Xavier Niel

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Xavier Niel
Xavier Niel004.jpg
Niel in 2014
Born (1967-08-25) 25 August 1967 (age 53)
NationalityFrench
OccupationBusinessman
Known forFounder and majority shareholder, Iliad
Net worthUS$8.8 billion (January 2021)[1]
TitleChairman, Iliad
Partner(s)Delphine Arnault[2][3]
Children3

Xavier Niel (born 25 August 1967) is a French billionaire businessman, active in the telecommunications and technology industry and best known as founder and majority shareholder of the French Internet service provider and Mobile operator Iliad trading under the Free brand (France's second-largest ISP, and third mobile operator).[4] He is also co-owner of the newspaper Le Monde,[5] and co-owner of the rights of the song "My Way"[6] and owner of Monaco Telecom, Salt Mobile SA and Eir.[7] He is chairman and chief strategy officer for Iliad,[8] but also a board member of KKR and Unibail-Rodamco-Westfield.[9][10]

As of November 2020, his net worth is estimated at US$9.1 billion.[1]

Early life[edit]

Xavier Niel was born into a middle class family; his father is a jurist in a pharmaceutical laboratory, and his mother is an accountant. He studied in the 12th arrondissement of Paris at the Saint-Michel-de-Picpus Catholic private high school.[11][12]

Niel started early by developing telecommunication and data services and embarked at a young age on an entrepreneurial career soon after his father gave him a Sinclair ZX81 computer as a Christmas present when he was 15.[13]

In 1987 at 19, while dropping out from school, he successfully created then sold his first company, a Minitel (a French forerunner of the internet) service company. This minitel-site provided sex oriented chat services.

Career[edit]

Telecommunications[edit]

In 1995, he invested in the first Internet Service Provider in France, World-NET, created the previous year by Sébastien Socchard, Philippe Langlois and Pierre Séguret. This company was sold for 30 million euros the year before the internet bubble burst.[14]

After taking over a company subsequently renamed Iliad SA, Xavier Niel launched in 1996 the 1st reversed directory service on the Minitel. This service was responsible for 1 million euros of revenue per year for Iliad until the end of the minitel in France in 2012.[15] Niel remains Iliad's majority shareholder, holding 71%[16] of the share capital.

In 1999, he created Free, a French Internet service provider. The name came from the fact that modem access was really free, which caused some stir among other (non-free) French Internet providers, as well as it raised some questions about Free's business model. In 2002, Free launched a broadband package at a low price (€29.99 per month), which became the benchmark in the market. At the same time, Free developed and launched the Freebox: the first triple-play multi-service box in France. The free modem service had brought to the company a strong potential customers portfolio, many of them switching to the broadband for the sake of comfort.

In 1999, he founded Online, a French hosting company.

In 2012, he created Free Mobile, which offered unlimited voice calls, text and data at the lowest price of the market in France (€19.99 per month).[17][18]

In 2014, Cable & Wireless Communications (CWC) sold its 55% economic interest in Monaco Telecom to NJJ Capital, an investment vehicle controlled by Xavier Niel for US$445 million.[19]

On December 18, 2014, via its holding company NJJ Capital, he acquired for 2.7 billion dollars (2.8 billion Swiss francs) Orange Switzerland (owned by Apax Partners since 2012), which was renamed Salt Mobile SA in April 2015. In May 2019 Salt Mobile SA sold 90% of its towers for 800 million dollars to Cellnex[20][21]

In September 2018, he bought 100% of the Cypriot operator MTN Cyprus through Monaco Telecom for 260 million euros, the carrier was rebranded into Epic in June 2019.[22]

In April 2018, through NJJ he personally invested 330 million euros for 32.9% of the capital of Eir. Iliad, for its part, took a 31.6% stake in Eir's capital with a call option to buy back 80% of NJJ's stake in 2024.[23]

In April 2018, via NJJ, he acquired a stake in the capital of Tigo Senegal through the “Teyliom” consortium, a company which was rebranded into Free Senegal in October 2019.[24]

In 2018, the Iliad SA share price collapsed, going from €212 in January 2018 to €95 in November 2018. After restructuring its assets leading to the creation of the holding HoldCo, Xavier Niel did major maneuvers to reconquer the markets and strengthen its position in the capital of Iliad.[25] In November 2019 he bought back at €120 more than 11.7 million Iliad shares (i.e. 20% of the company's shares) via a public share buyback operation, automatically raising the price to this level.[26] Thanks to this operation financed by a loan guaranteed on Iliad shares held in his holding company Holdco, he increased his control from around 52% to 72%.

In March 2020, he bought 100% of the operator Vodafone Malta through Monaco Telecom for 250 million euros, market leader for telecommunications operators in Malta, in the fields of mobile, internet and fixed communications. The company was rebranded into Epic on November,18th 2020.[27][28]

In September 2020, through Iliad, he launched a public offer for the Polish operator Play, leader of the Polish mobile market with 15 million subscribers after having bought a 40% stake from the two main shareholders. If all the shareholders sell their shares, the French group will have to spend 2.2 billion euros. Including the debt, the operation rises to 3.5 billion euros.[29]

Unibail-Rodamco-Westfield[edit]

In October 2020, through his holding NJJ he buys shares on the stock market of Unibail-Rodamco-Westfield with Leon Bressler and Susana Gallardo, the consortium announced in late October 2020 that their stake in the company exceeds 5%,[30] following their announcement the consortium was able to cancel the company’s plan of capital increase following a shareholders vote in early November 2020, consequently they gained three seats at the company’s board.[31]

On November, 13th 2020, the consortium obtained the resignation of Colin Dyer, president of the supervisory board but also its vice president and three other board members, at the end of this meeting Niel’s ally Leon Bressler was elected president of the supervisory Board.[32]

Press[edit]

In late 2010, along with Pierre Bergé and Matthieu Pigasse, Niel acquired a controlling stake in Groupe Le Monde which edits the daily newspaper Le Monde but also magazines such as l’Obs, Courrier International and Télérama.[33]

In February 2020, Niel acquired through his personal holding 100% of Groupe Nice-Matin, which edits the newspapers Nice-Matin, Var-Matin and Monaco-Matin. The group also own an 11% stake in La Provence.[34][35]

In March 2020, he acquired France-Antilles, a daily newspaper in the French West Indies.[36]

In June 2020, Niel acquired Paris-Turf which is France's first horsing races newspaper.[37]

Other investments[edit]

In March 2010, Xavier Niel cofounded with Jeremie Berrebi Kima Ventures,[38] a fund dedicated to invest in 50 to 100 startups a year everywhere in the world. Kima Ventures already invested in 330 companies from February 2010 to August 2014 in 32 countries. Business Insider described Xavier Niel and Jeremie Berrebi as almost certainly the most active angel investors in the world.[39] Since September 2015, Jean de La Rochebrochard is the Managing Partner of the fund.[40]

In 2013, Niel created a school named 42, which is a free tech school with no teachers, no books, no tuition for 1000 people every year.[41] In 2021, 33 42 campuses have been opened in the world.[42]

In June 2017, Niel welcomed the French President Emmanuel Macron for the inauguration of Station F, a business incubator for startups located in Paris, known as the largest in the world.[43]

Judiciary problems[edit]

On 28 May 2004, Xavier Niel was indicted and detained for a month for alleged procuring and misuse of company assets, which occurred in several sex shops in which he was a shareholder. On 30 August 2005, a Nolle prosequi was pronounced for the procuring part of his indictment, while on 13 October 2006, he was given a 2 years suspended prison sentence for the misuse of company assets.[44]

Rewards[edit]

In August 2015, Wired named him as the seventh most influential personality in technology in the world.[45]

In February 2017, Vanity Fair named him the most influential French in the world abroad.[46]

Personal life[edit]

Niel's domestic partner is Delphine Arnault, a billionaire in her own right and also the daughter of the richest man in France and Europe, Bernard Arnault. He has a daughter with her and two sons from a previous relationship, and lives in Paris.[1][2][3][47]

References[edit]

  1. ^ a b c "Forbes profile: Xavier Niel". Forbes. Retrieved 14 January 2021.
  2. ^ a b "Biographie de Xavier Niel" (in French). Challenges. Retrieved 25 May 2020. Le compagnon de Delphine Arnault, fille de Bernard Arnault, est le plus gros business angel français
  3. ^ a b Ellison, Jo (10 October 2014). "Lunch with the FT: Delphine Arnault". Financial Times. Retrieved 25 May 2020. She declines to confirm whether or not Niel is the father of her daughter, or even her daughter’s name.
  4. ^ "France v Google". The Economist.
  5. ^ Kuper, Simon (3 May 2013). "Lunch with the FT: Xavier Niel". Financial Times. Archived from the original on 3 March 2017.
  6. ^ "Xavier Niel - Forbes". Forbes. Retrieved 6 November 2012.
  7. ^ "Cable & Wireless sells Monaco Telecom stake to Xavier Niel". Reuters. 25 April 2014 – via uk.reuters.com.
  8. ^ "Iliad management team". Iliad. Retrieved 21 December 2009.
  9. ^ https://ir.kkr.com/corporate-governance/
  10. ^ https://www.urw.com/fr-fr/website~o~content/person/sb/xavier-niel
  11. ^ "Xavier Niel, fondateur de Free, le cactus des télécoms". Capital.fr (in French). 26 March 2008. Retrieved 30 April 2020.
  12. ^ GODELUCK, Solveig; PAQUETTE, Emmanuel (20 October 2016). Xavier Niel (in French). edi8. ISBN 978-2-412-02140-8.
  13. ^ Kumar, Udhaw (27 December 2012). "Self-made Billionaire Xavier Niel: The Entrepreneurial Journey that Began at the Age 15". Brainprick. Brainprick. Retrieved 9 September 2016.
  14. ^ O'Brien, Kevin (5 May 2013). "A Billionaire Who Breaks the Mold". The New York Times. NYTimes. Retrieved 9 September 2016.
  15. ^ "3617 ANNU, toujours une valeur sûre pour Iliad". freenews.fr. 15 July 2010. Retrieved 13 January 2011.
  16. ^ https://www.usine-digitale.fr/article/xavier-niel-de-retour-aux-commandes-d-iliad-et-de-free.N942346
  17. ^ Garside, Juliiette (23 February 2012). "Xavier Niel: rebel storms bastions of Gallic elite". The Guardian. Retrieved 21 August 2020.
  18. ^ Dillet, Romain (3 September 2012). "How The Telecom Company Free Disrupted The Mobile Landscape In France". TechCrunch. Retrieved 21 August 2020.
  19. ^ Armstrong, Ashley (25 April 2014). "Cable & Wireless Communications sells Monaco stake to French billionaire". Daily Telegraph. ISSN 0307-1235. Retrieved 21 August 2020.
  20. ^ https://www.ft.com/content/43a46a26-86ac-11e4-8a51-00144feabdc0
  21. ^ https://www.universfreebox.com/article/49855/Cellnex-annonce-acquerir-la-totalite-des-pylones-de-Salt-Xavier-Niel-en-Suisse
  22. ^ https://knews.kathimerini.com.cy/en/business/mtn-moves-forward-with-‘epic-change
  23. ^ https://www.reuters.com/article/us-eir-m-a-iliad-idUSKBN1EE1Y8
  24. ^ https://www.lefigaro.fr/flash-eco/2018/05/02/97002-20180502FILWWW00131-telecoms-tigo-senegal-rachete-par-un-consortium-comprenant-xavier-niel.php
  25. ^ https://www.lesechos.fr/tech-medias/hightech/xavier-niel-reussit-son-sauvetage-du-titre-iliad-1163706
  26. ^ https://investir.lesechos.fr/actions/actualites/iliad-resultat-de-l-opra-15-24-millions-de-titres-ont-ete-apportes-a-l-offre-1889791.php
  27. ^ https://www.monaco-telecom.mc/images/presse/CP_Malte_FR_UK.pdf
  28. ^ https://timesofmalta.com/articles/view/vodafone-malta-becomes-epic-as-part-of-monaco-telecom-takeover.832399
  29. ^ https://www.lesechos.fr/tech-medias/hightech/iliad-free-se-lance-en-pologne-avec-le-rachat-de-play-1244215
  30. ^ https://www.lesechos.fr/industrie-services/immobilier-btp/unibail-le-consortium-mene-par-xavier-niel-possede-desormais-5-du-capital-1258096. Missing or empty |title= (help)
  31. ^ https://www.lefigaro.fr/societes/immobilier-le-coup-de-force-de-xavier-niel-chez-le-geant-unibail-20201110. Missing or empty |title= (help)
  32. ^ https://www.boursorama.com/bourse/actualites/leon-bressler-elu-president-du-conseil-de-surveillance-d-unibail-ade9374ce2e416418e10f1dd1133b502
  33. ^ "Le Monde Ousts Top Manager". The New York Times. 15 December 2010. Retrieved 13 January 2011. Le Monde said the official, Éric Fottorino, had been ousted from his key role as president of the management board, where he will be succeeded by Louis Dreyfus, an adviser to Matthieu Pigasse, a Lazard banker who bought a controlling stake in Le Monde with Pierre Bergé, co-founder of the Yves Saint Laurent fashion house, and Xavier Niel, a telecommunications entrepreneur.
  34. ^ https://www.lefigaro.fr/flash-eco/nice-matin-xavier-niel-finalise-le-rachat-finance-un-plan-de-departs-volontaires-20200211
  35. ^ https://www.capital.fr/entreprises-marches/xavier-niel-rejoint-bernard-tapie-au-capital-de-la-provence-1343370
  36. ^ https://www.20minutes.fr/arts-stars/medias/2742375-20200317-france-antilles-offre-reprise-xavier-niel-validee
  37. ^ https://www.lemonde.fr/economie/article/2020/06/30/xavier-niel-devient-le-nouveau-proprietaire-du-groupe-paris-turf_6044734_3234.html
  38. ^ "Kima Ventures - The most active Business Angel in the world". www.kimaventures.com.
  39. ^ http://www.businessinsider.com/kima-ventures-interview-2011-3
  40. ^ https://www.linkedin.com/in/jeandlr
  41. ^ "This French tech school has no teachers, no books, no tuition — and it could change everything". 13 June 2014.
  42. ^ https://www.clubic.com/pro/actualite-349890-l-ecole-42-continue-de-se-developper-avec-un-reseau-international-de-33-campus-partenaires.html
  43. ^ https://www.lefigaro.fr/secteur/high-tech/2017/06/23/32001-20170623ARTFIG00271-emmanuel-macron-attendu-a-l-inauguration-de-station-f.php
  44. ^ "Prison avec sursis pour Xavier Niel". L'Express. 27 October 2006. Retrieved 13 January 2011. Xavier Niel, pionnier de l'Internet en France et fondateur de la société Free, a été condamné à deux ans de prison avec sursis et 250 000 euros d'amende pour des détournements de fonds dans des sex-shops(...)Il lui était reproché d'avoir touché de 2000 à 2004 une somme d'environ 5000 euros par mois en espèces prélevée sur des recettes non-déclarées de sex-shops de Paris et Strasbourg, dans lesquels il possédait des intérêts financiers depuis les années 80. La justice le soupçonnait initialement de proxénétisme, en raison des activités de prostitution exercées par des employées de ces sex-shops. Il a bénéficié d'un non-lieu sur ce volet.
  45. ^ https://www.wired.co.uk/article/the-2015-wired-100
  46. ^ https://www.lesechos.fr/amp/188567
  47. ^ Lasry-Segura, Edith (13 March 2017). "Au Lys-Chantilly, ce " ghetto des riches " où François Fillon s'impose". Le Parisien. Le domaine, présenté comme un « ghetto de riches », compte quelques personnalités parmi ses habitants. Comme le fondateur de Free, Xavier Niel, ou le Premier ministre Bernard Cazeneuve.

External links[edit]

Media related to Xavier Niel at Wikimedia Commons