Curt Engelhorn
Curt Engelhorn | |
|---|---|
| Born | 25 May 1926 Munich, Germany |
| Died | 13 October 2016 (aged 90) |
| Occupation | Businessman |
| Years active | 1950s–1997 |
| Known for | Former owner of Boehringer Mannheim and DePuy Inc., heir to BASF founder Friedrich Engelhorn |
Curt Rudolf Glover Engelhorn (25 May 1926 – 13 October 2016) was a German billionaire businessman and heir, descending from Friedrich Engelhorn, the founder of the chemical giant BASF.
Early life and education
Born in Munich, Germany to parents Kurt Maria Engelhorn and Anita Engelhorn (née Schlemmer), Engelhorn pursued higher education in chemical engineering, obtaining his bachelor's degree from the University of Texas at Austin.
Career
For more than three decades, Engelhorn was at the helm of pharmaceutical firms Boehringer Mannheim and DePuy Inc.. In 1997, he divested his combined 40% ownership of these companies to Hoffmann-La Roche, securing a deal valued at over $10 billion.
In 2008, he pledged an annual donation of €400,000 for a decade to fund American studies initiatives at the Heidelberg Center for American Studies.
Engelhorn maintained ownership of Five Star Island in Bermuda until 2012 and possessed a significant shareholding in Corange Ltd., a German pharmaceutical multinational registered in Bermuda.
Starting in late 2013, German authorities initiated an investigation into Engelhorn and his daughters over alleged tax fraud concerning capital transfer taxes estimated up to €440 million (US$475 million). By January 2016, legal representatives for the family conceded to tax evasion totaling €135 million (US$145 million).
Personal life
As a descendant of Friedrich Engelhorn, founder of the German chemical company BASF, Engelhorn was married and fathered five children. His main residence was located in Gstaad, Switzerland, with additional properties situated in Costa Brava, Spain, and the Côte d'Azur region of France.
According to Forbes in March 2016, his net worth was estimated at $6.2 billion. He died on 13 October 2016 at the age of 90.
Other
In 2012, it emerged that a genuine 12th-century cloister had been repurposed as a swimming pool ornament on one of Engelhorn's estates in Spain, remaining hidden from both public view and heritage authorities for more than fifty years.