Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Dutch IPO Unveils Hidden Telecommunications Billionaire

Don't Miss Out —
Follow us on:
Paris, FRANCE: Chairman of the European cable conglomerate Altice, Patrick Drahi, attends a press conference 07 March 2007 in Paris. AFP PHOTO OLIVIER LABAN-MATTEI (Photo credit should read OLIVIER LABAN-MATTEI/AFP/Getty Images)

Feb. 5 (Bloomberg) -- Patrick Drahi, the French and Israeli entrepreneur who founded telecommunications company Altice SA, emerged as one of the world’s 200 richest people last week after mounting Amsterdam’s largest initial public offering since 2006.

Altice, based in Luxembourg, has risen 1.9 percent since the Jan. 31 IPO, valuing Drahi’s 71.4 percent stake at $5.7 billion. He collected about $750 million selling shares in the offering, giving him a net worth of $6.5 billion, according to the Bloomberg Billionaires Index.

“I’m very pleased. I think we were the first IPO of the year, the largest in Europe for a while,” Drahi, 50, said in an interview in Tel Aviv with Bloomberg Television’s Elliott Gotkine. “The market’s not good, but we’re doing fine.”

Drahi controls the stake through Next LP, a holding company based in the Bailiwick of Guernsey, a U.K. crown dependency. Drahi confirmed his stake in Altice and declined to comment on his net worth.

“I don’t have an idea because I try to focus on my work,” he said when asked about his net worth. “For me, what I do is not a question of money, how much it’s worth. It’s more, how many customers, what is my revenue, what is my ebitda, what the market says about it. In terms of my percentage, I don’t think about it.”

To contact the reporter on this story: Devon Pendleton in New York at

To contact the editor responsible for this story: Matthew G. Miller at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.