(Reuters) – British billionaire and co-owner of the Daily Telegraph, David Barclay, died unexpectedly after a brief illness at age 86, the newspaper said Tuesday night. David and Frederick Barclay, who are twins, bought the Telegraph Media Group property in 2004 after venturing into media ownership in 1992. The twins started their business empire with hotels and grew to include shipping and retail. The brothers ventured into media ownership in 1992 when they bought The European, which was followed by the purchase of The Scotsman in 1995 and Sunday Business in 1997, according to the newspaper. “After these ventures in the publishing field, the brothers had cultivated since the 1980s an ambition to own the Telegraph group,” said The Telegraph. In October 2019, the Barclay family put the Daily and Sunday Telegraph newspapers up for sale while evaluating their multi-billion pound business investments in the UK. Born in London in 1934, the twins dropped out of school at the age of 14.