Patrick Drahi: The Israeli-French Business Tycoon
Patrick Drahi's remarkable journey from Morocco to France and his ascent to business prominence as an Israeli-French entrepreneur is a testament to his acumen and determination.
His acquisitions and investments have had a significant impact on the media and telecommunications landscape both in Europe and Israel. Drahi's story serves as an inspiration to aspiring business leaders and highlights the global reach of successful entrepreneurs in today's interconnected world.
Patrick Drahi is a prominent Israeli-French businessman who ranks fifth among the wealthiest individuals in France. With his roots in the realms of communication and technology, Drahi has amassed his fortune through astute investments and acquisitions.
He is the owner of the international communication company Altice and holds stakes in Israeli companies such as HOT and Mirs. Drahi was born into a Jewish family and holds citizenship in several countries, including Morocco, Portugal, France, and Israel. This documentary-style article provides a comprehensive look into the life and career of Patrick Drahi.
Early Life and Education:
Patrick Drahi was born in Morocco and, at the age of 15, relocated with his family to France. He pursued a degree in engineering at the prestigious École Polytechnique in France. Subsequently, he continued his studies in telecommunications engineering at Télécom Paris, the renowned French engineering school. After completing his education, he worked at Philips and steadily advanced within the company, eventually becoming a department manager.
In the early 1990s, Drahi began making strategic investments, primarily in small cable companies in the Provence region of southern France, funded through loans. He established UPC in France and, in 1999, sold his shares in the company to UPC Europe. In 2006, he reacquired UPC through Altice, his cable company, for a third of its market value. Leveraging Altice, he expanded his cable holdings into Luxembourg, Switzerland, and Belgium. He also held a 30% stake in Numericable, one of France's major telecommunications companies. In 2017, Altice acquired Audience Partners, an online advertising platform, and Teads, a French ad tech startup specializing in video advertising.
Financial Success in the USA:
In June 2017, Drahi's Altice USA issued shares on the New York Stock Exchange, raising $1.9 billion, marking the largest telecom IPO in the United States since 2000.
Acquisitions and Expansions:
In 2019, Drahi acquired Sotheby's, the famous auction house, for $3.7 billion.
Investments in Israel:
Drahi began gradually acquiring shares in the Israeli cable company HOT in 2009. In December 2009, he acquired the Israeli communication company Mirs. By the end of 2011, Drahi had successfully taken over HOT, purchasing Arnon Milchan's shares at a 38% premium above market value, amounting to 650 million shekels.
These acquisitions were facilitated through Cool Holdings, the holding company Drahi established in Israel. His agent in Israel, Michael Golan, was instrumental in the acquisition of HOT, eventually becoming Drahi's business competitor as the CEO of Golan Telecom, a competitor to HOT Mobile. In 2013, Patrick Drahi launched i24news, an international news channel based in Israel that provides news and current affairs in English, French, and Arabic.
Patrick Drahi resides permanently in Geneva and owns an apartment in the Rothschild Tower in Tel Aviv since 2009. He is married to Lina, an Orthodox Christian of Greek-Syrian descent, and they have four children.
For years, Drahi was known for his reluctance to grant interviews or engage with the media. However, in 2014, he broke his media silence and granted interviews to Israeli media outlets.
- פטריק דרהיhe.wikipedia.org