BT and EE: Who is BT major shareholder Patrick Drahi? Billionaire’s business and personal life explained

Mobile network operator EE is owned by communications company the BT group - but now it seems the two could be about to merge - which may possibly spark the end of the BT brand. Yesterday (18 October), the company announced that moving forwards EE Broadband would essentially become its new flagship, home to broadband, mobile, and television deals.

Customers will be familiar with these products from BT at the moment. As part of a major business revamp, they also announced EE ID, an online space where people using any internet provider could browse and buy products and services from EE for the first time.

As part of the revamp, the EE brand will begin to take further prominence over BT, with BT customers being contacted and asked to consider switching to EE. You can find out what that may mean for you as a customer by reading our ‘why is BT becoming EE?’ article. 

But, what could this mean for the people who run the businesses? The answer to this question remains unclear at the moment, and will likely be revealed in the coming days, but for now we take a look at Patrick Drahi - the billionaire shareholder of BT.

Who is Patrick Drahi?

Patrick Drahi is a 60-year-old billionaire magnate and investor with interests in media and telecoms. He was born in Morocco on 20 August 1963 to parents who were both math teachers and descendants of Portuguese Jews. When he was 15 his family moved to France. Since 1999, however, he has been living in Switzerland. 

Drahi has an engineering degree from École Polytechnique in Paris, and a post-graduate degree in optics and electronics from Télécom Paris. On 5 March 2021, Forbes listed his net worth at $11.7 billion, ranking him 248 on the Billionaires 2020 list. His wealth appears to have fallen since then, however, as the real time estimation of his wealth according to Forbes is $4 billion.

Who are Patrick Drahi’s wife and children?

He is married to wife Lina and together they have four children. According to a report from Business Insider, he proposed to his wife within an hour of meeting her, at a party in the late 1980s, and they have now been married for more than 30 years. The family have always been very private so little is known about their personal life. We do know, however, that the couple’s sons are called Nathan and David and their daughters are called Angelina and Graziella.

The couple have created the Patrick and Lina Drahi Foundation, focused on various philanthropic interests, mainly in science and technology, the arts and a number of social projects. Their children are also involved. A statement on the official foundation website states that the family “believe business success entails the responsibility to give back and create opportunities for others”. A statement adds: “The Drahis aim to share the fruits of their success with the community wherever the family has its roots or business activities, taking part in projects based in Israel, Portugal, Switzerland, France and the USA.”

When did Patrick Drahi become a shareholder in BT?

Drahi became a shareholder in BT In 2021, when he spent approximately $4.2 billion to purchase an 18% stake in British telecom giant BT Group.  As of May this year, that stake increased to 24.5%. 

What other businesses does Patrick Drahi own?

Drahi is the founder and controlling shareholder of the European-based telecom group Altice, which was created in 2002, as listed on the European Euronext Stock Exchange. He took the business private in January 2021 at a $7.3 billion valuation.

He also owns the Israeli cable television company HOT. In 2013, he also bought SFR, the second largest mobile phone and internet provider in France, from a media conglomerate. In the same year, he founded the international news channel i24news, based in Israel, and broadcasting in French, Arabic, and English. He also founded the French cable operator Numericable. In 2019, he acquired the auction house Sotheby's for $3.7 billion, which he also took private. In 2021, Drahi’s son, Nathan Drahi, was appointed managing director of the auction house’s Asia operations.