The British billionaire and owner of

The Telegraph

newspapers, Sir David Barclay, died on Sunday after a short illness at the age of 86.

Barclay built a large empire of companies with his brother Frederick.

His death was announced on Tuesday by his own newspaper

The Telegraph


The twin brothers were inseparable from each other and were known in the British media as the Barclay Brothers.

Together they were worth an estimated 7 billion pounds (7.8 billion euros).

Barclay lived a secluded life and seldom showed himself in public.

"Privacy is very valuable. There is no reason for us to talk about our business," he said earlier to a journalist from his own newspaper

The Telegraph


Barclay made his fortune from an early age with transportation and retail companies.

In 1992 he bought the newspaper

The European

together with his brother


In the following years, the Barclay Brothers continued to expand their media empire.

In 2004 they bought The Telegraph Group (now Telegraph Media Group) for over £ 665 million (EUR 744 million).

They thus became direct owners of the newspapers

The Daily Telegraph


The Sunday Telegraph


The Spectator


David and Frederick Barclay were knighted by the British Queen Elizabeth in 2000 and have since held the title of Sir.