 |
Curt EngelhornPharmaceutical businessman
Country:
 Germany |
Content:
- Biography of Kurt Engelhorn
- Education and Family Background
- Business Success
- Business Ventures
- Ownership and Control
- Current Business Holdings
Biography of Kurt Engelhorn
Kurt Engelhorn, a 79-year-old businessman, is a citizen of Germany, but resides in Gstaad, Switzerland. With a personal fortune of $6.1 billion, he is a prominent figure in the pharmaceutical industry. He is married and has five children.
Education and Family Background
Engelhorn graduated from the University of Texas at Austin, where he studied Science and Arts, earning a bachelor's degree. He is the grandson of Friedrich Engelhorn, the renowned founder of BASF. After World War II, he pursued studies in chemical engineering in Texas.
Business Success
In May 1997, Engelhorn successfully orchestrated the sale of Boehringer Mannheim and DePuy Roche for a staggering $11 billion. This transaction resulted in a profit of $4.4 billion for him. He currently resides in Switzerland with his fourth wife, Heidemarie. Engelhorn has also made generous donations to the writing house at Texas State University.
Business Ventures
Engelhorn's company, Boehringer Mannheim, is managed by a board of directors consisting of five individuals, including himself. James A. Lent, Gerhard Moller, Anthony Williams, and Michael Drew are the other members of the board. Lent and Williams also serve on the board of the limited liability company DePuy.
Ownership and Control
The shares of Corange, a subsidiary of Boehringer Mannheim, are divided among four branches of the Engelhorn family. Approximately 37.3% of the shares belong to Kurt Engelhorn's family, 22.3% to Christof Engelhorn's family, 22.3% to Peter Engelhorn's family, and 18.0% to Christa Gelpke. Kurt Engelhorn, Christof Engelhorn, and Traudl Engelhorn (Peter Engelhorn's widow) have the right to claim a significant portion of the shares for their respective families. However, there is no agreement among the four families to determine who controls the majority stake, giving each family the opportunity to make claims. Thus far, no shareholder vote has taken place to assign the controlling shares to any particular family.
Current Business Holdings
Today, Kurt Engelhorn owns one of the most prominent pharmaceutical networks, Boehringer Mannheim, as well as a limited liability company called DePuy. He holds a 40% stake in DePuy and has invested an additional $4.4 billion in Hoffman-La Roche.
