Patrick Drahi

0
149
Tired of reading, then listen.

Patrick Drahi born 20 August, 1963 is a Moroccan-born businessman with French, Portuguese, and Israeli citizenship, living in Switzerland since 1999.  He is the founder and controlling shareholder of the Netherlands-based telecom group Altice listed on the Euronext Amsterdam stock exchange.  As of June 2019, Forbes estimated Drahi’s net worth at $9.3 billion. Forbes ranks him as the 190th-richest person in the world. He was ranked as the richest person in Israel, until 2016, when he came in at second.

Patrick Drahi was born in Casablanca, to a Moroccan Jewish family. When he was 15 years old, the family moved to Montpellier, France. His parents were both math teachers which had an influence on his performance from a very young age. Drahi has an engineering degree from the École Polytechnique university in Paris (a post-graduate degree in optics and electronics).  He is married and lives in Geneva, Switzerland, with his Syrian-Greek Orthodox wife; they have four children.Patrick business acumen took him to the top of the business chain he operated in. He had a strategy that would attract clients and at the same time beat the competition. He had strategized a plan wherein; his company would talk to mobile operators who were running in loss and purchase their business at a good price.In 2013, Drahi founded the international news channel i24news. This channel is based in Israel, and broadcasts in French, Arabic, and English.

Drahi later became the owner of France largest cable operator, Numericable, owning nearly 75%. Drahi bought SFR, France seconde mobile phone and internet provider in France in 2013 from media conglomerate Vivendi.

Drahi and his group Altice entered the American telecommunications market in 2015 by purchasing a 70 per cent stake in Suddenlink Communications, the seventh-largest cable company in the US. Suddenlink is valued at $9.1 billion.  In 2015, Drahi bought Cablevision from the Dolan family, renaming it Altice USA with its flagship brand Optimum being the fifth-largest cable operator in the USA. Drahi owns the Israeli cable television company HOT.Following a buy-low, sell high mantra Drahi built Altice around 20 acquisitions of lagging cable and mobile operators, often at knockdown prices in places such as France, Belgium, Israel, Portugal, and the Dominican Republic.Known to be a good orator and an astute thinker, Drahi is now officially the richest Israeli in the world. He is self-made and talks about acquiring more telecom industries within the coming years, a signal of his grit and determination to not sit on his laurels.

Advertisement

He is also known to make significant contributions to charity.