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(Bloomberg) Germano and Giammaria Giuliani’s family made a fortune with remedies for hair loss, indigestion and sensitive skin. The family business is still making money after more than a century in operation, but what’s really driving the brothers’ wealth is a bet on another health-care company.The Giulianis hold stakes worth about $3 billion in Royalty Pharma Plc, a New York-based firm that buys pharmaceutical royalties from academic institutions, research hospitals and drugmakers such as Pfizer Inc. Its shares have surged 70% since an initial public offering last year. The Giulianis first invested in Royalty Pharma after Germano and his father met founder Pablo Legorreta in an airport in Milan in 1996, the same year the former Wall Street banker set up the company. They parlayed proceeds from their closely held family business Giuliani Spa into an early fundraising round for Royalty Pharma and added more ahead of its IPO. Their investment has returned at least 250% in th
Brothers Make Billions From Ex-Merger Bankerâs Pharma Firm
This content was published on February 17, 2021 - 12:11
February 17, 2021 - 12:11
(Bloomberg) Germano and Giammaria Giulianiâs family made a fortune with remedies for hair loss, indigestion and sensitive skin. The family business is still making money after more than a century in operation, but whatâs really driving the brothersâ wealth is a bet on another health-care company.The Giulianis hold stakes worth about $3 billion in Royalty Pharma Plc, a New York-based firm that buys pharmaceutical royalties from academic institutions, research hospitals and drugmakers such as Pfizer Inc. Its shares have surged 70% since an initial public offering last year.
The 47-year-old ranked the ninth richest person in the world will join the likes of British inventor James Dyson in taking advantage of Singapore s low taxes, high security and generous incentives for family offices.
Bloomberg estimated his net-worth to be US$86.5 billion (S$115.2 billion).
Family offices are described by
Investopedia as being advisory firms that manage the finances or investments of an affluent individual or family.
Brin s office is based in California and is called Bayshore Global Management.
They established an office in Singapore in late-2020, reported
Bloomberg.
According to
BBC, Brin co-founded Google with Larry Page in 1998, though both have since stepped away from the active management of the company.
Family offices are heading back to hedge funds. More than a third of 185 investment firms for wealthy clans plan to boost allocations amid the economic upheaval caused by the Covid-19 pandemic, according to survey released Wednesday by BlackRock Inc. and Juniper Place, a London-based firm that helps asset managers raise capital. Family offices and other investors soured on hedge funds in recent years, bemoaning high fees and lackluster returns. But the health crisis has given some of those managers a boost, particularly stock-pickers who benefited from aggressive bets on technology stocks and copious economic stimulus that drove equities to new heights.