father was former US Sen. William Andrews Clark, one of the copper magnates of Montana, a banker, a builder of railroads and the founder of Las Vegas.
NBC Investigations reports the reclusive heiress specifically stated in her will that she didn’t want any part of her copper fortune to go to far-flung relatives she hardly knew. However, 19 have challenged the will in court.
Clark, who died in 2011 at 104, lived a reclusive life after 1930 and her activities were virtually unknown to the public. Upon her death, she left behind a vast fortune, including the sold jewels, most of which was donated to charity. Substantial sums were also left to her long-time nurse, her goddaughter, some employees and her attorney.
RELATED: Expected heir to $300 million copper fortune found dead
According to papers seen by the New York Post, the heiress was “mumbling incoherently” and “unable to hold the pen” when she signed her $300 million fortune away to her employees.
The disclosure of those documents triggered a battle over her fortune, likely to settle before the trial scheduled to begin September 17.
Image courtesy of WWD
