Curt Engelhorn & family’s profile picture

Curt Engelhorn & family

Curt Engelhorn & family’s profile picture
Net worth 2018: $6.2 Billion
Industry: Health care
Country: Germany
BirthDay: 25 May 1926
Sigh: Gemini
Died On: 13/10/2016
Children: 5
Education: Bachelor of Arts / Science, The University of Texas at Austin
BIOGRAPHY

Curt Engelhorn & family was bornon 25 May 1926 in Germany. Curt Engelhorn, a German billionaire, pharmaceutical business leader and the great-grandson of the founder of German chemical company BASF, passed away at age 90 in October 2016. Engelhorn studied chemical engineering in Texas after World War II before taking the helm of a small family business, Boehringer Mannheim. He ran the company for 36 years, expanding its biochemical and pharmaceutical operations while also transforming it into one of the world's leading makers of medical diagnostic tests. In 1997, through a tax-advantaged Bermuda holding company, he initiated the sale of Boehringer Mannheim to Roche for $11 billion. As part of the deal, finalized in 1998, Roche also acquired Boehringer's interest in DePuy, a leading manufacturer of artificial joints and orthopedic products. Engelhorn walked away with an estimated $4.1 billion. His family made news in Germany in early 2016 when it became public that two of his daughters were accused of not having paid taxes on real estate and money they had been given by their father. The family agreed to a deal with German authorities requiring them to repay taxes in the amount of about $150 million and fines of about $5 million. Engelhorn, whose mother was American, is survived by his fourth wife, Heidemarie, and five children. His philanthropic activities included sponsoring disease research and the Heidelberg Center for American Studies at the University of Heidelberg.

NET WORTH STATISTIC
2010

$6.3 Billion

2011

$6.6 Billion

2012

$6.6 Billion

2013

$4 Billion

2014

$4 Billion

2015

$6.2 Billion

2016

$6.2 Billion

2018

$6.2 Billion

TIMELINE
2016

As of January 2016, the family's lawyers conceded capital transfer tax evasions in the amount of Euro 135 million (US $145 million) to the court

2015

As of June 2015, according to Forbes, Engelhorn had a net worth of $6

2013

Since late 2013, there have been ongoing investigations by the German authorities concerning suspected tax frauds between Engelhorn and his daughters, avoiding capital transfer taxes of up to Euro 440 million (US$475 million)

2012

In 2012 it was discovered that an authentic 12th century cloister had been used as a pool decoration in one of Engelhorn's Spanish estates, hidden from the public and the Spanish conservation authorities for more than half a century

2008

In 2008 it was announced that Engelhorn would be donating Euro 400,000 annually over the period of 10 years to support American studies at the Heidelberg Center for American Studies

1997

In 1997 he sold the two firms (in which together he had a 40% stake) to Hoffmann-La Roche for more than $10 billion

1926

Curt Rudolf Glover Engelhorn (25 May 1926 – 13 October 2016) was a German billionaire heir and businessman, the great-grandson of Friedrich Engelhorn, the founder of the chemical company BASF

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