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Grizzly Bulls’ Billionaires Index

⬅ # 314 Wolfgang Herz|# 316 Wang Laichun ➡

# 315 Torstein Hagen 

$8.29B

Real Time Net Worth
as of 7/25/2024
$234.2M (2.83%)

# 315 Torstein Hagen 

$8.29B

Real Time Net Worth
as of 7/25/2024
$234.2M (2.83%)
OccupationChair, Institut Mérieux
Source of WealthCruises
Age81
ResidenceLucerne, Switzerland
Marital StatusDivorced
Children2
Age-Adjusted Net Worth$2.00B
Torstein Hagen
Torstein Hagen
Norway
Net worth: $8.29B

Wealth History

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Biography

Overview

Alain Merieux, born on July 10, 1938, is a French billionaire businessman and politician.
He is the chairman of Institut Merieux, a prominent conglomerate in medicine and public health.
His grandfather, Marcel Merieux, founded the institute in 1897, laying the foundation for the family's legacy.
Alain Merieux founded BioMerieux in 1963, a publicly traded arm of the conglomerate, specializing in diagnostic tests for infectious diseases like tuberculosis.
His third son, Alexandre, became the CEO of BioMerieux in 2014, carrying forward the family's entrepreneurial spirit.
Tragically, Alain Merieux has faced personal loss, with his eldest son, Christopher, passing away in 2006 from a heart attack, and his middle son, Rudolph, dying in a plane crash in 1996.

Career and Political Activities

Alain Merieux has been actively involved in politics in France, serving as the first vice-president of the board of the Rhone-Alpes region from 1986 to 1998.
During his tenure, he oversaw foreign relations, economic development, research, and secondary education, showcasing his multifaceted leadership abilities.

Institut Merieux and Holdings

Institut Merieux, founded by Marcel Merieux in 1897, is a French holding company controlled by the Merieux family.
Alain Merieux has strategically expanded the conglomerate's portfolio, including ventures like BioMerieux, Transgene, and Mérieux NutriSciences.
The conglomerate's activities extend beyond diagnostics, with investments in gene therapy, food security (through Silliker), and veterinary public health.
Mérieux Alliance, the holding company, is primarily owned by Alain and Alexandre Merieux, with a portion held by the Christophe and Rodolphe Merieux foundation.
Through acquisitions and innovations, the conglomerate has established a global presence, contributing significantly to advancements in healthcare and biotechnology.
Alain Merieux's vision for the conglomerate extends to societal impact, evident in initiatives like IMAccess, which focuses on providing rapid diagnostic tests to developing countries.

Personal Life

Despite his professional successes, Alain Merieux's life has been marked by personal tragedy, with the loss of two of his sons, Christopher and Rudolph.
He resides in Lyon, France, and is married with three children, illustrating the balance between family commitments and his entrepreneurial pursuits.

How long would it take you to become as rich as Torstein Hagen?

If you started with $10,000 and invested an additional $500 each month at a 44.11% CAGR, it would take you 5 years to reach Torstein Hagen's net worth of $8.29B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 52.22% compared to 16.62% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Torstein Hagen is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Torstein Hagen, Cruises is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey