Bloomberg Billionaires Index

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

#487 Traudl Engelhorn-Vechiatto $3.95B

Random fact: Foundation donates to academic research in the life sciences field.

Overview

Traudl Engelhorn-Vechiatto is the widow of Peter Engelhorn. She sold his 22.3 percent of family holding company Corange to Basel, Switzerland-based Roche Holding, the world's largest biotechnology company, for about $2.3 billion in 1998. Corange owned German diagnostics manufacturer Boehringer Mannheim.

As of July 26, 2017:
Last change No change
YTD change +$100M (+2.6%)
Industry Diversified
Biggest asset Cash
Citizenship Switzerland
Age 0
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Traudl Engelhorn-Vechiatto's net worth of $3.95B 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:

Engelhorn-Vechiatto's fortune came from her late husband, Peter Engelhorn, who died in 1991. The Engelhorn family sold its pharmaceutical interests for $10.2 billion to Roche Holdings, the world's largest biotechnology company according to its website, in 1998.

She controlled Peter Engelhorn's 22.3 percent stake in Corange, the family's Bermuda-based holding company at the time of the sale. The entity owned all of German diagnostics manufacturer Boehringer Mannheim and 84 percent of orthopedics maker DePuy, according to documents filed with the U.S. Securities and Exchange Commission. The proceeds of the sale -- valued at almost $2.3 billion at the time of the transaction -- are held through March, a separate Bermuda-based holding company.

The value of her cash investments is based on an analysis of taxes and market performance.

Herwig Brunner, a spokesman for the Weilheim, Germany-based Peter und Traudl Engelhorn-Stiftung, said the net worth calculation was “too high,” without commenting further.

Biography

Birthdate:
Family: Widowed, 4 children

Friedrich Engelhorn co-founded chemical company BASF, the world's biggest chemical company, in 1865, and acquired medical business Boehringer & Soehne 18 years later. In 1974, Boehringer Mannheim -- which had been led by Friedrich's grandson Curt Engelhorn since 1960 -- bought Indianapolis-based Bio-Dynamics, which owned DePuy, a maker of orthopedic instruments.

Curt Engelhorn formed Bermuda-based holding company Corange in 1985, and placed 84 percent of DePuy and all of Boehringer into the new entity. Swiss pharmaceutical conglomerate Roche Holdings bought Corange for $10.2 billion in cash in 1998.

Curt's cousin, Peter Engelhorn, who died in 1991, held a 22.3 percent stake, which passed to his wife, Traudl. The mother of four oversees her investments through another Bermuda-based holding company, March.

Milestones
  • 1865 Friedrich Engelhorn co-founds chemical company BASF.
  • 1873 BASF opens first U.S. office in New York City.
  • 1985 Engelhorn family holding company Corange established in Bermuda.
  • 1990 San Francisco biotech firm Genentech sells majority stake to Roche.
  • 1991 Peter Engelhorn dies; survived by wife Traudl and four daughters.
  • 1993 Establishes foundation, Peter und Traudl Engelhorn Stiftung.
  • 1997 Roche agrees to buy Corange, Boehringer and DePuy holding company.
  • 1998 Traudl sells stake in Boehringer and DePuy to Roche for $2.3 billion.
  • 2000 Roche buys 44 percent of biotech firm Genentech for $46.8 billion.