Ernesto Bertarelli
Encyclopedia
Ernesto Bertarelli is a Swiss
-Italian
billionaire and entrepreneur
.
Together with his extended family, Bertarelli was ranked 81st in the 2011 annual ranking of the world's wealthiest people compiled and published by Forbes
magazine, The family's wealth was estimated at US$10.0 billion.
, his family moved to Switzerland in 1977. He graduated from Babson College
in 1989, and earned an MBA at Harvard Business School
in 1993.
, a pharmaceutical company that he moved from Rome
to Switzerland
. Bertarelli became CEO and Deputy Chairman in 1996, and with his sister Dona inherited ownership in 1998 on the death of his father. Changing the company's focus from pharmaceuticals to biotechnology
, revenues increased from $809 million in 1996 to $2.8 billion in 2006. The company gained fame from its discovery of a natural hormone used in the treatment of female infertility
.
Bertarelli instructed advisers in 2006, agreeing to sell the company to Merck KGaA
of Germany in January 2007 for US$13.3 billion, forming the new company Merck-Serono. He and his sister split a combined $9 billion stake.
His current business and finance interests include Kedge Capital, an investment management group specializing in hedge funds, private equity and real estate.
In 2008 he launched Ares Life Sciences, which builds on his extensive healthcare industry knowledge, investing across the spectrum of medical technology, biotechnology, pharmaceuticals and healthcare. Since its inception, this investment company has already acquired majority participations in Euromedic, a leading pan-European medical services provider specializing in diagnostic imagining, clinical laboratory, renal care and cancer treatment; Esaote, a global player in diagnostic imaging, with a strong international presence in ultrasound and dedicated MRI; and Stallergenes, a biopharmaceutical company specialized in the treatment of severe respiratory allergies by allergen immunotherapy, world leader on the sublingual immunotherapy market.
In 2010, the Bertarelli family also launched a new asset management business, Northill Capital.
syndicate Team Alinghi
, which in 2003, representing the Société Nautique de Genève
, won the Louis Vuitton Cup
before beating Team New Zealand
in Auckland
to win the America's Cup
. It was the first time a team had ever won the coveted sailing trophy on its first attempt, with the victory bringing the Cup to Europe
for the first time. Team Alinghi hired sailors from many different nationalities, including Russell Coutts
and Brad Butterworth
, respectively skipper and tactician of Team New Zealand's 2000 crew. Bertarelli was Team Alinghi's only Swiss national serving as navigator in 2003 and subsequently as an afterguard runner and grinder in 2007, when Team Alinghi defended the America's Cup in Valencia. On July 3, 2007, Alinghi beat Team New Zealand in race 7 by 1 second to retain the America's Cup, winning the series 5-2.
In recognition of his success, in 2003 Bertarelli was named Chevalier de la Légion d'honneur by French President Jacques Chirac
, and was given the Cavaliere di Gran Croce
by Carlo Azeglio Ciampi
, President of the Italian Republic
.
Société Nautique de Genève and Bertarelli's efforts to organize the 33rd America's Cup following their 2007 victory in Alinghi were subject to numerous legal challenges by the Golden Gate Yacht Club
. The race finally took place in February 2010, in Valencia, Spain. Bertarelli was the primary helmsman of his boat Alinghi 5
, which lost both races against the challenger USA 17 by a considerable margin.
Some projects recently sponsored by the Bertarelli Foundation have been the research Centre for Neuroprosthetics at the EPFL in Lausanne; the partnership with the British government for the Marine Reserve in Chagos, in the Indian Ocean; a joint research and education programme in neuroscience between Harvard Medical School
and EPFL; the Swiss Sailing Grants in partnership with the Swiss Sailing Federation; and the Henna Pre-School in South Africa.
, a former 1988 Miss UK and song-writer, while on holiday in Italy in 1997. The couple married in 2000, and have three children.
The couple live in Gstaad and spend time in their house on the shores of Lake Geneva
. In December 2008, Appledore Shipbuilders
launched the hull of Project55, Bertarelli's new yacht.
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
-Italian
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
billionaire and entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
.
Together with his extended family, Bertarelli was ranked 81st in the 2011 annual ranking of the world's wealthiest people compiled and published by Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
magazine, The family's wealth was estimated at US$10.0 billion.
Biography
Born in RomeRome
Rome is the capital of Italy and the country's largest and most populated city and comune, with over 2.7 million residents in . The city is located in the central-western portion of the Italian Peninsula, on the Tiber River within the Lazio region of Italy.Rome's history spans two and a half...
, his family moved to Switzerland in 1977. He graduated from Babson College
Babson College
Babson College is a private business school located in Wellesley, Massachusetts near Boston.- History :Babson College was founded by Roger Babson on September 3, 1919, as the Babson Institute. It was renamed "Babson College" in 1969...
in 1989, and earned an MBA at Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
in 1993.
Career
His father founded SeronoSerono
Serono is a biotechnology company headquartered in Geneva, Switzerland. The company was founded as the Serono Pharmacolodgical Institute by Cesare Serono in 1906 in Italy. A key step in its development was the discovery of a method of extracting urinary gonadotropins by Dr Piero Donini allowing...
, a pharmaceutical company that he moved from Rome
Rome
Rome is the capital of Italy and the country's largest and most populated city and comune, with over 2.7 million residents in . The city is located in the central-western portion of the Italian Peninsula, on the Tiber River within the Lazio region of Italy.Rome's history spans two and a half...
to Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
. Bertarelli became CEO and Deputy Chairman in 1996, and with his sister Dona inherited ownership in 1998 on the death of his father. Changing the company's focus from pharmaceuticals to biotechnology
Biotechnology
Biotechnology is a field of applied biology that involves the use of living organisms and bioprocesses in engineering, technology, medicine and other fields requiring bioproducts. Biotechnology also utilizes these products for manufacturing purpose...
, revenues increased from $809 million in 1996 to $2.8 billion in 2006. The company gained fame from its discovery of a natural hormone used in the treatment of female infertility
Infertility
Infertility primarily refers to the biological inability of a person to contribute to conception. Infertility may also refer to the state of a woman who is unable to carry a pregnancy to full term...
.
Bertarelli instructed advisers in 2006, agreeing to sell the company to Merck KGaA
Merck KGaA
Merck KGaA is a German chemical and pharmaceutical company. Merck, also known as “German Merck” and “Merck Darmstadt”, was founded in Darmstadt, Germany, in 1668, making it the world's oldest operating chemical and pharmaceutical company. The company was privately owned until going public in 1995...
of Germany in January 2007 for US$13.3 billion, forming the new company Merck-Serono. He and his sister split a combined $9 billion stake.
After Serono
Between 2002 and 2009, he served as a board director of UBS AG.His current business and finance interests include Kedge Capital, an investment management group specializing in hedge funds, private equity and real estate.
In 2008 he launched Ares Life Sciences, which builds on his extensive healthcare industry knowledge, investing across the spectrum of medical technology, biotechnology, pharmaceuticals and healthcare. Since its inception, this investment company has already acquired majority participations in Euromedic, a leading pan-European medical services provider specializing in diagnostic imagining, clinical laboratory, renal care and cancer treatment; Esaote, a global player in diagnostic imaging, with a strong international presence in ultrasound and dedicated MRI; and Stallergenes, a biopharmaceutical company specialized in the treatment of severe respiratory allergies by allergen immunotherapy, world leader on the sublingual immunotherapy market.
In 2010, the Bertarelli family also launched a new asset management business, Northill Capital.
Sailing
In 2000, Bertarelli founded the yachtingYachting
Yachting refers to recreational sailing or boating, the specific act of sailing or using other water vessels for sporting purposes.-Competitive sailing:...
syndicate Team Alinghi
Alinghi
Alinghi is the syndicate set up by Ernesto Bertarelli, racing under the colors of the Société Nautique de Genève, to challenge for the America's Cup. Bertarelli had raced several smaller yachts named Alinghi previously, but 2003 was his first attempt at the America's Cup...
, which in 2003, representing the Société Nautique de Genève
Société Nautique de Genève
The Société Nautique de Genève is a yacht club based in Geneva . It was founded in 1872 with the goal of developing nautical sports and high level sailors...
, won the Louis Vuitton Cup
Louis Vuitton Cup
The Louis Vuitton Cup is a yachting competition connected with the America's Cup. The Louis Vuitton Cup was used as the selection series to select the team to sail as the challenger in the America's Cup...
before beating Team New Zealand
Team New Zealand
Team New Zealand is a sailing team based in Auckland, New Zealand representing the Royal New Zealand Yacht Squadron.Team New Zealand has become a household name in their home country following their consecutive wins in the America's Cup in 1995 and 2000...
in Auckland
Auckland
The Auckland metropolitan area , in the North Island of New Zealand, is the largest and most populous urban area in the country with residents, percent of the country's population. Auckland also has the largest Polynesian population of any city in the world...
to win the America's Cup
America's Cup
The America’s Cup is a trophy awarded to the winner of the America's Cup match races between two yachts. One yacht, known as the defender, represents the yacht club that currently holds the America's Cup and the second yacht, known as the challenger, represents the yacht club that is challenging...
. It was the first time a team had ever won the coveted sailing trophy on its first attempt, with the victory bringing the Cup to Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
for the first time. Team Alinghi hired sailors from many different nationalities, including Russell Coutts
Russell Coutts
Sir Russell Coutts, KNZM, CBE is a competitive sailor. His achievements include a Gold medal in the Finn Class in the 1984 Olympic Games, winning the America's Cup four times, the ISAF World Youth championships, three World Match Racing Championships, numerous international match race wins and...
and Brad Butterworth
Brad Butterworth
Bradley William Butterworth, OBE is a world-renowned yachtsman known for the role he played as tactician and skipper in the America's Cup for Team New Zealand and the Alinghi team of Switzerland.He was born in Te Awamutu, New Zealand in 1959...
, respectively skipper and tactician of Team New Zealand's 2000 crew. Bertarelli was Team Alinghi's only Swiss national serving as navigator in 2003 and subsequently as an afterguard runner and grinder in 2007, when Team Alinghi defended the America's Cup in Valencia. On July 3, 2007, Alinghi beat Team New Zealand in race 7 by 1 second to retain the America's Cup, winning the series 5-2.
In recognition of his success, in 2003 Bertarelli was named Chevalier de la Légion d'honneur by French President Jacques Chirac
Jacques Chirac
Jacques René Chirac is a French politician who served as President of France from 1995 to 2007. He previously served as Prime Minister of France from 1974 to 1976 and from 1986 to 1988 , and as Mayor of Paris from 1977 to 1995.After completing his studies of the DEA's degree at the...
, and was given the Cavaliere di Gran Croce
Order of the Crown of Italy
The Order of the Crown of Italy was founded as a national order in 1868 by King Vittorio Emanuele II, to commemorate the unification of Italy in 1861...
by Carlo Azeglio Ciampi
Carlo Azeglio Ciampi
dr. Carlo Azeglio Ciampi is an Italian politician and banker. He was the 73rd Prime Minister of Italy from 1993 to 1994 and was the tenth President of the Italian Republic from 1999 to 2006...
, President of the Italian Republic
President of the Italian Republic
The President of the Italian Republic is the head of state of Italy and, as such, is intended to represent national unity and guarantee that Italian politics comply with the Constitution. The president's term of office lasts for seven years....
.
Société Nautique de Genève and Bertarelli's efforts to organize the 33rd America's Cup following their 2007 victory in Alinghi were subject to numerous legal challenges by the Golden Gate Yacht Club
Golden Gate Yacht Club
The Golden Gate Yacht Club is a yacht club founded in 1939 and is the current holder of the America's Cup won by its racing team BMW Oracle Racing.In 1939 the first members built a clubhouse on a barge in the San Francisco Marina...
. The race finally took place in February 2010, in Valencia, Spain. Bertarelli was the primary helmsman of his boat Alinghi 5
Alinghi 5
The Alinghi 5 is a LWL, beam sloop-rigged catamaran built by Alinghi for the 33rd America's Cup.It was launched on 8 July 2009 being lifted from the construction shed in Villeneuve, Vaud by a Mil Mi-26 helicopter and carried thereby to Lake Geneva. It was subsequently carried to Genoa, Italy...
, which lost both races against the challenger USA 17 by a considerable margin.
Philanthropy
Bertarelli and his family established a foundation in 1999 for promoting research and development in the field of male and female infertility, assisted reproduction technologies, andrology, genetics and endocrinology; supporting training, education and international and national exchanges in these areas through grants. The Bertarelli Foundation, in Trelex, Switzerland, merged into the Foundation FABER, in Lausanne, in 2006, and since 2008 a renewed Bertarelli Foundation has regrouped the family’s numerous philanthropic initiatives in the fields of charity, health, sciences, sport and culture.Some projects recently sponsored by the Bertarelli Foundation have been the research Centre for Neuroprosthetics at the EPFL in Lausanne; the partnership with the British government for the Marine Reserve in Chagos, in the Indian Ocean; a joint research and education programme in neuroscience between Harvard Medical School
Harvard Medical School
Harvard Medical School is the graduate medical school of Harvard University. It is located in the Longwood Medical Area of the Mission Hill neighborhood of Boston, Massachusetts....
and EPFL; the Swiss Sailing Grants in partnership with the Swiss Sailing Federation; and the Henna Pre-School in South Africa.
Personal life
Bertarelli met Kirsty RoperKirsty Bertarelli
Kirsty Bertarelli is a song writer, former Miss UK and wife of Ernesto Bertarelli, a Swiss billionaire who was the owner of biotech giant Serono until 2007 and winner of the America's Cup in 2003 and 2007 with his yachting syndicate Alinghi.In the Sunday Times Rich List 2010 ranking of the...
, a former 1988 Miss UK and song-writer, while on holiday in Italy in 1997. The couple married in 2000, and have three children.
The couple live in Gstaad and spend time in their house on the shores of Lake Geneva
Lake Geneva
Lake Geneva or Lake Léman is a lake in Switzerland and France. It is one of the largest lakes in Western Europe. 59.53 % of it comes under the jurisdiction of Switzerland , and 40.47 % under France...
. In December 2008, Appledore Shipbuilders
Appledore Shipbuilders
-History:The Appledore Yard was founded in 1855 on the estuary of the River Torridge. The Richmond Dry Dock was built in 1856 by William Yeo and named after Richmond Bay in Prince Edward Island, where the Yeo family's shipping fleet was based....
launched the hull of Project55, Bertarelli's new yacht.
External links
- Alinghi.com
- Ares Life Sciences
- Bertarelli Foundation
- Bertarelli Family
- Ernesto Bertarelli profile at Forbes magazine
- Ernesto Bertarelli sailing interview at Financial Times