#2532
Fernando Espinosa Abdalá
Mexico 76 years old
Overview
- Source of Wealth
- Pharmaceuticals
- Industry
- Healthcare
- Residence
- Mexico City
Biography
Fernando Espinosa Abdalá and his brother Leopoldo derive much of their fortune from the sale of their drug manufacturer Rimsa, which it sold to Tel Aviv-based Teva Pharmaceuticals for $2.3 billion.
Fernando was the operational president of the company before the sale in 2016.
Their father founded the business in 1970 as a pharmaceutical distributor before expanding into manufacturing.
Following the sale, Teva sued Fernando and Leopoldo claiming fraud and a breach of contract.
Most of the charges were dismissed; as for breach of contract, the parties eventually settled for less than $200 million.