Stefano Pessina Net Worth $12.9 Billion
Italian businessman Stefano Pessina is the Executive Chairman of Alliance Boots and he has an estimated net worth of $12.9 billion as of February 2015, according to Bloomberg’s list of billionaires. Based on Forbes, he is the sixth wealthiest individual in Italy and is ranked 189th about the whole world’s Billionaires List. He afterwards turned it into Alliance Sante, a Franco-Italian pharmaceutical wholesale group. In 1997, it merged with Alliance UniChem where he joined its Board of Directors. He served as 1997’s Officer, its Executive Deputy Chairman, and later its Executive Chairman. A year ago, Stefano Pessina’s fortune more than doubled with the whopping purchase by Walgreen of a chunk of Alliance Boots in mid-2012. Walgreen paid a reported $6.7 billion in cash and shares for a 45% stake in the firm, along with some 3,300 retail outlets in 25 counties and sales of $35.7 billion. He took his payment in Walgreen’s equity, and he now owns 8% of its stock. He also holds around half of his stake at Alliance Boots, which will be about 18% and is valued at $3.3 billion. Stefano has been on the board of Walgreen since August 2012. In 2006, the pharmaceutical wholesaler group merged together with the U.K. pharmacy chain, Boots Group, which became the current Alliance Boots. After annually, it became a privately-held company in a $22 billion deal with financing from leading international investment firm, Kohlberg Kravis Roberts (KKR). This move is considered the largest buy out in Europe to date. With its attempt to expand internationally, Alliance Boots has formed a strategic partnership with China’s fifth largest pharmaceutical wholesaler, Nanjing Pharmaceutical, in September 2012.