Born on August 20, 1963, in Casablanca, Morocco, Patrick Drahi has emerged as a prominent figure in the global telecommunications and media landscape. A French-Israeli billionaire, Drahi is the founder and controlling shareholder of Altice, a powerful telecom group based in Europe, known for its aggressive expansion and innovative strategies in the industry. Now residing in Switzerland, Drahi’s journey from a modest upbringing in Morocco to becoming a leading magnate is a testament to his entrepreneurial spirit and strategic vision.
Early Life and Education
Drahi was born into a Jewish family, where both of his parents were mathematics teachers, instilling in him a strong appreciation for education and analytical thinking. At the age of 15, the family relocated to Montpellier, France, a move that set the stage for Drahi’s future academic and professional pursuits. He excelled in his studies and earned an engineering degree from the prestigious École Polytechnique in Paris, followed by a post-graduate degree in optics and electronics from Télécom Paris. These educational foundations would later inform his groundbreaking work in the field of telecommunications.
Career Trajectory
Drahi’s career began in 1986 when he took a position as a fiber optics researcher at Philips. However, his entrepreneurial ambitions led him to leave the company in 1990 to pursue consulting opportunities in the United States, focusing on investments in European cable providers. In 1994, he founded Sud Câble Services in France, successfully persuading local mayors to allow him to lay cable for television in their municipalities. This venture proved fruitful, culminating in a lucrative sale to UPC in 1998, which provided Drahi with a substantial stock windfall just before the dot-com bubble burst.
In 2001, Drahi established Altice, a holding company based in Amsterdam that would spearhead his aggressive acquisition strategy across Europe. He founded Numericable, a French cable operator, and made headlines in 2013 with the acquisition of SFR, France’s second-largest mobile phone and internet provider, from media giant Vivendi. His bold moves didn’t stop in France; in 2021, he acquired an 18% stake in BT Group in the UK, which he increased to 24.5% in 2023, solidifying his influence in European telecommunications.
Drahi’s ambitions also extended to Israel, where he acquired the cable television company HOT and founded i24news in 2013, an international news channel broadcasting in multiple languages. In 2015, he made a significant entry into the U.S. telecommunications market by purchasing a controlling stake in Suddenlink Communications and later acquiring Cablevision, rebranding it as Altice USA.
In recent years, Drahi has navigated financial challenges, including a €24 billion debt by the end of 2023, leading to strategic decisions such as the sale of Altice Média for over €1.5 billion in March 2024.
Recognition and Wealth
Drahi’s wealth has fluctuated significantly, with Forbes estimating his net worth at $26.5 billion in 2015, ranking him as the 57th richest person globally. He was once the richest individual in Israel until 2016 and currently has a net worth of approximately $4.9 billion as of December 2023. His financial acumen and high-profile acquisitions have made him a notable figure in both business and media.
Personal Life
In 1990, Drahi married Lina Nazirah (née Zenie), a Greek Orthodox Syrian who became a Swiss citizen. The couple moved to Switzerland in 1999, where they currently reside in Geneva. They have four children: Graziella, Angélina, and twin sons David and Nathan, all of whom have taken on significant roles within the family business and philanthropic endeavors.
In 2014, the Drahi family established the Patrick and Lina Drahi Foundation, which focuses on supporting programs in science, education, entrepreneurship, and the arts, with a particular emphasis on initiatives benefiting Israel and the Jewish community. Headquartered in Zermatt, Switzerland, the foundation reflects Drahi’s commitment to giving back and fostering innovation.
Drahi’s journey, characterized by bold entrepreneurial moves and a dedication to philanthropy, continues to inspire a new generation of business leaders and innovators in the global telecommunications sector.
