What will this rich and secretive Dutch family do with $4 billion more?
Even as the family avoids the limelight, its fortune has continued to grow. One of the world’s richest and most discreet families must decide what to do with a massive pile of cash. The Van der Vorms, little known outside the Netherlands despite holdings that span the globe, will get as much as $4 billion this year from the sale of an eyewear retailer to Ray-Ban maker EssilorLuxottica SA. The money will go into the publicly traded Hal Trust, which the family controls.
“I’m very curious what Hal will do with the billions,” ABN Amro Bank NV’s Thijs Berkelder said. “Nobody from outside knows.” The family could return cash to shareholders, invest it or even close the fund and become full-time philanthropists, the Amsterdam-based analyst said. The Van der Vorms have been in this position before. They made their fortune building Holland America Line, a transatlantic shipping firm sold in the 1980s to Carnival Plc for about $600 million. The family put the money to work within the investment firm, which bears the initials of Holland America Line. Hal has since returned almost 2,000% and today spans timber, aviation and maritime holdings with assets of more than 11.3 billion euros ($12.5 billion). The family is worth about $11.2 billion based on the most recent filings for two holding companies it controls, according to the Bloomberg Billionaires Index, though individual members may privately own other assets.
