Daily Telegraph co-owner Sir David Barclay is reportedly dead. He was 86.
In 2004, after a business career in hospitality, shipping and retail, Sir David, with his identical twin, Sir Frederick, took control of the Telegraph Publishing Company.
According to the new Sunday Times Rich List, it made them a fortune valued at £7bn.
His death was announced overnight by The Daily Telegraph, but it said he died on Sunday.
On Twitter, Boris Johnson, whose earlier career involved a spell as a journalist, wrote: “Farewell with respect and admiration to Sir David Barclay who rescued a great newspaper, created many thousands of jobs around the UK and who invested passionately in this country’s democracy and what it could do.”
Following an auction process, after a US court declined a private deal with its then Canadian owner, Conrad Black’s Hollinger Group, in 2003, the pair acquired The Daily Telegraph for £ 665m.