Stefano Pessina’s profile picture

Stefano Pessina

Stefano Pessina’s profile picture
Net worth 2018: $12.02 Billion
Industry: Health care
Residence: Monte Carlo, Monaco
Country: Italy
BirthDay: 4 June 1941
Sigh: Cancer
Children: 2
Education: Bachelor of Arts / Science, University of Milan
BIOGRAPHY

Stefano Pessina was bornon 4 June 1941 in Monte Carlo, Monaco, Italy. Stefano Pessina is #131 in List Billionaires People In The World. Nearly four decades after taking over his family's pharmaceutical wholesaler in Naples, Italy, Stefano Pessina heads the world's largest drugstore chain, Walgreens Boots Alliance. He got there by striking a flurry of deals, buying more than 150 rival pharmacies across Europe, then merging his UniChem Group with U. K. pharmacy Alliance Boots and taking the company private in a $22 billion deal, Europe's largest leveraged buyout ever. Between 2012 and 2014, Walgreens bought 100% of his pharmacy chain, creating Walgreens Boots Alliance and making Pessina the largest shareholder in the Chicago-based company. Pessina took over as CEO in December 2014. In June 2017, Walgreens Boots Alliance announced a deal to buy almost half of Rite Aid's stores for $5.2 billion, terminating a previous merger between the two drugstore chains that had come under close scrutiny due to antitrust concerns.

NET WORTH STATISTIC
2009

$1.6 Billion

2010

$1.4 Billion

2011

$1.4 Billion

2012

$2.6 Billion

2013

$6.4 Billion

2014

$10.4 Billion

2015

$12.1 Billion

2016

$13.4 Billion

2017

$13.9 Billion

2018

$12.02 Billion

TIMELINE
Stefano Pessina (born June 4, 1941) is an Italian-born Monegasque billionaire businessman and the vice chairman, chief executive officer (CEO), and the single largest shareholder of Walgreens Boots Alliance.Pessina was born in Pescara and grew up between Milan, Como and Naples.He graduated from the Polytechnic University of Milan in nuclear engineering.In 1977, he took over his family's pharmaceutical wholesaler in Naples and turned it into Alliance Santé, a Franco-Italian pharmaceutical wholesale group. In 1997, it merged with Alliance UniChem, and he joined its board of directors. From 2001 to 2004, he served as its CEO. He served as deputy chairman, and later as chairman.Pessina was chairman of Alliance Boots from 2007 to 2014 and a director of Walgreens until August 2014. He is a director of Walgreens Boots Alliance. He is a director of the Consumer Goods Forum.Pessina divorced his wife, with whom they have two adult children. She is the cousin of the architect Richard Rogers. They met at university and married shortly thereafter. She still resides in Milan, in the palatial apartment where they brought up their two children.He has also been the romantic partner of Ornella Barra for over 30 years. They met in 1985, as she was just beginning her career. She is 13 years his junior and shares his Monaco residence and work schedule, acting as co-chief operating officer of Walgreens Boots Alliance.As of February 2015, he is worth US$11.4 billion, owning around 15% of Walgreens Boots Alliance.He has lived in Monte Carlo, Monaco, for many years.In 2016, he was named in the Panama Papers.His daughter, Elena, 41, lived in Paris and worked in public relations, before marrying an Italian lawyer in 2007.His son Jacopo Pessina, 36, serves as Director M&A and Healthcare Innovation International at Walgreens Boots Alliance. Mr. Pessina is also a Co-founder and Developer of the Healthcare Innovation Platform and previously worked in global wealth management and investment banking at Merrill Lynch. He serves as a Member of Advisory Board at Metro Bank PLC.In a 31 January 2015 interview for The Sunday Telegraph, Pessina commented on the prospect of Britain's Labour Party winning the UK general election in May 2015, "If they acted as they speak, it would be a catastrophe ... The problem is would they act that way or not? One thing is to threaten and to shout but it is completely different to be in charge and to manage the country day-to-day." He described Labour’s business policies as "not helpful for business, not helpful for the country and in the end it probably won’t be helpful for them". The Sunday Telegraph noted that Pessina "declined to elaborate on which specific policies he disliked".On Sunday 1 February, Labour's shadow Business Secretary Chuka Umunna, responded in The Independent, "The British people and British businesses will draw their own conclusions when those who don’t live here, don’t pay tax in this country and lead firms that reportedly avoid making a fair contribution in what they pay purport to know what is in Britain’s best interest." On 2 February, in a live Q&A session with Sky News, the Labour Party leader Ed Miliband said, "The chairman of Boots lives in Monaco and doesn't pay British taxes ... I don't think people should take kindly to being told how to vote by someone who avoids paying his taxes."On 2 February, Walgreens Boots Alliance stated, "The comments made by Stefano Pessina were a small part of a much larger conversation and have been taken out of context ... Stefano Pessina was expressing his personal views only and is not campaigning against Ed Miliband or the Labour Party." On 6 February, Allister Heath, deputy editor of The Telegraph, described the "attacks" by Labour and Liberal Democrat politicians on Pessina, "one of the world’s greatest entrepreneurs", as being "as nonsensical as they were indefensible".
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