Ernesto Bertarelli

Last updated

Ernesto Bertarelli
Ernesto Bertarelli.jpg
Born
Ernesto Silvio Maurizio Bertarelli

(1965-09-22) 22 September 1965 (age 58)
Rome, Italy
NationalitySwiss
Alma mater Babson College
Harvard Business School
Occupation(s)Chairman, B-Flexion; Co-Chair, Bertarelli Foundation
Known for Serono
Alinghi
B-Flexion
America's Cup
Bertarelli Foundation
Spouse
​
​
(m. 2000;div. 2021)​
Children3

Ernesto Silvio Maurizio Bertarelli (born 22 September 1965) is an Italian-born Swiss billionaire businessman and philanthropist.

Contents

The 2017 edition of the Sunday Times Rich List estimated the family's wealth at £11.5 billion, an increase of £1.72 billion since the previous year. [1] Swiss magazine Bilanz estimated the family fortune at CHF13.5 billion. [2] According to Bloomberg Billionaires Index , Bertarelli and family has an estimated net worth of $20.2 billion, as of 16 April 2021. [3]

Biography

Born in Rome to Italian parents, his family moved to Switzerland in 1977. He graduated from Babson College in 1989, and earned an MBA at Harvard Business School in 1993. [4]

Career

The former headquarters of Merck Serono in Geneva, which now hosts the Campus Biotech. 01337LOW HQ MERCK SERONO.jpg
The former headquarters of Merck Serono in Geneva, which now hosts the Campus Biotech.

His grandfather, Pietro, joined Serono, a pharmaceutical company founded in 1906. In 1935 Pietro became the company's managing director, a position he was succeeded in by his son, Fabio Bertarelli, in 1965. [5] [6] Bertarelli became CEO in 1996 and, along with his sister Dona, inherited ownership in 1998 on the death of his father. Changing the company's focus from pharmaceuticals to biotechnology, revenues increased from $809 million in 1996 to $2.8 billion in 2006. The company gained fame from its discovery of a natural hormone used in the treatment of female infertility, and its treatments for multiple sclerosis and growth hormone deficiency.

Bertarelli and his family sold the company to Merck KGaA of Germany in January 2007 [7] for US$13.3 billion, forming the new company Merck-Serono. His family split an estimated $9 billion stake at that time, which added to previous share sales when the company floated on the NY stock market in 2000, which is now invested mainly through his B-Flexion (formerly Waypoint Capital) [8] investment vehicle. Bertarelli currently co-chairs – with his sister Dona – the Bertarelli Foundation which focuses on marine conservation and neuroscience research. [9]

B-Flexion

Between 2002 and 2009, Bertarelli served as a board director of UBS AG. [10] Management of the family's combined wealth is through B-Flexion, [11] which invests through a number of separate specialist investment partnerships including such areas as real estate, technology, hedge funds and life sciences. [12]

These businesses include Kedge Capital, an investment management group specialising in hedge funds and private equity; a UK real estate investment fund, Crosstree; and Gurnet Point Capital, a fund based in Boston that invests in healthcare and life science business. [13] [14] [15]

As well as these businesses, B-Flexion, [16] which is headquartered in Geneva, with offices in London, Jersey, Boston and Dublin, [12] also manages investment holdings itself, including an allergy immunotherapy group Stallergenes-Greer, [17] [18] [19] Corium, Corium Pharma Solutions, a contract development and manufacturing company, and a number of asset management businesses such as Longview and Capital Four. [20]

Campus Biotech

On 22 May 2013, it was announced that a consortium led by the Bertarelli family and comprising Hansjörg Wyss, the École Polytechnique Fédérale de Lausanne (EPFL) and the University of Geneva had been successful in their bid for the former Merck Serono site in Geneva, which had been put up for sale when that company announced in April 2012 that it would be closing its Geneva headquarters. [21] The name of the joint initiative is Campus Biotech [22] and the site became a ‘centre of excellence in the fields of healthcare, biotechnology and life sciences’. As part of this, the EPFL and the University of Geneva occupy some 15,000m2 of the site [23] and, in October 2013, it was announced that Campus Biotech was to be the core of a new Swiss neuroscience valley with the research groups involved in the Human Brain Project [24] and the Blue Brain Project, [25] as well as most scientists from the Center for Neuroprosthetics, moving there in 2014. [26]

Sailing

His relationship with this sport is due to his youth spent in Monte Argentario. [27] The name Alinghi derives from the Bertarelli family boats that sailed in the regatta fields around Porto Santo Stefano and Porto Ercole. [28]

In 2000, Bertarelli founded the yachting syndicate Team Alinghi, which in 2003, representing the Société Nautique de Genève, won the Louis Vuitton Cup before beating Team New Zealand in Auckland to win the America's Cup. It was the first time a team had ever won the coveted sailing trophy on its first attempt, with the victory bringing the Cup to Europe for the first time. Team Alinghi hired sailors from many different nationalities, including Russell Coutts and Brad Butterworth, respectively skipper and tactician of Team New Zealand's 2000 crew. Bertarelli was Team Alinghi's only Swiss national serving as navigator in 2003 and subsequently as an afterguard runner and grinder in 2007, when Team Alinghi defended the America's Cup in Valencia. On July 3, 2007, Alinghi beat Team New Zealand in race 7 by 1 second to retain the America's Cup, winning the series 5–2. [29]

In recognition of his success, in 2003 Bertarelli was named Chevalier de la Légion d'honneur [30] by French President Jacques Chirac, and was given the Cavaliere di Gran Croce by Carlo Azeglio Ciampi, President of the Italian Republic. [31]

Société Nautique de Genève and Bertarelli's efforts to organize the 33rd America's Cup following their 2007 victory in Alinghi were subject to numerous legal challenges by the Golden Gate Yacht Club. [32] The race finally took place in February 2010, in Valencia, Spain. Bertarelli was the primary helmsman of his boat Alinghi 5, which lost both races against the challenger USA 17 by a considerable margin. [33] [34]

Alinghi now competes in the Extreme Sailing Series, which it most recently won in 2016, and in the summer-long, one-class D35 championship on Lake Geneva. [35] [36] Since 2016 he is a member of America's Cup Hall of Fame. [37]

Philanthropy

Bertarelli and his family established a foundation in 1999 for promoting research and development in the field of male and female infertility, assisted reproduction technologies, andrology, genetics and endocrinology; supporting training, education and international and national exchanges in these areas through grants. The Bertarelli Foundation, in Trelex, Switzerland, merged into the Foundation FABER, in Lausanne, in 2006, and since 2008 a renewed Bertarelli Foundation has regrouped the family's numerous philanthropic initiatives in the fields of charity, health, sciences, sport and culture.

Some projects recently sponsored by the Bertarelli Foundation have been the research Centre for Neuroprosthetics at the EPFL in Lausanne; [38] the partnership with the British government to create the largest marine reserve in the world in Chagos, [39] in the Indian Ocean; a joint research and education program in neuroscience between Harvard Medical School and EPFL; [40] the Swiss Sailing Grants in partnership with the Swiss Sailing Federation; and the Henna Pre-School in South Africa and a partnership with the Stoke-on-Trent YMCA that was led by Kirsty Bertarelli. [41]

Bertarelli is a member of the Harvard Medical School Board of Fellows. [42] In 2023, Bertarelli pledged $75 million to Harvard Medical School to "advance scientific discovery and a culture of entrepreneurship". [43]

Honorary doctorate

Bertarelli was awarded an Honorary Doctorate of Marine Sciences from Plymouth University in 2013. [44]

Personal life

Bertarelli met Kirsty Roper, a former 1988 Miss UK and songwriter, while on holiday in Italy in 1997. The couple married in 2000, and have three children. [45] The couple's divorce was announced in October 2021. [46] The couple lived in Gstaad and also spent time in their house on the shores of Lake Geneva. [47]

In December 2008, Appledore Shipbuilders launched the hull of Project55, Bertarelli's new yacht, [48] which was completed as Vava II by Devonport Engineering Consortium Ltd at Plymouth in February 2012 [49]

Honour

See also

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References

  1. ↑ "The Sunday Times Rich List 2017". features.thesundaytimes.co.uk. Archived from the original on 29 August 2017. Retrieved 29 August 2017.
  2. ↑ "300 Reichste 2017 – Bilanz". www.bilanz.ch (in German). Archived from the original on 4 September 2018. Retrieved 25 June 2018.
  3. ↑ "Bloomberg Billionaires Index: Ernesto Bertarelli". Bloomberg L.P. Retrieved 16 April 2021.
  4. ↑ "Forbes profile: Ernesto Bertarelli". Forbes. Retrieved 18 October 2020.
  5. ↑ "C&EN: COVER STORY – SERONO SETS SAIL". pubs.acs.org. Retrieved 15 September 2017.
  6. ↑ "Les Bertarelli et la pharmaceutique, une histoire de plus d'un demi-siècle". rts.ch (in French). Retrieved 15 September 2017.
  7. ↑ "Startups, Entrepreneurs and Innovation – Upstart Business Journal". Upstart Business Journal. 1 May 2015.
  8. ↑ Baigorri, Manuel; Kirchfeld, Aaron. "GBL Near to $1.7 Billion Affidea Deal With Swiss Tycoon". www.bloomberg.com. Retrieved 22 June 2022.
  9. ↑ "Health & Neuroscience – Fondation Bertarelli". www.fondation-bertarelli.org. Retrieved 11 October 2017.
  10. ↑ "Search – UBS Global topics". ubs.com.
  11. ↑ "GBL to Acquire Health Care Firm Affidea From Swiss Billionaire". news.bloomberglaw.com. Retrieved 22 June 2022.
  12. 1 2 Jones, Sam (19 October 2021). "Alpine attraction: Switzerland is a magnet for family offices". Financial Times . Retrieved 7 January 2022.
  13. ↑ "Crosstree Real Estate Partners | Fresh, versatile capital and perspective". www.crosstree.com. Retrieved 17 November 2017.
  14. ↑ "Kedge Capital Fund Management Limited: Private Company Information – Bloomberg". www.bloomberg.com. Retrieved 17 November 2017.
  15. ↑ "Gurnet Point L.P. Completes Acquisition of Innocoll Holdings plc". www.businesswire.com. 24 July 2017. Retrieved 17 November 2017.
  16. ↑ "Ernesto Bertarelli & family". Bloomberg.com. Retrieved 22 June 2022.
  17. ↑ "Project to Combine Stallergenes and Greer Laboratories: The New Board of Ares Allergy Appoints Fereydoun Firouz Chairman and CEO | FierceBiotech". www.fiercebiotech.com. Retrieved 17 November 2017.
  18. ↑ "Bertarelli's Waypoint to mop up remaining Euromedic stake – source". Reuters.
  19. ↑ "Esaote | Waypoint Capital". www.waypointcapital.net. Retrieved 17 November 2017.
  20. ↑ "Switzerland's Richest Person Adds to Pharma Bet With Purchase of Corium". Bloomberg. Retrieved 19 July 2023.
  21. ↑ Connolly, Allison (24 April 2012). "Merck KGaA to Close Merck Serono Site in Geneva, Cut Jobs". Bloomberg . Retrieved 22 May 2013.
  22. ↑ "Ernesto Bertarelli bought the building in Geneva Merck (translation)". Le Matin. 22 May 2013. Retrieved 22 May 2013.
  23. ↑ Etienne, Richard (22 May 2013). "The Wyss-Bertarelli project was selected by Merck (translation)". Tdg. Tribune de Geneve. Retrieved 22 May 2013.
  24. ↑ "Home - Human Brain Project". www.humanbrainproject.eu. Archived from the original on 2 August 2013. Retrieved 14 January 2022.
  25. ↑ "Bluebrain – EPFL". epfl.ch. 28 April 2015.
  26. ↑ Barraud, Emmanuel (29 October 2013). "Campus Biotech will be the core of the Swiss neuroscience valley". Epfl.ch.
  27. ↑ "Bertarelli: "La Coppa America è come giocare alla roulette"". www.ilsole24ore.com.
  28. ↑ "Coppa America, la storia Il miracolo di Alinghi". www.gazzetta.it.
  29. ↑ "America's Cup 2007 – America's Cup Match Race Results and News Stories-from CupInfo". www.cupinfo.com. Retrieved 27 January 2016.
  30. ↑ "Catégorie:Chevalier de la Légion d'honneur", Wikipédia (in French), 30 May 2019, retrieved 27 June 2019
  31. ↑ "Comunicato: Presidenza della Repubblica". 29 May 2003. Archived from the original on 1 March 2012.
  32. ↑ "Scuttlebutt News: Cory E. Friedman – America's Cup". archive.sailingscuttlebutt.com. Retrieved 27 June 2019.
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  34. ↑ "USA win 33rd America's Cup Match - News - 33rd America's Cup". Archived from the original on 17 February 2010. Retrieved 14 February 2010.
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  36. ↑ "Alinghi wins 2016 Extreme Sailing Series Title >> Scuttlebutt Sailing News". Scuttlebutt Sailing News. 11 December 2016. Retrieved 13 September 2017.
  37. ↑ "Sailing News - America's Cup News - Ernesto Bertarelli SUI inductee to the America's Cup Hall of Fame". sailing-news.com. Retrieved 10 January 2022.
  38. ↑ Christopher. "Christopher :: Launching of EPFL Center for Neuroprostheses". epfl.ch.
  39. ↑ "Billionaire saves marine reserve plans". The Independent . London. 12 September 2010.
  40. ↑ "Neuroengineering program is focus". Harvard Gazette. 29 October 2010. Retrieved 27 June 2019.
  41. ↑ "Songstress releases festive single with YMCA North Staffordshire choir". YMCA England & Wales. 8 December 2014.
  42. ↑ "Board of Fellows | Harvard Medical School". hms.harvard.edu. Retrieved 26 September 2019.
  43. ↑ Greenberg, Susan H. (15 February 2023). "Harvard Medical School Receives $75 Million Gift". Inside Higher Ed . Retrieved 1 March 2023.
  44. ↑ "America's Cup winning yachtsman and global entrepreneur receives honorary doctorate". www.theplymouthdaily.co.uk. Archived from the original on 30 July 2013. Retrieved 4 October 2019.
  45. ↑ Sherwin, Adam (3 March 2013). "It's not about the money... super-rich Kirsty Bertarelli turns to". The Independent.
  46. ↑ Brooks, Nadia. "Songwriter Kirsty Bertarelli becomes Britain's richest divorcee with £350m settlement". The Times . ISSN   0140-0460 . Retrieved 6 December 2021.
  47. ↑ Longmore, Andrew (2 November 2008). "Ernesto Bertarelli: making waves". London: Sunday Times . Retrieved 25 April 2009.
  48. ↑ "Right to be proud of the superyacht". thisisexeter.co.uk. 18 December 2008. Retrieved 25 April 2009.[ permanent dead link ]
  49. ↑ Orr, James (6 March 2012). "Largest British-built private yacht sets sail for Caribbean". London: The Telegraph . Retrieved 5 August 2012.
  50. ↑ "Le onorificenze della Repubblica Italiana". www.quirinale.it. Retrieved 24 October 2022.
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