Patrick Drahi’s profile picture

Patrick Drahi

Patrick Drahi’s profile picture
Net worth 2018: $7.11 Billion
Industry: Telecom
Residence: Zermatt, Switzerland
Country: France
BirthDay: 1963
Children: 4
BIOGRAPHY

Patrick Drahi was bornon 1963 in Zermatt, Switzerland, France. Patrick Drahi is #233 in List Billionaires People In The World. Patrick Drahi holds nearly 60% of the stock of Altice, the multinational telecommunications company he founded. Following a buy-low, sell high mantra Drahi built Altice around 20 acquisitions of lagging cable and mobile operators, often at knockdown prices in places such as France, Belgium, Israel, Portugal, and the Dominican Republic. Through the Amsterdam-based Altice he owns 75% of Numericable, France's largest cable operator. In 2015 Altice took its first step into the U.S. by purchasing a 70% stake in cable operator Suddenlink in a $9 billion deal. Drahi, the son of two math teachers, was born in Casablanca, Morocco and emigrated to France as a teenager. He holds an engineering degree from the prestigious Parisian university École Polytechnique and lives in Switzerland with his wife and children.

NET WORTH STATISTIC
2014

$6.3 Billion

2015

$16 Billion

2016

$5.9 Billion

2017

$13 Billion

2018

$7.11 Billion

TIMELINE
Patrick Drahi (Hebrew: פטריק דרהי‎; born 1963) is a Moroccan-born businessman with French, Portuguese and Israeli citizenship, living in Switzerland since 1999. He is the founder and controlling shareholder of the Netherlands-based telecom group Altice listed on the Euronext Amsterdam stock exchange.Patrick Drahi was born in Casablanca, to a Moroccan Jewish family. When he was 15 years old, the family moved to Montpellier, France. His parents are both math teachers. Drahi has an engineering degree from the École Polytechnique university in Paris (a post-graduate degree in optics and electronics). He is married and lives in Geneva, Switzerland, with his Syrian-Greek Orthodox wife; they have four children.In 2013, Drahi founded the international news channel i24news. This channel is based in Israel, and broadcasts in French, Arabic, and English.Drahi later became the owner of French cable operator Numericable. Drahi bought SFR, France seconde mobile phone and internet provider in France in 2013 from media conglomerate Vivendi.Drahi and his group Altice entered the American telecommunications market in 2015 by purchasing a 70 per cent stake in Suddenlink Communications, the seventh largest cable company in the US. Suddenlink is valued at $9.1 billion. In 2015, Drahi bought Cablevision from the Dolan family, renaming it Altice USA with its flagship brand Optimum being the fifth largest cable operator in the USA. Drahi owns the Israeli cable television company HOT.As of November 2015 Forbes estimated Drahi's net worth at $10.3 billion. Forbes ranks him as the 60th richest person in the world, the third richest person in France. He was ranked as the richest person in Israel, until 2016, when he came in 2nd.The leaking of the Panama Papers in April 2016 confirmed publicly his identity as the shareholder of an offshore company.
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