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Billionaire heir makes a tasty profit from Ocado listing

July 21, 2010

Jörn Rausing, one of the heirs to the Tetra Pak fortune, has made a tidy sum from one of the few initial public offerings on the London Stock Exchange this year.

Jörn Rausing, one of the heirs to the Tetra Pak fortune, has made a tidy sum from one of the few initial public offerings on the London Stock Exchange this year.

Rausing is thought to have made around £50 million from his initial 7% stake in Ocado, the groceries delivery firm, when it listed in London today. This initial stake cost Rausing around £15 million when he bought the shares back in 2003.

Ford family succeeds in retaining voting control after challenge

May 14, 2010

The Ford family, who control the US-based automaker of the same name, retained their multiple voting shares through which they control the business at the company’s annual shareholder meeting yesterday

The Ford family, who control the US-based automaker of the same name, retained their multiple voting shares through which they control the business at the company's annual shareholder meeting yesterday.

The proposal to reconsider the two-tier share system was put forward by activist investor Ray Chevedden and was rejected by a 70.8% majority. This is the sixth year in which the resolution has been voted on and this year saw it gain the most support so far with 29.2%.

Ford returns to profit for first time in 18 months

November 3, 2009

Ford, the family-controlled automaker, announced it has returned to profit in Q3 2009 – the first time it has done so since Q1 2008.

Mittal nets $2 billion

February 13, 2008

Lakshmi Mittal, CEO of ArcelorMittal, has netted almost $2 billion as the steel giant announced record results in its first full year as a joint company.

Lakshmi Mittal, CEO of ArcelorMittal, has netted almost $2 billion as the steel giant announced record results in its first full year as a joint company. Net income soared 30% to $10.5 billion and sales grew to $105 billion – up from $88 billion the previous year.

The firm also announced that $4.4 billion would be returned to shareholders and with a 43% stake in the company, Mittal is set to earn $1.9 billion.