Self-made billionaire and Belgium’s richest man, Albert Frère, has died at the age of 92. His investment firm GBL owned stakes in some of Europe’s biggest businesses, including Adidas, LafargeHolcim, Pernod Ricard and Total.
GBL said in a statement: “For more than three decades, under his leadership, GBL became one of the largest holdings in Europe. His professional and human qualities have deeply marked our group.”
Frère started out in the steel business, but sold out before the industry hit real trouble in the 1980s. The proceeds of that sale enabled him to become a big investor.