Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#268 Patrick Drahi $6.24B

Random fact: Proposed to his wife one hour after meeting her.

Overview

Drahi is the chairman and largest shareholder of Altice, a French telecommunications business with services in Europe, Israel, U.S. and the Caribbean. The publicly traded company is based in Amsterdam and had revenue of 20.8 billion euros ($23 billion) in 2016. Drahi collected more than 500 million euros from a 2014 public offering.

As of April 26, 2018:
Last change -$59.3M (-0.9%)
YTD change -$282M (-4.3%)
Industry Media & Telecom
Biggest asset ATC NA Equity
Citizenship France
Age 54
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Patrick Drahi's net worth of $6.24B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Drahi's fortune is derived from Altice, a publicly traded cable TV company he founded in 2002. He controls about half of the Amsterdam-based business through closely held Next LP, which is based in the Bailiwick of Guernsey, a U.K. crown dependency. The company has a dual-class structure, and its "A" and "B" shares are traded separately on Euronext Amsterdam. Drahi's Next LP owns 421.5 million "A" shares and 167.7 million "B" shares, according to an October 2017 filing with the Dutch financial market regulator.

Drahi loaned 81.2 million Altice "A" shares to Goldman Sachs in November 2015 as part of a funded collar transaction, according to a company statement. These shares were added back to the calculation on Aug. 17, 2017 after the expiration of the deal's lock-up agreement, leading to a $2 billion rise in his net worth.

Drahi declined to comment on his net worth calculation.

Biography

Birthdate: 8/20/1963
Family: Married, 4 children
Education: 1986, Ecole Normale Superieure, Master's Degree Ecole Polytechnique, Graduated

Patrick Drahi was born on Aug. 20, 1963, in Casablanca, Morocco. When he was 15 years old, he moved with his math teacher parents to southern France. A naturally gifted math student, he graduated from France's selective engineering school, Ecole Polytechnique, then went on to earn a post-graduate degree in optics and electronics from Ecole Nationale Superieure de Telecommuncations de Paris in 1986.

Drahi's first job after graduating was as head of international marketing for a Dutch satellite and cable company, Philips Group. His dream as a young student was to one day become CEO of a global company. While at Philips, he realized that the dream could take more than 30 years to materialize if he continued along that career path. So he left the company in 1993, and with the help of a friend, Pascal Orhan, set up CMA, a consulting firm specializing in telecommunications and media. While doing so, he also founded two French cable companies, Sud Cable Services and Mediareseaux.

By 2002, he'd sold both the cable companies and decided to start his own investment holding group, which he called Altice. Focused on cable, telecom and internet assets, Drahi acquired stakes in companies from Belgium to Mauritius, including Israeli cable TV provider, Hot Telecommunication System, Portuguese cable company, Cabovisao, and Odo, the Dominican Republic's second-largest mobile operator. Along with private equity groups, Carlyle and Cinven, he helped create France's largest cable operator, Numbericable, which was listed in Paris in November 2013.

Altice raised more than $1.8 billion in an initial public offering on the Amsterdam stock exchange in January 2014. In an interview with Bloomberg Television, Drahi said the aim of the offering was to boost Altice's recognition globally, as it seeks more acquisitions.

The billionaire, who has both French and Israeli citizenship, is married with four children and lives in Geneva, Switzerland.

Milestones
  • 1986 Graduates from Ecole Polytechnique in Paris.
  • 1988 Begins professional career with the Philips Group in Amsterdam.
  • 1993 With friend, Pascal Orhan, founds telecom consulting firm, CMA.
  • 1994 Founds French cable company, Mediareseaux.
  • 1999 Sells Mediareseaux to Dutch company, UPC, for undisclosed price.
  • 2002 Establishes Altice as an investment vehicle for cable and telecom assets.
  • 2014 Sells shares of Altice on Amsterdam stock exchange.
  • 2015 Altice enters U.S. market, buying Cablevision for $17.7 billion.