Frederik Paulsen – Billionaire

Frederick Paulsen inherited small drugmaker Ferring Pharmaceuticals, founded by his father 1950. When he took over running the business in 1983, it generated $15 million in annual revenue. Today the biotech outfit, which makes infertility, obstetrics, urology, gastroenterology and endocrinology products, has estimated sales of more than $1.9 billion. In 1998 he began underwriting philanthropic projects around the world. He is also building fertility clinics in Russia to help reverse its drastic population decline. He gave the kingdom of Bhutan more than $3 million and a collection of tapestries to bolster its new Royal Textile Academy. Paulsen enjoys extreme adventure travel: he was the first person to cross the Bering Strait from Alaska to Russia in an ultralight aircraft, which is little more than a lawn chair attached to a kite and propeller.

Paulsen is the owner and chairman of Ferring, a drugmaker that specializes in medicines for reproductive medicine and women’s health. The Saint-Prex, Switzerland-based company’s products include fertility treatments Menopur and Rekovelle. Ferring had revenue of approximately $2.4 billion in 2017.