Some of the world’s wealthiest families have cashed in on the November 2024-February 2025 gains as concerns over market instability grow, fueled by echoes of a trade war. The sales have totaled $7 billion, but the dynasties could move the funds towards other investment opportunities to diversify their portfolio.
Per a Friday report by Bloomberg, among the rich dynasties that have recently sold their positions from equities include Italy’s Agnelli family, Germany’s Reimann Dynasty, Denmark’s Kristiansen family, and South Africa’s Rupert family, all of whom have a collective net worth of $75 billion.
Since the start of US President Donald Trump’s administration, tensions over tariffs and trade policies have rattled investors. The benchmark S&P 500 Index has dipped over 2% since Trump took office. In comparison, the Stoxx Europe 600 Index has risen over 6%, benefiting firms like ISS, British American Tobacco, and Ferrari, which are all listed in Europe.
Agnelli dynasty reduces Ferrari’s stake
The Agnelli family, known for its now 30% voting rites on Ferrari NV through its holding company Exor, disclosed plans on Wednesday to sell roughly $3.1 billion worth of shares in the luxury carmaker, which accounts for about 4%.
Speaking for Exor’s board, CEO John Elkann coined the decision as an effort to diversify investments beyond Ferrari. “The transaction will allow us to reduce our concentration and improve diversification,” reckoned Elkann.
Exor did not reveal the price at which JPMorgan and Goldman Sachs carried out the process. Still, the family remains a major stakeholder in Ferrari, accounting for about 20% of Ferari’s total shares.
As of the end of 2024, the Agnellis are worth over $13.5 billion and hold stakes in several companies, including Royal Philips NV, Christian Louboutin Ltd, Clarivate, CNH Industrial, The Economist Group, and Iveco.
Reimann dynasty’s JAB Holding trims Keurig Dr Pepper stake
On Wednesday, JAB Holding Company, the investment firm managing the fortunes of Germany’s Reimann dynasty, publicized a reduction in its stake in soft drink company Keurig Dr Pepper Inc. The firm said it plans to sell approximately 73 million shares in a public offering, valued at around $2.5 billion based on recent closing prices.
JAB’s ownership in the beverage giant will drop to 10.7% following the transaction, and the company has agreed to a 90-day lock-up period for its remaining shares. Three JAB-affiliated board members, Joachim Creus, Frank Engelen, and Olivier Goudet, also bid farewell from Keurig Dr Pepper’s board following the share sales.
The Reimann dynasty is a family of five businesspersons coined as the “world’s most secretive billionaires” because outside of their names, no one really knows what happens in the Reimann ”household.” Renate Reimann-Haas, Stefan Reimann-Andersen, Matthias Reimann-Andersen, Wolfgang Reimann, and Andrea Reimann-Ciardelli have a summed-up net worth of $10 billion, per Bloomberg.
Rupert’s family bids goodbye to British American Tobacco
On February 25, the second richest family in Africa, the Rupert dynasty, officially exited the tobacco industry after 76 years. Reinet Investments, controlled by the Rupert family’s eldest son and billionaire, Johann Rupert, sold its entire stake in British American Tobacco Plc for $1.4 billion. The sale was conducted through Reinet Jersey Holdings, which offloaded 43.3 million shares at $29.20 each to institutional investors.
No Reinet spokesperson provided a clear reason for the sale, but analysts suggest it aligns with the company’s gradual reduction in tobacco investments over the years.
Peter Little, a fund manager at Anchor Capital, surmised that the move appeared less driven by environmental, social, and governance (ESG) concerns and more by a desire to look towards “investments on industries with higher growth potential.” Some sources say the Rupert family is reportedly worth between $14 billion to $17 billion, but Forbes puts the South African dynasty precisely at $14.6 billion.
On the same day as Reinet’s stock sale announcement, Denmark’s four-generation-long family that founded toy company Lego, the Kristiansens, filed to sell shares worth 1.5 billion Danish krone ($209 million) in office services company ISS on February 25.
Beyond these four families, other major investors have also been offloading shares. The Sandoz family foundation, which holds a stake in Swiss pharmaceutical giant Novartis AG, sold 2.6 billion Swiss francs ($2.9 billion) shares earlier this week. Last month, Pfizer Inc. raised $3.2 billion by cutting back on its stake in Haleon Plc.
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