Tags: Wealthy | Swiss | Lost | Billions | But | Still | Plenty

Wealthy Swiss Lost Billions, But Still Plenty Rich

Friday, 04 December 2009 09:30 AM EST

Switzerland's 300 richest individuals and families lost a total of $10 billion this year as the global economic crisis soured businesses and weakened investment portfolios.

They still had $449 billion in wealth to draw on, according to a report published Friday.

The Swiss business magazine Bilanz said the losses were much less severe than in 2008, when world markets were hard hit by financial instability.

Low, lump-sum tax rates in Switzerland helped many of the ultra-rich, who also benefited as economic conditions stabilized.

Ikea founder Ingvar Kamprad was the richest person in Switzerland for the eighth straight year, with an estimated wealth of $35-36 billion, Bilanz said. It provided the same range as last year for the founder of the Swedish maker of affordable furniture.

The Hoffmann and Oeri families ranked second, with a combined wealth of $15-16 billion from their stake in drug maker Roche Holding AG. That's $1 billion less than 2008.

They were followed by the Brenninkmeijer family, who founded textile company C&A, and Alinghi owner Ernesto Bertarelli, who sold the biotech company Serono to Merck KGaA three years ago. Estimates put both their fortunes at $10-11 billion.

Russian tycoon Viktor Vekselberg rounded out the top 5 with a fortune of $8-9 billion.

Vekselberg and the Latsis shipping family both lost $3 billion from 2008.

Formula-1 chief Bernie Ecclestone lost a third of his wealth in a divorce settlement, and now has $3-4 billion, according to Bilanz.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
Switzerland's 300 richest individuals and families lost a total of $10 billion this year as the global economic crisis soured businesses and weakened investment portfolios.They still had $449 billion in wealth to draw on, according to a report published Friday.The Swiss...
Wealthy,Swiss,Lost,Billions,,But,Still,Plenty,Rich
240
2009-30-04
Friday, 04 December 2009 09:30 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved