Billionaire Margarita Louis-Dreyfus Receives $457 Million From Trading Giant
Margarita Louis-Dreyfus has received $457 million, following on from a previously grim financial outlook for the Russian heiress.
Louis-Dreyfus had been attempting to sell a stake in agricultural commodity trading house Louis Dreyfus Co after she borrowed over $1 billion from Credit Suisse Group AG to buy out family members. The heiress had over $400 million of debt due by the end of 2020.
However, since then, Louis-Dreyfus has sold 45% of Louis Dreyfus Co to an Abu Dhabi sovereign wealth fund and the trading house has profited from higher agricultural commodity prices throughout the coronavirus pandemic.
According to recent filings, Louis-Dreyfus’ key holding company, Akira BV, received a $52 million dividend in May and then $405 million in September following the deal’s completion. The heiress’ net worth now stands at $3.3 billion, according to Forbes.
Louis-Dreyfus inherited a stake in Louis Dreyfus Co following the 2009 death of her husband, who was the great-grandson of the company’s founder and the person behind the 171-year-old businesses transformation in the early 2000s.