Albert Frère
Albert Frère | |
|---|---|
| Born | February 4, 1926 Belgium |
| Died | December 3, 2018 (aged 92) |
| Other names | Baron Frère |
| Occupation(s) | Entrepreneur, investor |
| Known for | Prominent Belgian entrepreneur and billionaire; co-founder of Pargesa; major investor in steel and holding companies |
Albert, Baron Frère (4 February 1926 – 3 December 2018) was a prominent Belgian entrepreneur and billionaire.
Early life
Raised as the son of a merchant specializing in nails, Frère became involved in the family trade from a young age. Following his father's passing when he was 17, he discontinued his formal education to take full responsibility for managing the business.
Career
By the age of 30, Frère had started investing in steel manufacturing plants within Belgium. By the late 1970s, he had gained control over a significant portion of the steel sector in the Charleroi region. Foreseeing challenges in the steel market, he consolidated his assets with Cockerill, resulting in the creation of Cockerill-Sambre, which he subsequently sold to the Belgian government.
He reinvested the capital from this transaction to establish an investment portfolio via the Swiss holding company Pargesa, co-founded alongside Canadian financier Paul Desmarais. In 1982, Pargesa took control of Belgian holding firm Groupe Bruxelles Lambert and expanded its interests in companies including Petrofina, Royale Belge Insurance, Compagnie Luxembourgoise de Télédiffusion (CLT), and Tractebel. Frère championed international mergers and divested several assets: Banque Bruxelles Lambert to ING Group, Royale Belge to AXA, Tractebel to Suez, Petrofina to Total S.A., and RTL to Bertelsmann.
Personal life
Frère was married on two occasions and fathered three children. His first marriage to Nelly Depoplimont produced a son, Gérald. His second marriage to Christine Hennuy resulted in two children: Ségolène and Charles-Albert; tragically, Charles-Albert died in a car accident at age 19.
In 1995, King Albert II granted him the noble title of baron. He co-owned the esteemed Château Cheval Blanc vineyard near Bordeaux alongside Bernard Arnault of LVMH. Additionally, Frère was affiliated with the exclusive social club known as the Cercle Gaulois.
Honours
2014 : Awarded Knight Grand Cross in the Legion of Honour.
External links
- Albert Frère featured on Forbes' 2009 billionaires list
- Profile: A discreet powerhouse. The Economist, 20 April 2006.