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# 405 Vera Michalski-Hoffmann $4.98B

Random fact: Father Lukas co-founded the wildlife conservation group WWF.

Overview

Michalski-Hoffmann has a 1.5% economic interest in Roche Holding, the world's second-largest drugmaker. The Basel, Switzerland-based company is a manufacturer of oncology medications, including leukemia treatment Rituxan and breast cancer drug Avastin. It had revenue of 56.9 billion Swiss francs ($58.1 billion) in 2018.

As of :
Last change +$7.58M ( +0.1%)
YTD change +$953M ( +23.7%)
Industry Health Care
Biggest asset RO SW Equity
Citizenship Switzerland
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Vera Michalski-Hoffmann's net worth of $4.98B can buy ...

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troy ounces of gold
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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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Net Worth Summary

Cash
Private asset
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Misc. liabilities
Confidence rating:

Vera Michalski-Hoffmann's fortune is derived from her 1.5% stake in drugmaker Roche Holding. Hoffmann holds her stake in bearer shares that bestow voting rights on the holder. Roche is the world's second-largest pharmaceutical company based on an analysis of 2018 sales, according to the Pharmaceutical Executive website.

Hoffmann controls the shares along with the other living descendants of Fritz Hoffmann who founded Roche forerunner, F. Hoffmann-La Roche & Co. in 1896. Through a family voting pool that includes eight shareholders, the family controls 72 million Roche shares, giving them 45% voting control of the company and a 8.3% equity interest, according to the company's website. Hoffmann's father Lukas, who left the voting pool in 2004, died in July 2016. His holding has been split evenly among the three children identified as belonging to the family pool because the exact breakdown is unknown.

Vera's cousin Beatrice Oeri sold her shares in Roche back to the family and exited the pool in 2009. Two years later, another cousin, Maja, broke from the pool, while continuing to hold onto her shares. That year Roche disclosed her individual holdings, 8.1 million shares, which represents 0.9% of the company's equity and 5% of its voting rights. Vera Michalski-Hoffmann's holdings are calculated on the basis of these disclosures, as well as an analysis of the holdings back to 2000, when some of the family's individual stakes were disclosed.

The value of his cash holdings is based on an analysis of dividends, market performance, insider transactions, taxes and charitable contributions.

Vera Michalski-Hoffmann declined to comment on her net worth.

Biography

Birthdate:
Family: Unmarried, No children
Education: Graduate Institute

Vera Michalski-Hoffmann is the great-granddaughter of Fritz Hoffmann who in 1896 founded the forebear of drugmaker Roche Holding, today the world's third-largest pharmaceutical company. Together with other family members she retains voting control over the Swiss company that employs more than 90,000 people working across 100 countries.

Notable acquisitions by the medical firm include the purchase of Corange in 1998, a Bermuda-based holding company that owned Mannheim, Germany-based drug and diagnostics company Boehringer Mannheim for $10.2 billion dollars in cash. That transaction solidified the fortune of Germany's Engelhorn family, including Curt Engelhorn, who was Boehringer's CEO for 37 years. Roche completed the purchase of San Francisco-based biotech Genentech Inc. for $46.8 billion in 2009.

Vera Michalski-Hoffmann is not directly involved in Roche's operations. In common with the rest of the family voting pool, she remains committed to the company's independence and its overall interests, according to a 2011 statement by the family.

Milestones
  • 1989 The present-day form of the company, Roche Holding, is founded.
  • 1990 San Francisco biotech firm Genentech sells majority stake to Roche.
  • 1997 Roche agrees to buy Corange, Boehringer and DePuy holding company.
  • 2000 Roche buys the 44 percent of Genentech it does not own for $46.8 billion.
  • 2000 Givaudan is spun off by Roche and lists on the Swiss stock exchange.
  • 2003 Start of Roche Commissions, program that sponsors classical music composers.
  • 2009 Cousin Beatrice sells her Roche shares back to the family voting pool.
  • 2011 Cousin Maja exits voting pool to exercise voting rights independently.
  • 2012 Roche withdraws $6.7 billion bid for U.S. genetics company Illumina.