Seven Cancer Drug Billionaires Unmasked as Roche Surges
“The dozen billionaires, who are drawn from the Engelhorn family of Germany and Switzerland’s Hoffmann-Oeri clan, have a combined fortune valued at more than $35 billion, according to the Bloomberg Billionaires Index.
Eight of the medicine moguls are great-grandchildren of Roche founder Fritz Hoffmann-La Roche, who created cough-syrup maker F. Hoffmann-La Roche & Co. in 1896. Hoffmann’s heirs control at least half of Roche’s voting rights and a 9.3 percent economic interest in the company, according to the company’s annual report.
“The family avoids the spotlight,” Martin Voegtli, a Zurich-based analyst with Kepler Capital Markets SA, said by phone. “On the operational side of things their involvement is limited, although they are fully committed to the business.”
The hidden Hoffmann billionaires — Sabine Duschmale-Oeri, Andreas Oeri, Catherine Oeri, Beatrice Oeri, Andre Hoffmann, Vera Michalski-Hoffmann and Maja Hoffmann — have avoided being identified by holding their Roche stakes in a voting pool created in 1948 to maximize the family’s control over the publicly traded company.
Roche generated $48.5 billion in sales in 2012. Its shares rose 0.4 percent to 209.90 Swiss francs at 3 p.m. in Zurich, and are up 14 percent year-to-date. “
Source: Bloomberg Tom Metcalf & David de Jong
The Heirs of Europe
This blog presents the ancestors of the heirs of the leading families of Europe. These overviews represent the changing character of these families regarding marriage policy and show on one hand the close connections between those families but on the other hand the ability to absorb new influences while maintaining continuity. The texts are mainly in Dutch, later I will change it to English, but I think the information is clear enough. © Ronald Elward 2009-2012