Emanuele (Lino) Saputo – Billionaire

Emanuele (Lino) Saputo, who has chaired the eponymous family dairy company since 1969, announced that he will retire at age 80 in August 2017. His son, Lino Jr., who has served as president and CEO since 2004, will succeed him. The elder Saputo’s father, Giuseppe, started the business in 1954, using a bicycle for deliveries, after emigrating to Canada from Sicily. The company grew over the next decades, and Lino took it public in 1997. Saputo Inc. makes $8.4 billion in revenues annually selling cheese and other milk products in more than 40 countries. It has more than 12,500 employees and is continuing to grow through acquisitions. The Saputo family also has stakes in transportation and logistics firm TFI International, Major League Soccer’s Montreal Impact and several large real estate projects in Montreal. Lino maintains hundreds of antique cars and oversees an automobile enthusiasts’ club.

• Emanuele (Lino) Saputo chaired his family’s eponymous dairy company from 1969 until his August 2017 retirement.
• His son, Lino Jr., who has served as president and CEO since 2004, succeeded him as chairman.
• The elder Saputo’s father, Giuseppe, founded the business in 1954 with $500 and a bicycle for deliveries after immigrating to Canada from Sicily.
• Lino grew the company in the following decades, taking it public in 1997; today its products are sold in more than 40 countries.
• The family also has a stake in Major League Soccer’s Montreal Impact.

Musk is chief executive officer of publicly traded carmaker Tesla, which became the state of California’s biggest auto-industry employer, and closely held rocket business SpaceX, which counts the U.S. National Aeronautics and Space Administration as a client.

Musk owns about 20 percent of Tesla, which acquired his SolarCity alternative energy business in 2016, according to a September 2016 merger prospectus. He owns about 33 million Tesla shares, according to a May 2019 stock exchange filing. He controls the stake through a revocable trust and has pledged 13.8 million shares as collateral against personal obligations, according to the company’s 2019 proxy. These shares are included in the net worth analysis and their value offset by a $507 million liability, the amount of borrowings against them, as disclosed in an April 2019 filing. He also holds 4.8 million exercisable options, according to the company’s proxy, which are included at their net value.

SpaceX is valued using the details from a December 2018 fundraising round that valued the company at $31 billion, according to a Wall Street Journal report. Musk owned 54 percent of the closely held company through a trust, according to a Nov. 15, 2016 filing with the Federal Communications Commission. Bloomberg’s analysis assumes he didn’t sell shares in subsequent fundraisings and that his stake has been diluted to 51 percent in proportion to the amount raised. The value is reduced by 15 percent to account for typical discounts that shares in unicorns attract on the secondary market, according to two brokers who asked not to be identified because the information is private.