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Investigation After the sale of BFMTV and RMC, the multi-billionaire restructured his global telecoms empire, suffocated by debt, while taking care to protect his own assets.
Sixty billion euros: this is the staggering amount of debts of the Altice group, owned by the multi-billionaire Patrick Drahi. A global cable and telecoms empire, born ten years ago from the merger of Numéricable and SFR. All-Paris says the 61-year-old tycoon, now in dire straits. This Wednesday, October 16 in the evening, he is nevertheless all smiles: it's champagne and petits fours at 83, rue du Faubourg-Saint-Honoré, for the VIP inauguration of the new Parisian headquarters of the venerable auction house Sotheby's, its the most glamorous asset. Gallerists and collectors from all over the world came to admire the bright atrium-shaped sales room, designed in the style of the 1925s, and a prestigious exhibition which brings together Dubuffets, Fontanas, Gauguins, Renoirs… Under the brilliant varnish , however, the picture is less rosy. Sotheby's is losing money, and suffering from the same problems as the group's other subsidiaries: not enough results for too much debt.
The life of Patrick Drahi, a tightrope entrepreneur who amassed a fortune of 8.6 billion euros (according to “Challenges”) by juggling passports – Moroccan, French, Portuguese, Israeli, Christophian –, tax havens and loans, resembles a Netflix series, which reads like the impossible regulation of globalized financial capitalism. But, today, the entrepreneur boss is going through a storm, which could read…
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