Florentino Perez net worth
Florentino Perez Net Worth: Florentino Perez is a Spanish businessman who has a net worth of $1.4 billion. As a civil engineer, he has been leading Spain’s largest construction company, Actividades de Construccion y Servicios (ACS), since 1993. However, he is probably best known as the current chairman of cocker club Real Madrid FC, which has been home to stars such as David Beckham and Zinedine Zidane.
Florentino Perez rode the club from 2000 to 2006, and three years later he was re-elected president. Today, Real Madrid has an estimated revenue of $690.6 million in the 2011-2012 season, leading the world among football clubs. Although he’s more interesting in football than in construction, ACS, in which he holds a 12.5% stake, lost $1.4 billion in the first nine months of 2012. The main reason for this is Spain’s financial crisis and the bursting of its property bubble, and ACS’ 2011 acquisition of German construction company Hochtief apparently made things worse. To pay off debt, the company sold a 3.69% stake in Iberdrola and 2,800 kilometers of power lines in Brazil, and announced it would cancel its February 2013 dividend. Throughout 2013, ACS continued to sell 6.4 million treasury shares to further reduce debt.
